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 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


July 14, 2011

Independence Couple Indicted For Mortgage Fraud

KANSAS CITY, Mo. - Beth Phillips, United States Attorney for the Western District of Missouri, announced today that a husband and wife from Independence, Mo., have been indicted for mortgage fraud.

Vavega Tialino, 61, and Toaono Tialino, 55, both of Independence, were charged in a four-count indictment returned by a federal grand jury in Kansas City, Mo., on Wednesday, July 13, 2011.

The indictment alleges that the Tialinos participated in a conspiracy to obtain multiple mortgage loans, which were approved by lenders based upon false and fraudulent representations made to the lenders, from December 2006 to Jan. 12, 2007.

According to the indictment, the Tialinos submitted false and fraudulent loan applications and supporting documents to lenders and to the title company in order to receive illegal kickbacks from the loan proceeds. The Tialinos received two loans, totaling $199,738, for the purchase of an Independence residence. In connection with the application for the two loans, the indictment says, the Tialinos submitted a false lease application and two fraudulent money orders, which falsely represented that their son was renting their existing residence.

The Tialinos also received a third loan for their existing residence, the indictment says, which was a $103,098 Federal Housing Administration-insured, cash-out, refinance loan. In their application for the mortgage loan, they allegedly omitted as liabilities the two additional loans for $199,738 that they had closed on just four days earlier. They also falsely stated that they intended to occupy the residence as their primary residence, the indictment says.

The indictment alleges that the Tialinos used the proceeds of these mortgage loans to pay off their loan on a Ford Expedition ($14,193), to pay off their previous mortgage loan ($79,287) and to receive $4,440.

In addition to the conspiracy, the Tialinos are each charged with wire fraud, mail fraud and money laundering. The indictment also contains a forfeiture allegation, which would require the Tialinos to forfeit to the government any property derived from the proceeds of the alleged violations, including a money judgment of $302,836.

Phillips cautioned that the charges contained in this indictment are simply accusations, and not evidence of guilt. Evidence supporting the charges must be presented to a federal trial jury, whose duty is to determine guilt or innocence.

This case is being prosecuted by Assistant U.S. Attorney Daniel M. Nelson. It was investigated by U.S. HUD-Office of Inspector General and U.S. Secret Service.

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

Local Mortgage Fraud news
News about local mortgage fraud.

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