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Mortgage Fraud Lawsuits Second-Quarter 2010 Mortgage Litigation Index

Mortgage Daily

Published On: September 13, 2010
Mortgage Fraud Lawsuits
Second-Quarter 2010 Mortgage Litigation Index
Big cases involving mortgage fraud, flipping, identity theft and inflated appraisals where a lender employee is involved..
Defendant
Plaintiff
Court
Amount
Overview
Case Title
Case Number
 Date Filed Link to Story
David Crisp; Jennifer Crisp; Robinson Nguyen; Jayson Costa; David Whisler; Justin Eddleman; Lynnmai Nguyen; John Balfanz Homes, Inc.; Towner Lending; Crisp, Cole & Associates; Carl Cole; Christopher Stovall; Jerald Teixeira; Kirksey J. Newton, Jr.; San Joaquin Appraisals Inc.; James Rudic; Gary Killian; Timothy Hubbell; Comprehensive Business Solutions; Hilda Gonzalez; Keven Sluga; California Business Solutions; Hayser Lopez Fremont Reorganizing Corporation Superior Court of California; County of Kern $40,000,000 Kirksey J. Newton, Jr., an appraiser, has reached a tentative agreement with Fremont Reorganizing Corp. Newton allegedly appraised properties Fremont later approved loans on at far more than they were worth. Fremont had approximately $8.56 million in actual losses and liability exposure after funding loans based on the appraisals. Fremont Reorganizing Corporation v. Crisp S-1500-CV-266060 1/8/09 www.mortgagedaily.com/MCTLawsuitAppraiserFremont061110.asp
Gennaro Rauso United States of America United States District Court for the Eastern District of Pennsylvania $400,000 Through his Pennsylvania company, D&B Property Investors, Rauso allegedly took title to the properties of desperate homeowners, leased the properties back to the borrowers and used tactics like bankruptcy filings to delay and obstruct foreclosures. U.S. v. Rauso n/a n/a www.mortgagedaily.com/LitigationForeclosure062910.asp
William T. Bridge United States United States District Court for the Eastern District of California na Mortgage broker sentenced to 21 months in jail for paying kickbacks to an employee of Washington Mutual in order that the bank process fraudulent mortgages United States v. Bridge 16-Jun-08 www.mortgagedaily.com/BrokerBribe042010.asp
Branch Banking & Trust Company Amy Stroupe U.S. Department of Labor n/a Plaintiff was fired after uncovering a $100 million Ponzi scheme, funded in part with $20 million in fraudulent loans funded by her employer. An Administrative Law Judge ordered Defendant to reinstate Plaintiff to her position as a corporate fraud investigator after finding that Defendant violated the whistleblower provision of the Sarbanes-Oxley Act. Stroupe v. Branch Banking & Trust Co. Case No. 2008-SOX-00047 11-Sep-07 www.mortgagedaily.com/LawsuitBbt040610.asp
Rolando Alonzo Cousins United States of America United States District Court for the District of Maryland $471,700 As a senior loan officer for Metropolitan, Cousins allegedly promised delinquent borrowers he could save them from foreclosure by taking title to their properties and giving it back at a later date. Instead, he allegedly used mortgage fraud to obtain loans on the properties and extract the equity. Cousins has plead guilty to his role. U.S. v. Cousins 10-00089 3/8/10 www.mortgagedaily.com/LitigationForeclosure062910.asp
1st quarter 2010 mortgage fraud lawsuits

4th-quarter 2009 mortgage fraud lawsuits

3rd-quarter 2009 mortgage fraud lawsuits

2nd-quarter 2009 mortgage fraud lawsuits

1st-quarter 2009 mortgage fraud lawsuits

4th-quarter 2008 mortgage fraud lawsuits

3rd-quarter 2008 mortgage fraud lawsuits

2nd-quarter 2008 mortgage fraud lawsuits

1st-quarter 2008 mortgage fraud lawsuits

full-year 2007 mortgage fraud lawsuits

 

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