twitter linkedin
facebook google+

Mortgage News

News by Subject
Complete list of specialty news sections.

Purchase Subscription
Subscribe to and get immediate access to all news, statistics and archives.

Mortgage Advertising
Reach mortgage executives, loan originators and other people tied to mortgage industry.

Consumer Mortgage News
Free mortgage news for prospective borrowers.

Mortgage Newsletter
Free e-mail newsletter with the latest headlines from

Mortgage News Reprints
Put entire stories in your online or printed newsletter or publication.

Mortgage Feedget RSS code
Condensed stories free on your Web site or for your RSS reader.

News Archives
Archive of stories by month going back to 1999.

Press Releases
Reports and announcements from

Mortgage Statistics
Data and statistics for real estate finance.

Mortgage Directories
Directories of lenders, branch operators and mortgage service providers.

Mortgage Graphs
Directories of lenders, branch operators and mortgage service providers.

home subscribe advertise reprints e-mail help RSS about us LOG IN

Mortgage News


Mortgage News

HOT Topics









site map
Mortgage Lawsuits News | Mortgage Litigation Index
Mortgage industry lawsuit news and mortgage litigation coverage. Stories about legal settlements, judgments and mortgage class actions.

Lying Lawyers

Mortgage attorneys gone bad

July 11, 2007


photo of Patrick Crowley
The lure of easy money was enough to convince three attorneys in two states to break the law and avoid financial obligations to their real estate and mortgage clients.

Vincent J. Whibbs Jr. had a good career as a lawyer and a good name in Florida's panhandle. His father was the late mayor of Pensacola, he worked in a law firm with his son and once ran for Congress against Joe Scarborough, a former U.S. House member who now hosts cable and radio talk shows.

But Whibbs, 61, has been disbarred and faces up to 65 years in prison after admitting he stole nearly $700,000 from client's real estate trust accounts.

Court records filed in Escambia County, Fla., show that Whibbs pleaded no contest to embezzlement as well as mortgage fraud and racketeering.

Whibbs was also disbarred by the Florida Supreme Court late last year, court records show.

The fraud charge stems from an assisted living facility in Pensacola. Documents show that Whibbs convinced a couple to invest in the property under the guise he had an interest in the facility, when in fact he didn't.

Whibbs will be sentenced in August. He is free on bond.

Also disbarred from practicing law in Florida is Manuel "Manny" Arvesu, according to a state Supreme Court order.

Arvesu, 50, commingled personal and operating funds within a mortgage trust account, the court said. "When (Arvesu) was asked to provide supporting documentation to address (the) transactions ... he was unable to do so," according to the order.

Court records show that Arvesu was the closing attorney involving a mortgage for about $65,000. After the mortgage was not paid off, a complaint was made to the Florida Bar Association, which conducted an audit that uncovered the problems.

Court documents also show that Arvesu allegedly used some the funds for his personal use, including purchasing luxury cars, jewelry and home electronics. reported in September that Arvesu was suspended for 30 days. He is no longer able to practice law in the state.

In Kentucky suspended lawyer Dean Sexton has been sentenced to nearly three years in prison for his role in a mortgage fraud scheme that federal prosecutors say cost lenders from $400,000 to $1 million.

Sexton, 43, pleaded guilty to charges he conspired with two others to defraud several mortgage lenders, according to a statement from the U.S. Attorney's office for the Western District of Kentucky.

Prosecutors said the scheme involved using phony loan documents, including loan applications and HUD documents, as well as fraudulent information about borrowers' employment, income, assets, down payments and credit reports.

"The plea agreement ... stated that Sexton closed 12 loans in which he, as the closing attorney, falsely represented to the lenders that the buyers made payments at closings," prosecutors said. "During the closing of each of these 12 loans, Sexton and his co-conspirators induced the lenders to fund these loans through these false representations."

Two others -- Stan Siwek and Santiago Cruz -- have previously pleaded guilty in the scheme and are awaiting sentencing.

Patrick Crowley is a feature journalist and blogger for He is also a reporter, blogger and columnist for The Cincinnati Enquirer.
e-mail Patrick at: [email protected]

Mortgage Fraud News | Fraud Statistics | Fraud Index | Fraud Blog
Mortgage broker, originator and banker criminal cases. Real estate flipping and appraisal fraud. Mortgage fraud prevention, studies and analysis.

Real Estate News | Real Estate Statistics
Residential real estate news and coverage of how residential real estate impacts the mortgage industry and residential mortgage-backed securities.

Logout forgot

Mortgage Fraud Statistics
Government and private data on volume of mortgage fraud activity.

Mortgage Fraud Index
Dollar and index amount by quarter and state.

Mortgage Fraud Litigation
Lawsuits and settlements invoving mortgage fraud by a lender insider. From 2007 through first-quarter 2013

Mortgage Fraud News
News stories about fraud committed against home lenders.

Mortgage Fraud Blog
Actions in mortgage fraud criminal and civil cases.

local mortgage fraud

mortgage fraud links

SUBSCRIBERS: Edit Subscription | Subscription Help | or call 214.521.1300

Subscribe Contact Us Site Map

Copyright © 2017 Mortgage Daily, D a l l a s
Subsribers Only:

AMC directory

ARM indexes

mortgage company directory

mortgage regulations

net branch directory

p r i c i n g engine directory

wholesale lender directory

More Mortgage News Resources (full site map):

advertising news

appraisal news

bank news

biggest lenders

commercial mortgage news

corporate mortgage news

credit news

FHA news

financial regulation news

foreclosure news

GSE news

jumbo mortgage news

interest rates

loan modification news

loan originator survey

LOS Newsletter


mortgage associations

mortgage-backed securities

mortgage books

mortgage brokers

mortgage compliance

mortgage conferences

mortgage directories

mortgage education

mortgage employment

mortgage employment index

mortgage executives

mortgage fraud

mortgage fraud blog

mortgage fraud local news

Mortgage Fraud Index

Mortgage Graveyard

mortgage insurance news

mortgage lawsuits

mortgage leads

mortgage lender ranking

mortgage licenses

mortgage litigation

Mortgage Litigation Index

Mortgage Market Index

mortgage mergers

mortgage news

mortgage politics

mortgage press releases

mortgage production

mortgage public relations

mortgage rates

mortgage servicing

mortgage statistics

mortgage technology

mortgage video

mortgage Webinars

net branch

net branch directory

nonprime news

origination news

originator tools

real estate news

refinance news

reverse mortgage news

secondary marketing

social media

servicing news

subprime news

wholesale lenders