Loan Modification

Baltimore Bank VP Pleads Guilty to Bank Fraud

Posted on December 29, 2009
Bank fraud is the use of fraudulent means to obtain money, assets, or other property owned or held by a financial institution through skillful ingenuity, as opposed to bank robbery or theft. Andrew Rosenfeld, age 39, of Ellicott City, Maryland, pleaded guilty today to conspiracy to commit bank fraud...

Madoff Wanna-bees, Sentenced in Manhatten

Posted on December 28, 2009
Ivy Woolf-Turk, 52-year old real estate developer from Port Washington, New York was sentenced to a five-year prison term and forfeiture of the $27 million representing the fruits of her fraud conspiracy. Acting United States Attorney for the Southern District of New York, Lev Dassin, announced on February 25 of this year that Woolf-Turk, [...

Disbarred Lawyer, Real Estate Investor Convicted of Massive Fraud Schemes

Posted on December 27, 2009
Disbarred Lawyer, Real Estate Investor Convicted of Massive Fraud Schemes NORFOLK, VA?Troy A. Titus, 43, of Virginia Beach, Virginia, was convicted by a Norfolk federal jury today of operating multiple fraud schemes to steal and misappropriate more than $7 million from clients and investors...

MTSU Professor Sentenced to 12 Months and a Day for Mortgage Fraud Scheme

Posted on December 27, 2009
MTSU Professor Sentenced to 12 Months and a Day for Mortgage Fraud Scheme NASHVILLE, TN?Edward M. Yarbrough, United States Attorney for the Middle District of Tennessee, and My Harrison, Special Agent in Charge, Memphis Division, Federal Bureau of Investigation, announced that, on November 13, 2009, U...

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Five Indicted in Foreclosure Rescue and Mortgage Fraud Scheme

Posted on December 27, 2009
Five Indicted in Foreclosure Rescue and Mortgage Fraud Scheme Scam Involved Lawyers, Mortgage Brokers, and More Than $14.6 Million in Loans PHILADELPHIA?A 15-count indictment was filed today against five defendants charged in a $14.6 million mortgage fraud scheme that resulted in at least 35 fraudulent mortgage loans, announced United States Attorney Michael L...

Federal Grand Jury Indicts Portland Mortgage Broker

Posted on December 27, 2009
Federal Grand Jury Indicts Portland Mortgage Broker PORTLAND, OR?A Federal Grand Jury has indicted a Portland mortgage broker for bank fraud related to the sale of his parent?s home in 2006. Alex Z. Biscocho, 42, of Portland, is accused of devising a scheme to defraud First Franklin Financial Corporation during the time he was a mortgage [...

Grand Jury Indicts Mortgage Loan Officer, Former Local Radio Host, Family Member in Mortgage Fraud Scheme

Posted on December 27, 2009
Grand Jury Indicts Mortgage Loan Officer, Former Local Radio Host, Family Member in Mortgage Fraud Scheme Three Men Allegedly Obtained More Than $4.5 Million in Fraudulent Mortgage Loans DAYTON?A federal grand jury here has indicted James L. Mack, 64, a former loan officer at the Centerville branch of Republic Bank, Walter A...

Georgia Man and California Man Criminally Charged with Interstate Investment Fraud Scheme

Posted on December 27, 2009
Georgia Man and California Man Criminally Charged with Interstate Investment Fraud Scheme RALEIGH?United States Attorney George E.B. Holding announced today a six-count Indictment charging GREGORY BARTKO, 56, of Berkeley Lake, Georgia, and DARRYL LYNN LAWS, 58, of La Jolla, California, with a criminal investment fraud scheme...

Manhattan U.S. Attorney Charges Company Executive with Multimillion-Dollar Bank Fraud

Posted on December 27, 2009
Manhattan U.S. Attorney Charges Company Executive with Multimillion-Dollar Bank Fraud PREET BHARARA, the United States Attorney for the Southern District of New York, and JOSEPH M. DEMAREST, JR., the Assistant Director-in-Charge of the New York Office of the Federal Bureau of Investigation (”FBI”), announced the unsealing of an Indictment today charging BILL SURI, a/k/a “David Miller,” [...

