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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.


Criminal Mortgage Actions

Recent legal activity involving alleged mortgage-related crimes

Dec. 30, 2009

By SAM GARCIA


A Colorado firm and its top originator are accused of deceiving prospective borrowers and committing mortgage fraud, while a Pennsylvania woman is accused of stealing appraisal fees from her employer. A New York attorney has joined a law firm where he hopes to help white collar defendants.

A complaint was filed in Fremont County District Court, Colo., by Attorney General John Suthers against Alternative Lending of Colorado, according to a recent announcement from the state. Also named as defendants are Managing General Partner James W. Dale III and originator April A. Bigler.

Bigler allegedly lied to prospective borrowers about interest rates and mortgages payments. She also would delay closings to increase pressure on borrowers to accept the inferior terms.

Bigler, a top producer, is also accused of colluding with appraisers to obtain inflated values; overstating borrowers' incomes; and failing to provide adequate loan disclosures in a timely manner. The state began investigating the company after it received more than 15 complaints.

"Nearly 44 percent of borrowers for whom Bigler originated a mortgage loan experienced some type of foreclosure action," the state said. "Dale is alleged to have known about Bigler's misconduct and not taken any disciplinary action."

The attorney general seeks restitution, civil penalties and disgorgement as well as an injunction barring the defendants from engaging in false and deceptive lending practices.

Kristine L. Brown was arrested over allegations she diverted $29,000 in appraisal payments from her employer, Mortgage Network Solutions in Pennsylvania, to three accounts she controlled at different banks, the Reading Eagle reported.

Bruce Barket will handle white collar criminal cases at Quadrino Schwartz, the New York-based law firm said in a Nov. 10 news release. The announcement touted Barket's success with securities cases, among other types.


Sam Garcia worked in mortgage lending for twenty years prior to becoming publisher of MortgageDaily.com in 2000.

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