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Local Mortgage Fraud News Stories
Illegal Flipping Schemes, Appraisal Fraud and other Mortgage Fraud


July 2011 Archive
Last Updated Monday, January 02, 2012 04:23 PM Texas Time


Mortgage Fraud Wire


Local, State and Federal Government Announcements

Real Estate Agent Caught in $5 Million Condo Scheme
Charges have been filed against a Minnesota real estate agent in a case involving more than $5 million in mortgage fraud on over 130 condominium units.

Guilty Pleas in Mfg Housing Scam
Guilty pleas have been extracted from a former mortgage broker and the owner of the manufactured housing dealership that collected $2 million in proceeds as a result of the mortgage fraud scam. The broker's wife is scheduled to be arraigned next month.

Real Estate Agent Sentenced in Short Sale Scheme
A real estate agent who pleaded guilty in an elaborate short-sale mortgage fraud scheme has been sentenced to eight months in a federal prison, plus three years of supervised release. A second agent who pleaded guilty awaits sentencing.

Mortgage Broker Charged, 5 Others Might Follow
A Minnesota mortgage broker was charged Friday in a $20 million mortgage fraud scam, and the charging papers indicate that the case could eventually pull in several co-conspirators.

Cop Avoids Mortgage Fraud Prosecution with Guilty Plea for Unfiled Tax Return
A former Lexington, Ky., police officer, accused of taking part in a conspiracy to defraud mortgage companies of more than $2 million, has pleaded guilty to failing to file an income tax return for 2005. The case has already yielded guilty pleas from a mortgage broker and an attorney who owned a title company.

Guilty Plea from Georgia Candidate
The last of three defendants has pleaded guilty for his role in a mortgage fraud scheme that allegedly cost lenders $1 million. The defendant, who previously ran for a spot on a city commission, joins a real estate appraiser in admitting guilt in the case.

Scheme Involved 56 properties, 18 Players
A new filing in New Jersey mortgage fraud case indicates that mortgage lenders lost more than $40 million in a scheme involving 56 properties and 18 co-conspirators.

Mortgage Broker Earned $60k from $2 Million in Fraudulent Loans
A North Carolina mortgage broker was sentenced to more than a year in federal prison for participating in a $2 million mortgage fraud.

Mortgage Firm Owner, 6 Employees Indicted
A federal grand jury has indicted the owner of a California mortgages firm and six of his employees for allegedly running a $4 million mortgage-fraud scheme.

Guilty Plea Expected from Mfg Housing Mortgage Broker
A guilty plea is expected from a mortgage broker in a case involving loan for manufactured homes.

2 Texas LOs Convicted
More than three dozen mortgage lenders were defrauded in more than a hundred Texas transactions by a crew of 40 people who, the U.S. Department of Justices alleges, caused $20 million in losses. Two loan originators were found guilty of contributing to the scheme.

Couple, Texan Charged in Separate Indictments
Separate indictments were handed down in cases involving Kansas properties. One indictment was issued against a Kansas couple and the other against a Texas man.

Mortgage Broker Charged in $7 Million Scheme
A Pennsylvania mortgage broker was charged in a $7-million mortgage fraud scheme involving nearly three dozen loans.

Developer Pleads Guilty to Defrauding HUD
A real estate developer who has admitted to defrauding the Department of Housing and Urban Development could face up to 15 years in prison.

RE Agent to Serve 4 Years in Prison
A real estate agent in Virginia was sentenced to more than four years in prison after admitting to defrauding mortgage lenders on 16 loans.

PA Conviction Follows 2 Sentencings
A federal jury voted to convict a Pennsylvania man of mortgage fraud. The conviction follows two sentencings of co-defendants.

Appraiser Sentenced in $14 Million Case
An appraiser in a $14 million mortgage fraud scheme has been sentenced to less than a year behind bars.

Prestigious Law Firm Tangled in Fraud Case
Two former employees of a prestigious law firm in Tampa, Fla., are accused of participating in a $6.9 million mortgage fraud scheme. A property management agreement used in the scheme was allegedly drafted by the law firm.

