Marion County Mortgage Fraud VIDEO  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. Bogden, United States Attorney for the District of Nevada. Tarl Brandon, 43, and Calvin A. Gribble, 50, were indicted by the Federal Grand Jury on December 1, 2009, and charged with one count of Conspiracy to Commit Mail Fraud, Wire Fraud, and Bank Fraud. Gribble was arrested and appeared on Monday, December 7, 2009, before U.S. Magistrate Judge Lawrence R. Leavitt, and was released pending trial. Brandon surrendered to authorities this morning, and is scheduled for an initial appearance and arraignment at 3:00 p.m. Link to Original Story A Union County builder is the latest person agreeing to plead guilty in the growing “Waxhouse Investigation,” a federal mortgage fraud case that has been more than a year in the making. Jennifer Jackson, an owner and operator of Jackson Custom Homes, was a builder for and member of Mortgage Fraud Cell No. 2, according to court documents filed today. Prosecutors describe her firm as a “small company that built a few custom homes” in Union County. Link To Original Story The days of simply hanging out a shingle and opening up a loan modification business are coming to an end in Florida. As of Jan. 1, individuals or companies providing loan modification services must be licensed by the Florida Office of Financial Regulation (OFR). The law was sparked by hundreds of complaints filed with the state attorney general’s office. Just last week, Florida Attorney General Bill McCollum’s office announced it had filed a lawsuit against three Miami-Dade County companies charging them with taking part in a foreclosure rescue scam. The companies, identified as Kirkland Young LLC, Attorney Aid LLC and ABK Consultants, allegedly charged up-front and back-end fees. Charging such fees is illegal. Link to Original Article A grand jury announced the indictment today of six real estate investors and mortgage brokers in what the state attorney general's office described as an "elaborate mortgage fraud scheme." The Suffolk County grand jury returned indictments accusing three real estate investors, two mortgage brokers, and a former local attorney, according a press release issued by the attorney general. The alleged $12.5 million scheme involved using bogus documents to defraud homeowners and mortgage lenders in real estate transactions involving 26 distressed multi-family homes in Greater Boston. The accused allegedly made $2 million in profits. Original Article Link Diane Kosch had one of the most thankless jobs in the subprime lending craze. Sitting elbow to elbow with colleagues at a conference table in a northern California office building, Kosch's job was to review a huge stack of loans each day at Long Beach Mortgage for problems, including evidence of fraud. She was given 15 minutes per file. However, even when Kosch noticed clues of mortgage fraud - suspicious income, questionable appraisals or missing documents - the loans usually got approved anyway. Senior managers at Long Beach Mortgage, one of the nation's biggest subprime lenders, aggressively pushed loans through. As far as the company was concerned, Kosch's quality-assurance team was just slowing things down. SEC accuses 3 ex-New Century execs of fraud 12/08/2009
By MARCY GORDON The Associated Press Monday, December 7, 2009; 7:26 PM WASHINGTON -- Federal regulators on Monday accused three former top executives of collapsed mortgage lender New Century Financial Corp. of fraud, saying they misled investors and inflated profits as the company's subprime loan business was failing in 2006 Six people from the San Antonio area, including a Somerset reserve police officer, have been indicted in what investigators say was a $1.9 million mortgage-fraud scheme. FBI agents identified ringleaders as real estate broker Darnell Mason and mortgage broker Justin Zhu and said the two recruited “straw” borrowers for homes Mason wanted to acquire throughout San Antonio. CINCINNATI — A Monroe woman was sentenced to 30 months in federal prison for her role in an extensive mortgage fraud scheme that affected 210 residential properties, including 205 in Montgomery County. A Columbus man faces up to 20 years in prison after pleading guilty to a felony count tied to his role in a mortgage fraud scheme. The U.S. Attorney's Office and Internal Revenue Service said Michael McAuley, 40, pleaded guilty Monday to one count of conspiracy to commit money laundering. McAuley, a broker in Columbus, is accused of falsifying loan applications on seven transactions in a scheme officials say ran between November 2005 and December 2006. | ArchivesApril 2010 Breaking News:
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