Six people are facing charges related to allegations that they bought homes and, through misrepresentation, secured overly large loans. The alleged mortgage fraud scheme is said to have defrauded real estate investors and banks out of nearly $6 million. The arrests...
Mortgage Fraud
Mortgage Fraud Investigation Leads to Nine Indictments
Several properties northwest Florida were supposed to be part of a real estate development project known as Riverwalk. The subdivision never happened and nine people involved in the project have now been indicted for mortgage fraud schemes involving the land. The...
Massive Mortgage Fraud Task Force Launched
Even as several state attorneys general seek to settle with five major banks over the robo-signing of mortgage documents, a group of 55 Justice Department attorneys and other government officials from all over the country have joined up to investigate the formation...
Mortgage Fraud a Common Practice
As the former executive vice president in charge of fraud investigations at Countrywide Financial, Eileen Foster has a keen understanding of how the mortgage industry works. She has now acknowledged that mortgage fraud not only occurred at Countrywide, but was in fact...
Mortgage fraud and organized crime
After conducting raids in Florida, Texas and New Jersey, federal prosecutors charged thirteen people with wire fraud, money laundering, racketeering, securities fraud and making false statements on loan applications. The mortgage fraud case is noteworthy because FBI...
Palm Beach County, Florida, rank high in mortgage fraud
The second quarter numbers are in and Palm Beach County passed Broward and Miami-Dade counties to move into sixth place nationally in reported mortgage fraud. Florida as a whole moved into second position, behind only California in mortgage fraud reports per capita....
Charges filed in $40 million mortgage fraud case
Federal prosecutors have charged 20 South Florida residents in one of the largest indictments in recent memory. The group, made up of mostly professionals in the real estate and banking industries, faces charges for their alleged participation in a massive mortgage...
Mortgage fraud arrests still rising
The Federal Bureau of Investigation recently acknowledged that one of its most targeted activities is still on the rise. According to the FBI's year-in-review report on mortgage fraud, the instances of fraudulent behavior have increased despite fewer home sales. The...
Twenty-Seven Charged in Florida for 4 Separate Mortgage Fraud Schemes
Earlier this week the U.S. Attorney's Office in Miami unsealed four separate indictments that accuse 27 people committing mortgage fraud against homeowners in South Florida.The four indictments involve numerous different schemes, from mail fraud and insurance fraud to...
Mortgage industry continues robo-signing documents
Over eight months ago mortgage companies and giant banks across the nation promised to clean up their acts when it came to mortgage documents. As the housing bubble burst, and the mortgage industry collapsed, many large lenders and banks came under scrutiny for their...
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