Husband, Wife & Daughter Plead Guilty
To say that the apple doesn't fall far from the tree is an understatement in a Texas case involving more than 70 properties.

Real Estate Agent Created Fake FHA Verifications
A real estate agent in Texas who admitted in May to participating in a mortgage fraud scheme eight years earlier is set to be sentenced in September. The agent allegedly created fake verifications on government-insured mortgages.


Second Chico Home Builder Pleads Guilty In Federal Court
Troy Woman Pleads Guilty to Multiple Fraud Offenses
MORTGAGE FRAUD TAKE-DOWN LEADS TO CHARGES AGAINST TWENTY-SEVEN SOUTH FLORIDA RESIDENTS
Modesto Man Indicted For Mortgage Fraud Scheme
Former New Jersey Mortgage Broker Admits Role in Multi-Million-Dollar Mortgage Fraud Scheme
SECOND NEW JERSEY MAN ADMITS ROLE IN $40.8 MILLION MORTGAGE FRAUD SCHEME
St. Paul woman charged in mortgage fraud scheme
Real Estate Agent Sentenced to Federal Prison for Defrauding Bank in Short Sale Mortgage Fraud Scheme
Mortgage Broker Charged in $20 Million Mortgage Fraud Scheme
Attorney Sentenced to Prison for Wire Fraud and Money Laundering in a Multi-Million Dollar Mortgage Fraud Scheme
FOR IMMEDIATE RELEASE
PHILIP R. LOCHMILLER, SR. FOUND GUILTY OF CONSPIRACY, MONEY LAUNDERING CONSPIRACY, MONEY LAUNDERING AND MAIL FRAUD
East Haven Man Admits Obtaining $4.7 Million in Fraudulent Mortgages on 21 Homes in New Haven County
NEW JERSEY MAN ADMITS TO $40.8 MILLION MORTGAGE FRAUD SCHEME
Elizabeth Woman Pleads Guilty as Part of Mortgage Fraud Scheme
Virginia Real Estate Businessman Pleads Guilty to Mortgage and Investment Fraud Schemes
Seven Real Estate Professionals Indicted for Mortgage Fraud
JURY CONVICTS LOAN OFFICERS IN WIDESPREAD MORTGAGE FRAUD SCHEME
NEVADA MAN CHARGED IN MULTI-MILLION DOLLAR MORTGAGE FRAUD SCHEME INVOLVING BEACH PROPERTIES
Independence Couple Indicted For Mortgage Fraud
Former Kansas Man Indicted for $2.3 Million Mortgage Fraud Scheme
Realtor Sentenced To 51 Months In Prison For $2.4 Million Mortgage Loan Fraud
Two Former Real Estate Agents Plead Guilty To Mortgage Fraud Scheme
Hogsett Announces Indictment of Ex-Indianapolis-Area Realtor in Mortgage Fraud Scheme
Real Estate Agent, Loan Officer Among Five Defendants to Plead Guilty to $11 Million Mortgage Fraud
Four Plead Guilty in Overland Park Mortgage Fraud Scheme
Four Indicted in Drug Trafficking, Mortgage Fraud Scheme
Stamford Man Admits Defrauding Mortgage Lenders in $4 Million Scheme
Meridian Real Estate Agent Sentenced For Mortgage Fraud
Six Charged in Marijuana Trafficking, Money Laundering and Mortgage Fraud Investigation
EMMETSBURG, IOWA, REAL ESTATE BROKER CONVICTED OF MAIL FRAUD
THREE LOAN OFFICERS AND A TITLE AGENT CHARGED IN $2.5 MILLION REVERSE MORTGAGE AND LOAN MODIFICATION SCHEME
TRIAL DATE SET IN MULTI-MILLION DOLLAR MORTGAGE FRAUD CASE
Mortgage Loan Appraiser Sentenced to Prison
Mother, Daughter, Father Plead Guilty to Mortgage Fraud Scam
Two Indicted, Arrested in $17 Million Mortgage Fraud Scheme
Preacher Sentenced for Role in Mortgage Fraud Scheme

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



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News stories about fraud committed against home lenders.



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Actions in mortgage fraud criminal and civil cases.



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