Mortgage fraud

Defendants Allegedly Violated Consumer Protection, Civil Racketeering Acts

June 17, 2008 -- TRENTON -- New Jersey Attorney General Anne Milgram filed mortgage fraud lawsuits against 36 defendants charging consumer fraud and civil racketeering by various mortgage brokers, real estate entities and others throughout New Jersey.    » read more »

May 8, 2008 -- TALLAHASSEE, FL – Florida Attorney General Bill McCollum today announced that a Central Florida woman has been sentenced to 18 years in prison to be followed by 10 years of probation for participating in criminal mortgage fraud schemes.

Patricia C. Grant and her daughter, Geisha Morris, were previously found guilty by an Orange County jury for their role in a mortgage fraud ring that operated throughout Central and South Florida. The case was prosecuted by the Attorney General’s Office of Statewide Prosecution.    » read more »

April 15, 2008 -- WASHINGTON, DC-Today, U.S. Senators Bob Casey (D-PA) and Mel Martinez (R-FL) were joined by Congressman Paul Kanjorski (D-PA) and Congresswoman Judy Biggert (R-IL) to announce the introduction of the bipartisan Fair Value and Independent Appraisal Act in the Senate.

The bill, which is substantially similar to a proposal advanced in the House by Congressman Kanjorski and Congresswoman Biggert, aims to combat mortgage fraud and prevent “house flipping schemes” by requiring a second independent appraisal for high-risk, high interest mortgages.    » read more »

April 7, 2008 -- WASHINGTON, DC-Today, U.S. Senator Bob Casey (D-PA) introduced an amendment to the Truth in Lending Act to combat mortgage fraud and prevent “house flipping schemes.” The amendment, introduced with the support of Senator Mel Martinez (R-FL), would require a second independent appraisal for high-risk, high interest mortgages.

“A disturbing byproduct of the increased rates of foreclosures is unscrupulous individuals trying to profit from other people’s losses,” said Senator Casey. “Stopping these flipping schemes will help give confidence to those buying homes that appraisals on their new homes are accurate and won’t come back to haunt them later.”    » read more »

Deceptive Tactics Sent Five Homeowners into Foreclosure

April 8 , 2008 -- Chicago – Illinois Attorney General Lisa Madigan filed a lawsuit late yesterday against a Chicago-based mortgage rescue fraud firm for allegedly violating the Consumer Fraud and Deceptive Business Practices Act for activities that have caused at least five homeowners to lose their homes to foreclosure.    » read more »

April 3, 2008 -- LANSING - Michigan Governor Jennifer M. Granholm today signed a 13-bill package that will help protect Michigan consumers from mortgage fraud and unfair lending practices by requiring the state's estimated 20,000 mortgage loan officers to register with the state's Office of Financial Services (OFIS).

House for sale sign: Photo by mrbill (CC)    » read more »

Nation’s Two Largest Purchasers of Home Loans Agree to Only Buy Mortgages From Banks That Meet Requirements of New Home Value Protection Code

NEW YORK, NY (March 3, 2008) – New York Attorney General Andrew M. Cuomo today announced that the nation’s two largest purchasers of home loans, Fannie Mae (NYSE: FNM) and Freddie Mac (NYSE: FRE), have entered into cooperation agreements requiring them to only buy loans from banks that meet new standards designed to ensure independent and reliable appraisals.    » read more »

February 13, 2008 -- TALLAHASSEE, FL – Florida Attorney General Bill McCollum today announced that a Hillsborough County woman pleaded guilty to criminal charges of racketeering and conspiracy to commit racketeering. Adrienne L. White was involved in a multi-million dollar mortgage fraud scam that stretched across the state and involved one of the nation’s largest sub-prime mortgage companies.    » read more »

Darrell and Kandace Marriott, Karen Hayes charged with first-degree felonies

February 7, 2008 -- CORSICANA – A Navarro County, Texas grand jury today indicted three defendants for engaging in an organized mortgage fraud scheme. According to prosecutors, the four-county criminal conspiracy, which involved loans backed by the U.S. Department of Housing and Urban Development (HUD), cost the agency more than $3 million.    » read more »

New Consumer Protections Include Prison for Mortgage Fraud Offenders

January 14, 2008 -- JEFFERSON CITY - Under a new plan announced today by Missouri Governor Matt Blunt, those who commit mortgage fraud against Missouri homebuyers could soon be living in a new home themselves: prison.

Gov. Blunt announced new proposals to protect Missouri homeowners and strengthen the penalties against those who commit mortgage fraud. He also established a new free hotline for Missourians to report fraud and access information to protect themselves against foreclosure.    » read more »

Broward County man violated terms of criminal probation with new mortgage fraud scheme

December 17, 2007 -- TALLAHASSEE, FL - Florida Attorney General Bill McCollum today announced that a Broward County man was sentenced to 25 years in prison after he violated terms of his criminal probation by committing mortgage fraud. Nicholas Dimonda was originally prosecuted more than 10 years ago for orchestrating a mortgage fraud scheme that defrauded banks, private investors, homeowners and a nationwide title insurance company out of more than $1 million.    » read more »

Clients of Abell Mediation, Inc. urged to call their lenders immediately

December 14, 2007 -- CORPUS CHRISTI – Texas Attorney General Greg Abbott took legal action Thursday against an unlawful Arizona-based foreclosure rescue operation that targeted struggling Texas homeowners.    » read more »

November 16, 2007 -- HARRISBURG - Pennsylvania Attorney General Tom Corbett today announced that the Attorney General's Bureau of Consumer Protection has filed suit against a Pittsburgh area man, along with several of his businesses, accused of orchestrating a multi-million dollar mortgage and real estate scheme in Allegheny, Beaver and Butler counties.    » read more »

Broker acted with air conditioner salesman to defraud more than 20 victims

November 5, 2007 -- TALLAHASSEE, FL – Florida Attorney General Bill McCollum today announced that a Hillsborough County resident pleaded guilty to multiple counts of various types of fraud. Michael Danish was involved in a mortgage fraud scheme that victimized more than 20 individuals who were looking to use home mortgages to purchase air conditioning systems. Danish will be sentenced in December for the case prosecuted by the Attorney General’s Office of Statewide Prosecution.    » read more »

State and DuPage County authorities found evidence of criminal fraud

October 16, 2007 -- CHICAGO – As part of his ongoing efforts to protect homeowners from the impact of fraud on the value of their property and the safety of their neighborhoods, Illinois Governor Rod R.    » read more »