Fannie Requiring Seller-Servicer Employee Screening
Prospective employees of companies that are approved Fannie Mae sellers or servicers will need to be screened for exclusion from a regulatory list.
Mortgage Broker Headed to Jail
A former mortgage broker in Pennsylvania has been sentenced to more than three years in prison for duping wholesale lenders.
Rock Star Loses Appeal in Lawsuit Against Chase
A federal appeals court has upheld a foreclosure by JPMorgan Chase Bank, N.A., on a home owned by a former classic rock star.
Citi Sues Former Owners of Defunct Mortgage Lender
CitiMortgage Inc. is suing the former owners of a defunct mortgage banker alleging that it was defrauded on several loans it acquired from the lender.
Former Wells Fargo Manager Off to Prison
A former manager at Wells Fargo Home Mortgage Inc. has been handed down a prison sentence for defrauding his former employer.
Property Valuation Fraud Risk Soars
Although the overall risk of mortgage fraud has changed little, a troublesome rise has been reported for the risk of valuation fraud.
Freddie Updates Lending, Reporting Policies
Policy updates issued by the Federal Home Loan Mortgage Corp. impact mortgage fraud reporting, large deposits and the use of a power of attorney.
Former W.R. Starkey LO Agrees to Consent Judgment
A long-running North Carolina case involving allegations of mortgage fraud and deceit has come to a conclusion. W.R. Starkey Mortgage previously reached a multi-million-dollar settlement for its role.
Big Breaks For Cooperative Mortgage Fraud Defendants
Federal prosecutors in Pittsburgh-area mortgage fraud cases have been found to give bigger-than-usual breaks to defendants whose help leads to more prosecutions.