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


June 9, 2012

Cleveland Appraiser Faces Prison Following Convictions On 16 Counts Related To $3.25 Million Mortgage Fraud Scheme

A Cleveland woman was convicted on 16 counts related to a $3.25 million mortgage fraud involving dozens of properties in Northeast Ohio, said Steven M. Dettelbach, United States Attorney for the Northern District of Ohio.

Lavon Ruderson, 42, is scheduled to be sentenced by U.S. District Judge Daniel A. Polster on Sept. 4. She faces a recommended guideline range of between 87 and 108 months in prison.

"This defendant lied to defraud banks and steal money from them," Dettelbach said. "It's not just banks that were the victims. Neighborhoods suffered when these homes went into foreclosure."

Ruderson worked as an appraiser. A jury found that she appraised properties' at values far in excess of their true market value, allowing Kimberly Wilson, through her companies, to fraudulently profit by obtaining the excess funds from the mortgage loans for Wilson's personal use and the use of other defendants, such as straw buyers.

For example, Ruderson appraised different homes on East 126 Street, East 119 Street, East 77 Street, East 69 Street, Korman Avenue and Blaine Avenue as having values in the range of $80,000 to $95,000 when their true values were about half that, according to court records.

She was convicted on one count of conspiracy to commit wire fraud involving a mortgage fraud scheme and 15 counts of wire fraud.

Ruderson is the last of 13 defendants to be found guilty for their roles in a scheme that, over all, involved 28 properties and caused losses of nearly $2 million.

This case was prosecuted by Assistant United States Attorney Mark S. Bennett and Special Assistant United States Attorney Micah Ault following an investigation by the Federal Bureau of Investigation.

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

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