mortgage fraud

Mortgage fraud is a crime punishable by law where potential buyers of houses attempt to deceive lenders by providing incorrect information or blatantly omitting details which would cause banks to not lend them money. Mortgage fraud is a crime which has risen in numbers and notoriety in the first decade of the 21st Century, especially during the United States' financial crisis of 2008.

There are many types of mortgage fraud including: Occupancy fraud, Income fraud, Employment fraud, Failure to disclose liabilities, Fraud for profit, Appraisal fraud, Cash-Back Schemes, Shotgunning, and Identity Theft. These crimes could yield a person a fixed amount of jail time and fines, with some prison sentences approaching a 30-year maximum.

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Latest blogosphere posts tagged “mortgage fraud”

• Loan Shark Sentenced to Jail for Preying on Homeowners

  
  LoanWorkout.org — Authority: 145
  “This was theft,” she said. “It was stealing, and it really was very unforgivable behavior, and Ms. Tobon has shown no remorse.”Price was caught between ordering her straight to jail — after which there is a risk she could be deported to Mexico and victims would never be repaid — or releasing her and ...
  4 hours ago

• Thirteen Defendants Charged in $19 Million Bank Fraud

  
  Mortgage Fraud Blog — Authority: 137
  13 individuals have been indicted by a federal grand jury in Eugene, Oregon, on a variety of mortgage and loan fraud charges arising out of the collapse of Desert Sun Development ( DSD ), a company previously headquartered in Bend, Oregon . Tyler Fitsimons , 31, Prineville; Shannon Egeland , 35, La ...
  11 hours ago

• Man Sentenced for Running Mortgage Fraud Scheme

  
  Mortgage Fraud Blog — Authority: 137
  Godwin Asifo , 55, Woodbridge, Virginia, was sentenced to 57 months in prison, followed by three years of supervised release, for running a mortgage fraud scheme that resulted in the foreclosure of at least three homes in northern Virginia . He was also ordered to pay $546,685.20 in restitution. As previously ...
  11 hours ago

• President of Metropolitan Money Store Sentenced to Over 12 Years in Prison for $37 Million Mortgage Fraud Scheme

  
  Real Estate Investors Daily — Authority: 130
  Joy Jackson Personally Responsible for Over $16 Million in Losses to Mortgage Lenders; Used Over $800,000 of Fraudulently Obtained Proceeds to Pay for Her Wedding U.S. District Judge Roger W. Titus sentenced the president of the Metropolitan Money Store, Joy Jackson, age 41, of Fort Washington, Maryland, today to 151 ...
  2 days ago

• President of Metropolitan Money Store Sentenced to Over 12 Years in Prison for $37 Million Mortgage Fraud Scheme

  
  Real Estate Consumer News — Authority: 129
  Joy Jackson Personally Responsible for Over $16 Million in Losses to Mortgage Lenders; Used Over $800,000 of Fraudulently Obtained Proceeds to Pay for Her Wedding U.S. District Judge Roger W. Titus sentenced the president of the Metropolitan Money Store, Joy Jackson, age 41, of Fort Washington, Maryland, today to 151 ...
  2 days ago

• Straw Buyer Sentenced, Must Give Fraud Forums

  
  North Country Gazette — Authority: 540
  QUEENS—A 32-year-old Long Island woman who acted as a “straw buyer” to steal the Jamaica, Queens, residence of a 93-year-old Queens man suffering from Alzheimer’s disease has been sentenced to 30 days in jail and five years’ probation, during which she must appear at mortgage fraud forums and educate people ...
  3 days ago

• Many More Mortgage Fraud Cases in Pipeline; Like Shooting Fish in …

  
  Mortgage online — Authority: 160
  Mortgage fraud prosecutions are likely to increase exponentially as federal authorities gear up nationwide to put a higher priority on such cases. In Nevada, they have some 300 cases in the pipeline, cherry-picking the most egregious, ...
  4 days ago

• Many More Mortgage Fraud Cases in Pipeline; Like Shooting Fish in …

  
  Mortgage online — Authority: 160
  Mortgage fraud prosecutions are likely to increase exponentially as federal authorities gear up nationwide to put a higher priority on such cases. In Nevada, they have some 300 cases in the pipeline, cherry-picking the most egregious, ...
  4 days ago

• MFI Miami: Are Steve Dilbert & Green Credit Solutions Partners in Loan Modification Crime?

