TRID is a real obstacle to mortgage process

Fed adopts new rule limiting 'too big to fail' bailouts

New emergency lending policy targets 'broad-based' issues, not specific firms

FHFA announces 2016 conforming loan limits

Much of U.S. left unchanged; limits increase in 39 ‘high-cost’ counties

Items Tagged with 'Fraud'


Massachusetts real estate attorney convicted for mortgage fraud conspiracy

Involved numerous bogus short sales
A Massachusetts real estate attorney pleaded guilty last week to charges stemming from a wide-ranging scheme to defraud banks and mortgage companies as part of a conspiracy involving numerous sham short sales. In some cases, the purported third-party buyers were actually the spouses, parents or children of the purported sellers.
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Exec at center of first TARP bank failure gets 8 years in prison

Fraud scheme cost taxpayers more than $300 million
The bank executive at the center of one of the largest bank failures in recent years will spend the next 8 years in prison for his part in a scheme that cost the American taxpayers more than $300 million. Here's the tale of Ebrahim Shabudin and United Commercial Bank.
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Mortgage application defects keep rising

Michigan, Florida, Texas lead First American application defect index
Defects found on mortgage loan applications is on the rise and have been throughout 2015, according to a new report from First American Financial. Which states and markets are the biggest risks of application fraud? Click here to find out.
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SIGTARP snares seven schemers for massive mortgage fraud

Charges include mail fraud, bank fraud, aiding and abetting
Seven California residents now face federal charges for their roles in an alleged mortgage fraud scheme that defrauded lenders of more than $3 million. According to court documents, the defendants conspired to defraud mortgage lending companies and financial institutions by making false statements on loan applications and short-sale applications.
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