Six Individuals Charged in Multi-Million Dollar Mortgage Scheme Against Flaherty Funding

Posted on December 27, 2009
Six Individuals Charged in Multi-Million Dollar Mortgage Scheme Against Flaherty Funding ROCHESTER, NY?U.S. Attorney Kathleen M. Mehltretter of the Western District of New York announced that six individuals located in the New York City area were charged yesterday in a criminal complaint with defrauding Flaherty Funding, a mortgage company located at 2595 Brighton Henrietta Town [...

Former Real Estate Investment Company Owner Pleads Guilty to Laundering Proceeds of Mortgage Fraud

Posted on December 27, 2009
Former Real Estate Investment Company Owner Pleads Guilty to Laundering Proceeds of Mortgage Fraud ALBANY, NY?Andrew T. Baxter, United States Attorney, Patricia J. Haynes, Special Agent in Charge, Internal Revenue Service, Criminal Investigation Division (New York Field Office), John F...

Former Las Vegas Resident Charged with Committing Mortgage Fraud in Nevada

Posted on December 27, 2009
Former Las Vegas Resident Charged with Committing Mortgage Fraud in Nevada LAS VEGAS?A former Las Vegas resident has been charged with federal conspiracy and fraud charges for his involvement in a Nevada mortgage fraud scheme involving straw buyers and falsified mortgage loan documents, announced Daniel G...

Federal Mortgage Fraud Charges Filed Against Two Las Vegas Men

Posted on December 27, 2009
Federal Mortgage Fraud Charges Filed Against Two Las Vegas Men LAS VEGAS?Two Las Vegas men have been charged with conspiracy and fraud charges for devising and implementing a mortgage fraud scheme involving straw buyers and falsified mortgage loan documents, announced Daniel G...

Missouri Man Sentenced to Nine Years in Major Mortgage Fraud Scheme

Posted on December 27, 2009
Missouri Man Sentenced to Nine Years in Major Mortgage Fraud Scheme CAPE GIRARDEAU, MO?Robert P. Wrolstad, of O?Fallon was sentenced on a mortgage fraud scheme involving the sale of residential real estate located in Sikeston, MO, Acting United States Attorney Michael W...

Owner of USA Properties, LLC Sentenced on Mortgage Fraud Charges

Posted on December 27, 2009
Owner of USA Properties, LLC Sentenced on Mortgage Fraud Charges ST. LOUIS, MO?William E. McKanry was sentenced to 27 months in prison on multiple conspiracy and fraud charges involving the multi-million dollar sale of 12 local properties, Acting United States Attorney Michael W...

Owners of Guaranty Title Indicted for $2.6 Million Bank Fraud, Wire Fraud, Money Laundering Conspiracies

Posted on December 27, 2009
Owners of Guaranty Title Indicted for $2.6 Million Bank Fraud, Wire Fraud, Money Laundering Conspiracies SPRINGFIELD, MO?Matt J. Whitworth, United States Attorney for the Western District of Missouri, announced today that the owners of Guaranty Title, formerly headquartered in Nixa, Mo...

Seven Northland Residents Indicted in Parkville Mortgage Fraud Scheme

Posted on December 27, 2009
Seven Northland Residents Indicted in Parkville Mortgage Fraud Scheme KANSAS CITY, MO?Matt J. Whitworth, United States Attorney for the Western District of Missouri, announced today that seven Kansas City, Mo., residents have been indicted by a federal grand jury for their roles in a mortgage fraud scheme that involved the purchase of a $605,000 house in [...

Former Madison County Real Estate Investor Charged in Mortgage Fraud Scheme

Posted on December 27, 2009
Former Madison County Real Estate Investor Charged in Mortgage Fraud Scheme JACKSON, MS?United States Attorney Stan Harris, Federal Bureau of Investigation Acting Special Agent in Charge Stephen F. Gomez, Federal Deposit Insurance Corporation - Office of Inspector General Special Agent in Charge Thomas C...

