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Secondary Marketing Lawsuits Fourth Quarter 2008 Mortgage Litigation Report

Mortgage Daily

Published On: March 9, 2009
Secondary Marketing Lawsuits
Fourth Quarter 2008 Mortgage Litigation Report
Cases related to secondary marketing, warehouse lending and repurchases.
Defendant
Plaintiff
Court
Amount
Overview
 Case Title
Case Number
 Date Filed Link to Story
Steven Gordon United States U.S. District Court for the Southern District of Florida $66,000,000 A former executive of Bayview Financial LP has been accused by federal prosecutors of defrauding secondary investors and earning nearly $3 million in the process; Steven Gordon allegedly modified data on mortgage loan securitizations to inflate his incentive pay. United States of America vs. Steven Gordon Case No. 08-21103-CR-Jordan/McAliley Dec. 11, 2008 www.mortgagedaily.com/SecondaryFraud121208.asp
RBC Mortgage Co. Department of Justice na $10,700,000 The Royal Bank of Canada’s U.S. mortgage unit has agreed to pay more than $10 million to settle charges of mortgage fraud on loans insured by the Federal Housing Administration. The scheme involved fraudulent statements regarding the borrowers’ credit, employment or source of equity. RBC also agreed to a separate $0.3 million settlement over false claims that a HUD audit was certified as current. na na na www.mortgagedaily.com/FraudSettlementRbc112608.asp
Thomas Kontogiannis, Georgia Kontogiannis, Lisa DiPinto a/k/a Lisa Kontogiannis aka Lisa Pallatos, Annette Apergis a/k/a Annette Johnson, Chloe Kontogiannis, Adam DiPinto, Elias Apergis, John T. Michael, Michael A. Gallan, ESQ., Ted Doumazios, ESQ., Thomas F. Cusack, III, ESQ., Stephen P. Brown, ESQ., Steven A. Martini, Carmine Cuomo, Coastal Capital Corporation d/b/a Clearlight Mortgage, Edgewater Development Inc., Group kappa Corp., Loring Estates LLC, Parkview Financial Inc., d/b/a Parview Financial Inc., Clear View Abstract LLC, Triumph Abstract LLC, Bond & Walsh Construction Company, Interamerican Mortgage Corp., Corinne Michael, Block 13434 Development LLC, Conat Realty LLC, Plaza Real Estate Holding Inc. and Doe’s 1 through 100, inclusive DLJ Mortgage Capital Inc. U.S. District Court for the Eastern District of New York $50,000,000 DLJ Mortgage Capital Inc. claims it was defrauded on $50 million in loans. Kontogiannis and his crew allegedly sold more than 95 mortgages for more than $50 million that were secured by fake real estate transactions to DLJ and other federally insured financial institutions over several years. The loans were included in pools of loans that included 1,800 legitimate loans for around $250 million. DLJ Mortgage Capital Inc., Plaintiff, against Thomas Kontogiannis, Georgia Kontogiannis, Lisa DiPinto a/k/a Lisa Kontogiannis aka Lisa Pallatos, Annette Apergis a/k/a Annette Johnson, Chloe Kontogiannis, Adam DiPinto, Elias Apergis, John T. Michael, Michael A. Gallan, ESQ., Ted Doumazios, ESQ., Thomas F. Cusack, III, ESQ., Stephen P. Brown, ESQ., Steven A. Martini, Carmine Cuomo, Coastal Capital Corporation d/b/a Clearlight Mortgage, Edgewater Development Inc., Group kappa Corp., Loring Estates LLC, Parkview Financial Inc., d/b/a Parview Financial Inc., Clear View Abstract LLC, Triumph Abstract LLC, Bond & Walsh Construction Company, Interamerican Mortgage Corp., Corinne Michael, Block 13434 Development LLC, Conat Realty LLC, Plaza Real Estate Holding Inc. and Doe’s 1 through 100, inclusive, Defendants Case. No. CV-08-4607 Nov. 13, 2008 www.mortgagedaily.com/LawsuitDljVsKontogiannis112108.asp

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