twitter linkedin
facebook google+
Search:

Mortgage News

News by Subject
Complete list of specialty news sections.

Purchase Subscription
Subscribe to MortgageDaily.com 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 MortgageDaily.com.

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

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

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

Press Releases
Reports and announcements from MortgageDaily.com.

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

production

servicing

compliance

legal

fraud

secondary

jobs

appraisal

site map


subscribe to free Mortgage Daily email newsletter

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.



P R E S S   R E L E A S E

FOR IMMEDIATE RELEASE:

May 18, 2012


Local Woman Sentenced in Credit Repair Scam Involving Approximately 80 Hawaiian Victims

ST. LOUIS, MOŚMarien Brown was sentenced to 18 months in prison and ordered to pay approximately $250,000 restitution for falsely representing that she operated a "mortgage rescue" or "foreclosure rescue" service.

According to court documents, Marien Brown, a/k/a Marien White, owned and operated both 1st Financial Resource LLC (First Financial) and 1st Federal Resource LLC (First Federal). She created and operated First Financial from September 2008 until March 2009, at which time the business became known as 1st Federal Resource LLC (First Federal). She registered the business as 1939 Wentzville Parkway, Suite 178 in Wentzville, Missouri, which is actually a UPS store that provides commercial mailbox services. She actually conducted the business from her residence on Ivy Brook Court in Wentzville.

Brown researched and identified groups of homeowners in the state of Hawaii that were one or more mortgage payments behind or were in imminent risk of home foreclosure and then targeted that group of vulnerable home owners and sent out a large number of unsolicited mailings to prospective clients representing that she operated a "mortgage rescue" or foreclosure rescue" service. More than 80 clients responded to her mailings and wired funds to First Financial and to First Federal. Marien Brown converted these funds to her own use. None of the client funds were ever sent to lenders.

Clients quickly realized that their funds had not been sent to their lenders and that no new mortgage rates had been negotiated. Clients then began to call their mortgage holders who, advised that they had no knowledge of, and no relationship with, First Federal or Marien Brown. Clients then attempted to reach Marien Brown and repeatedly left messages for her. The only way clients were able to get her to return calls was to leave a message expressing a desire to wire her additional funds. The losses as a result of her scheme are approximately $250,000.

Brown, 42, Wentzville, Missouri, pled guilty in September to three felony counts of wire fraud, and appeared today for sentencing before United States District Judge Rodney W. Sippel.

This case was investigated by the Federal Bureau of Investigation and the Postal Inspection Service. Assistant United States Attorney Howard J. Marcus handled the case for the U.S. Attorney's Office.


Source: United States Attorney's Office for the Eastern District of Missouri


mortgage fraud case stories


mortgage fraud headlines

mortgage fraud blog

Mortgage Daily headlines


Local Mortgage Fraud news
News about local mortgage fraud.


Logout forgot
password?

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

free mortgage news

GSE news

jumbo mortgage news

interest rates

loan modification news

loan originator survey

LOS Newsletter

MBS

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

sales blog

secondary marketing

social media

servicing news

subprime news

wholesale lenders

wireless mortgage news