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:

Feb. 9, 2012


President of Broward Title and Escrow Company Charged in Multi-Million Mortgage Fraud Scheme

Wifredo A. Ferrer, United States Attorney for the Southern District of Florida, Vance Luce, Acting Special Agent in Charge, United States Secret Service, Miami Field Office, and Tom Grady, Commissioner, State of Florida's Office of Financial Regulation, announced today that defendant Michelle Austin-Wilks, 38, of Parkland, Florida, was charged in a federal criminal complaint with wire fraud, in violation of Title 18, United States Code, Section 1343, for her participation in a mortgage fraud scheme. If convicted, Austin-Wilks faces up to thirty years' imprisonment on the wire fraud charge.

According to the criminal complaint, Michelle Austin-Wilks was President and Director of Direct Title & Escrow Services, Inc., in Oakland Park, Florida. Austin-Wilks and others allegedly engaged in a scheme to enrich themselves by fraudulently buying and selling residential real estate property in Broward County through straw buyers. These straw buyers obtained high value mortgages based on fraudulent mortgage loan applications and closing statements.

According to the complaint, after the lenders approved the loans based on the false loan applications, Austin-Wilks prepared false HUD-1 Settlement Statements that, among other things, falsely represented to the lenders that the straw buyers were bringing their own money to closing. She also created and submitted duplicate HUD-1 Settlement Statements for the same real estate transaction, reflecting different sales prices to the seller and to the lender. The lender's version reflected a significantly higher purchase price than the seller's version of the HUD-1 Settlement Statement.

After closing, the lenders wired a total of approximately $3 million in mortgage loan proceeds into Direct Title & Escrow's bank account, which was controlled by Austin-Wilks. Thereafter, defendant Austin-Wilks wire transferred $68,562 and $382,000, respectively, to a mortgage broker and a straw buyer for their assistance in the mortgage fraud scheme. The mortgage broker, Jinnie Mathurin, has pled guilty to one count of wire fraud and is scheduled to be sentenced on February 28, 2012, before U.S. District Judge Donald M. Middlebrooks. The straw buyer, Guhier Florvilus, has also pled guilty to one count of wire fraud and is scheduled to be sentenced on March 1, 2012, before U.S. District Judge Daniel T.K. Hurley.

Mr. Ferrer commended the investigative efforts of the U.S. Secret Service and Florida's Office of Financial Regulation. Mr. Ferrer also commended the U.S. Marshal's Service for their substantial efforts in locating defendant Austin-Wilks in Jamaica and returning her to the United States to face charges. This case is being prosecuted by Assistant U.S. Attorney Randy Katz.

A complaint is only an accusation and a defendant is presumed innocent until and unless proven guilty.

A copy of this press release may be found on the website of the United States Attorney's Office for the Southern District of Florida at http://www.usdoj.gov/usao/fls. Related court documents and information may be found on the website of the District Court for the Southern District of Florida at http://www.flsd.uscourts.gov or on http://pacer.flsd.uscourts.gov.


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

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