Two Defendants Indicted for Price-Flipping 35 Homes in Mortgage Fraud Scheme

Posted on December 27, 2009
Two Defendants Indicted for Price-Flipping 35 Homes in Mortgage Fraud Scheme A federal indictment was unsealed today against a Minnesota pair for allegedly orchestrating a mortgage fraud scheme in which they stole more than $2.5 million from lenders nationally by obtaining fraudulent loans for the purchase of 35 homes in the Twin Cities...

Mortgage Broker Sentenced to 20 Months in Prison for 16-Property, $1.9 Million Mortgage Fraud Scheme

Posted on December 27, 2009
Mortgage Broker Sentenced to 20 Months in Prison for 16-Property, $1.9 Million Mortgage Fraud Scheme A Dearborn mortgage broker was sentenced to 20 months? imprisonment in connection with a multi-million dollar mortgage fraud scheme, United States Attorney Terrence Berg announced today...

Randolph Woman Pleads Guilty in Mortgage Fraud Scheme

Posted on December 27, 2009
Randolph Woman Pleads Guilty in Mortgage Fraud Scheme BOSTON, MA?A former Bank of America employee was convicted of wire fraud today in federal court for creating false documents to secure approval of mortgage loan applications. United States Attorney Carmen M...

CEO of Metropolitan Money Store Sentenced to Over 11 Years in Prison and Two Other Conspirators Sentenced in $37 Million Mortgage Fraud Scheme

Posted on December 27, 2009
CEO of Metropolitan Money Store Sentenced to Over 11 Years in Prison and Two Other Conspirators Sentenced in $37 Million Mortgage Fraud Scheme GREENBELT, MD?U.S. District Judge Roger W. Titus sentenced Jennifer McCall, age 48, the Chief Executive Officer of the Metropolitan Money Store, of Fort Washington, Maryland, to 135 months in prison, followed by [...

Multi-government taskforce indicts New York appraisal company owner

Posted on December 17, 2009
MICHAEL CASSADEI, age 53, of Schenectady and Galway, New York, was arrested December 14, 2002 following the unsealing of a five-count indictment by a federal grand jury in Albany.  The arraignment took place also today on the charges before United States Magistrate Judge David R...

Multi-government Taskforce Indicts New York Appraisal Company Owner

Posted on December 16, 2009
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Conspiracy to commit fraud against a financial institution.

Posted on December 15, 2009
The Federal Bank Fraud Statute, 18 U.S.C. 1344, generally provides that whoever knowingly executes, or attempts to execute, a scheme or artifice to defraud a financial institution or to obtain any of the moneys, funds, credits, assets, securities, or other property owned by, or under the custody or control of, a financial institution, by means [...

Grosse Ile Woman Arrested and Charged with Real Estate Ponzi Scheme

Posted on December 14, 2009
Rita Gosselin, 58, was arrested and charged with one count of continuing criminal enterprise (racketeering) at her Grosse Ile house early Thursday morning by investigators from the Michigan Attorney General?s Office and the Southgate Police Department...

33% of Home Loans Under Water

Posted on November 30, 2009
Just When You Thought it was Safe to go into the Water This is not a follow-up story about hurricane Katrina. One out every three home owners today in America is drowning.  According to Mark Fleming, chief economist for First American CoreLogic, more than 15...

Michigan?s Version of a Bernie Mardoff Ponzi Scheme

Posted on November 25, 2009
A magician?s greatest tool is the ability to convince his audiences that what they are looking at is something other than what?s in front of their eyes.  BBC Equities This magical definition is what I?ll use to describe what happened to 440 investors of a Southfield company called BBC Equities...

Seven Charged in Mortgage Fraud Bust

Posted on June 16, 2009
Michigan Attorney General Mike Cox today announced that his office has filed charges against seven individuals at the forefront of a major mortgage fraud operation in Southeast Michigan.  The charges resulted from a year-long investigation by the Michigan Mortgage Fraud Task Force and included efforts from the Michigan State Police, U...

U.S. Senate Passes Mortgage Fraud Enforcement Legislation

Posted on April 28, 2009
A federal bill to improve enforcement of mortgage fraud, securities fraud, financial institution fraud, and other frauds related to federal assistance and relief programs, has been passed by the United States Senate by a majority of 84-4. Senate Bill 386 (S...

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