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


Jan. 3, 2014

Colorado Springs Real Estate Agents Settle Allegations That They Engaged in Real Estate Fraud

DENVER—Jana DeWitt and Kenneth Westfall, licensed real estate agents operating in Colorado Springs, have paid the United States $93,500 in civil penalties to settle allegations that they engaged in deceptive conduct that violated the Financial Institutions Reform Recovery and Enforcement Act (FIREEA).

According to the United States, Jana DeWitt engaged in fraud in at least 17 bank-owned properties by falsely listing her daughters as the buyers, in order to conceal the fact that Ms. DeWitt herself was the real party in interest. Ms. DeWitt's employing broker, Mr. Westfall, was the listing agent for each of these transactions. He had a responsibility, and in some cases a duty based on the language of the listing contracts used in the transactions, to disclose to the sellers that the real party in interest purchasing the property was affiliated with him and his company. But he did not do so, despite the fact that he knew that Ms. DeWitt, his employee, was the real party in interest purchasing the properties.

To facilitate each of these transactions, Ms. DeWitt wired money from her own accounts to the closing company as the purchase funds for the transaction. She falsified her own bank account statements to make them appear that the account was held in the name of her daughters, thus providing the seller with proof of funds for purchase while concealing that she was the real party in interest. For each of these transactions, Mr. Westfall knowingly failed to notify the seller that Ms. DeWitt was the real party in interest purchasing the property and that Ms. DeWitt was affiliated with him and his company.

The investigation leading to the settlement was conducted in conjunction with the Federal Bureau of Investigation (FBI).

Assistant U.S. Attorney Jamie Mendelson handled this matter on behalf of the government.

The settlement agreement is neither an admission of liability by Ms. DeWitt or Mr. Westfall, nor a concession by the United States that its claims are not well founded.

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

mortgage fraud case stories

mortgage fraud headlines

mortgage fraud blog

Mortgage Daily headlines

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