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Mortgage Lawsuits News | Mortgage Litigation Index
Mortgage industry lawsuit news and mortgage litigation coverage. Stories about legal settlements, judgments and mortgage class actions.

Mortgage Crimes Prosecuted

Recent activity in mortgage criminal cases

May 14, 2013

By SAM GARCIA Mortgage Daily

portrait of Sam Garcia

Many mortgage-related crimes are committed by people who don't necessarily work for a mortgage lender -- though it is often the mortgage firm that takes the hit. Defendants include attorneys, investment bankers and real estate investors.

In a guilty plea announced on April 12 by Preet Bharara, U.S. Attorney for the Southern District of New York, defendant Kareem Serageldin admitted that he fraudulently inflated the prices of bonds backed by subprime residential mortgage-backed securities and commercial MBS in Credit Suisse's trading book in late 2007 and early 2008. The scheme earned him $6.9 million in extra pay during 2007.

Serageldin, who worked as a managing director/global head of structured credit at Credit Suisse Group's investment banking division, was extradited from the United Kingdom.

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Sam Garcia founded Mortgage Daily in 1998 and became its full-time publisher in 2000. Prior to his news career he worked in mortgage lending for two decades.


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.

Mortgage Backed Securities | MBS News | MBS Statistics
News about commercial and residential mortgage-backed securities. Stories about ratings actions and changes to servicer ratings. Studies and reports about the performance of securitizations and problem vintages and classes. Subprime, Alt-A, home equity and j u m b o analysis.

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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.

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