  
  LoanWorkout.org — Authority: 145
  Are MFI-Miami and  Steve Dilbert really a front for illegal loan modification scams?For years I have volunteered and offered free foreclosure prevention and loan modification information on and off the internet. In doing so I have had many mortgage copy cats, critics and internet haters. Some of these very same ...
  4 days ago

• Appraiser Indicted for False Statements

  
  Mortgage Fraud Blog — Authority: 137
  Thomas Preston , 49, Norwalk, Connecticut, was indicted one count of making a false statement on a mortgage loan application. According to the indictment , Preston owned and managed a real estate appraisal company known as Redding Appraisers , and provided appraisals of real and commercial real estate in ...
  4 days ago

• MTSU Professor Sentenced for Mortgage Fraud Scheme

  
  Mortgage Fraud Blog — Authority: 137
  Pamela Gail Holder has been sentenced to 12 months and one day in prison for her role in a mortgage fraud scheme. Following a one-week jury trial in April 2009,  Dr. Holder  was found guilty of both bank and wire fraud charges. As previously reported on Mortgage Fraud Blog, Dr. Holder , a professor of ...
  4 days ago

• Suffolk Attorney Arraigned On 2nd Indictment

  
  North Country Gazette — Authority: 540
  SUFFOLK COUNTY—A Dix Hills attorney, arrested for his involvement in a mortgage fraud ring four months ago, pleaded not guilty to additional grand larceny and forgery charges Wednesday morning at his arraignment on a grand jury indictment in Suffolk County court Riverhead.Brandon Lisi is charged with two counts of ...
  4 days ago

• Obamas financial fraud task force has miles to go in restoring public confidence

  
  DailyFinance — Authority: 805
  Filed under: Economy You might think its a bit late in coming, but Attorney General Eric Holder announced a Financial Fraud Enforcement Task Force on Tuesday. Holder will lead the group along with Treasury Secretary Tim Geithner, Housing and Urban Development Secretary Shaun Donovan and Securities and Exchange ...
  5 days ago

• Second Missouri Man Sentenced in Major Mortgage Fraud Scheme

  
  Mortgage Fraud Blog — Authority: 137
  Robert P. Wrolstad , OFallon, Missouri, was sentenced on a mortgage fraud scheme involving the sale of residential real estate located in Sikeston, MO . After sentencing, the district court remanded Wrolstad to the custody of the United States Marshals to commence his sentence. Wrolstad was sentenced to ...
  5 days ago

• Deed Forger Sentenced in Real Estate Fraud Case

  
  Mortgage Fraud Blog — Authority: 137
  Oralia Hidalgo , 46, Colton, California, was sentenced to prison for real estate fraud related crimes. Hidalgo was ordered to serve five (5) years in the California state prison system. The defendant was found guilty on nine (9) felony counts ranging from forgery, grand theft, filing of false instruments, and a ...
  5 days ago

• Obama Creates Financial Fraud Enforcement Task Force

  
  Obama-Mamas.com — Authority: 431
  Attorney General Eric Holder, Treasury Secretary Tim Geithner, Housing and Urban Development (HUD) Secretary Shaun Donovan, and Securities and Exchange Commission (SEC) Chairwoman Mary Schapiro today announced that President Barack Obama has established by Executive Order an interagency Financial Fraud Enforcement ...
  5 days ago

• OFallon, Mo., man gets prison for mortgage fraud | St. Louis …

  
  Mortgage online — Authority: 160
  OFallon, Mo.
  6 days ago

• Exotic Dancer Opens Foreclosure Avoidance Company, Advertises on Gospel, Partner Punches Lawyer in Face

  
  How to Get Out of Debt - Free Help — Authority: 151
  LOL, OMG, you can’t make this stuff up. A Maryland woman who stole millions from Washington area homeowners trying to avoid foreclosure is a “vulture” whose case should serve as a warning to other con artists, a federal judge said yesterday before imposing a sentence of more than 12 years. Joy Jackson, 41, a ...
  6 days ago

• Man Arrested for Real Estate Ponzi Scheme

  
  Mortgage Fraud Blog — Authority: 137
  William Arthur Sassman II , 41, Sacramento, California, who "looted" the life savings of dozens of investors to bankroll his lavish lifestyle and prop up a multi-million dollar real estate and business Ponzi scheme, has been arrested. Sassman was arrested at his residence on a total of 100 counts: 43 counts of ...
  6 days ago

• Maryland woman sentenced in mortgage fraud (AP)

  
  Blogger — Authority: 167
  AP – Federal prosecutors say a woman has been sentenced to more than 12 years in prison for her role in a mortgage fraud scheme. Read more from the original source: (AP)"> (AP)">Maryland woman sentenced in mortgage fraud (AP)
  6 days ago

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