Mortgage Daily

Published On: December 1, 2018

Mortgage Fraud News – 2018


blog | Mortgage Fraud Index | Fraud StatisticsFraud Litigation

 

Diamond Residential Mortgage Settles Alleged Fraud
Diamond Residential Mortgage Corp. has agreed to pay more than $1 million to settle alleged fraudulent activity by former employees.

Attorney Still Working on Lehman Mortgages
An attorney who was hired a decade ago to borrowers and mortgage brokers involvded in fraudulent mortgages owned by the bankruptcy estate of Lehman Brothers Holdings is still at it.

Refi Recession Drives Up Mortgage Fraud Risk
The quarterly level of fraud risk on residential loan applications has grown over the past year thanks to a decline in refinances and an increase in wholesale lending share.

Judgment Against RE Agent Impacts Mortgage Firms
A recent decision in a federal lawsuit has a real estate agent liable for negligently passing on fraudulent wiring instructions. The case has implications for mortgage lenders.

Loan Originator Sentenced to Prison
A Florida loan originator is headed to prison after admitting to federal authorities that he helped in the sale of condominiums by fooling mortgage lenders with bogus documents.

Purchases Drive Down Risk of Mortgage App Fraud
A significant improvement in application fraud on loans to finance home purchases pulled down overall risk from a month earlier and a year earlier.

Mortgage Fraud Scheme Uses Fake Employers
A new scheme been uncovered where bogus businesses are being listed as the employer of prospective borrowers on home loan applications.

LO Sentenced for Fraud Short-Sale Scheme
A loan officer has been ordered to prison for her role in a scheme to defraud mortgage companies into agreeing to short sales. Her accomplices include attorneys.

Mortgage LO Sentenced to Prison
A New Jersey mortgage loan originator has been sentenced to hard time because of his role in a scheme involving $6 million in fraudulent residential loans.

Fraud Risk Up on Refis, Down on Purchases
Although the risk of fraud decreased last month on loans to finance a home purchase, an increase was recorded for refinances. Overall risk was lower.

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