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:

Jan. 10, 2012


Kirby Lofts Borrower Pleads Guilty

HOUSTONóRobert Veazie has pleaded guilty to a fourth superseding criminal information in connection with obtaining residential home loans, including some in the Kirby Lofts condominium complex, United States Attorney Kenneth Magidson announced today. Veazie entered his plea to one count of filing a false income tax return for failing to report funds he was paid to act as a borrower on the loans late yesterday before U.S. District Judge Lee Rosenthal.

Others charged in this scheme to defraud residential lenders in connection with single family residences and individual condominium purchases in a building located at 917 Main Street in Houston, also known as the "The Kirby Lofts," have also pleaded guilty. Derwin Frazier, 45, of Pearland, Texas, pleaded guilty to one count of conspiracy to launder money, while Brenda East, 50, and Veronica Frazier, 43, both previously pleaded guilty to one count of conspiracy to commit wire fraud.

The criminal information alleged the Kirby Lofts and other single family homes were sham sales. From approximately December 2004 to October 2006, Derwin Frazier recruited individuals with good credit to act as borrowers in applications for mortgage loans to purchase units in Kirby Lofts and elsewhere. Co-conspirators assisted these "straw borrowers" with providing false information and documents, including bogus letters and false verifications of bank balances, to induce lenders to fund residential home purchases. Derwin and Veronica Frazier, as well as East, submitted invoices for payment from loan proceeds and used the money to pay themselves and straw borrowers like Veazie from loan proceeds.

Veazie faces up to three years' imprisonment and a fine of up to $250,000 at his sentencing, set for May 15, 2012. He has also agreed to pay restitution as ordered by the court.

The investigation leading to the charges was conducted by the FBI and Internal Revenue Service-Criminal Investigations. Assistant United States Attorneys Belinda Beek and Martha Minnis are prosecuting the case.

The case is part of President Barack Obama's Financial Fraud Enforcement Task Force and was part of "Operation Stolen Dreams," a nationwide dragnet which targeted mortgage fraudsters throughout the country, the largest collective enforcement effort ever brought to bear in confronting mortgage fraud. President Obama established the interagency Financial Fraud Enforcement Task Force to wage an aggressive, coordinated and proactive effort to investigate and prosecute financial crimes. The task force includes representatives from a broad range of federal agencies, regulatory authorities, inspectors general and state and local law enforcement who, working together, bring to bear a powerful array of criminal and civil enforcement resources. The task force is working to improve efforts across the federal executive branch, and with state and local partners, to investigate and prosecute significant financial crimes, ensure just and effective punishment for those who perpetrate financial crimes, combat discrimination in the lending and financial markets, and recover proceeds for victims of financial crimes.


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

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