Housing shouldn’t look at any color but the color of money

Housing shouldn’t look at any color but the color of money

People with bad credit and bad habits should be squeezed out of housing

Who is Nat Hardwick?

Former LandCastle Title CEO owns NASCAR team, rubs elbows with PGA pros

Lawsuit alleges former LandCastle Title CEO embezzled $30 million

Nat Hardwick allegedly used funds for private jets, gambling
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Items Tagged with 'Fraud'

ARTICLES

Freedom Mortgage found guilty of defrauding homeowner

Court rules lender violated New Jersey Consumer Fraud Act
Ben Lane
“These facts then lead to the conclusion that the loan was granted in order to engender fees for the lender and not for the benefit of the borrower,” Bergen County Superior Court Judge Gerald Escala wrote in his decision.
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Morgan Stanley finally pays $275 million for subprime RMBS fraud

SEC charged company with misrepresenting loans
Ben Lane
The SEC had charged Morgan Stanley with misrepresenting the delinquency status of mortgage loans underlying two subprime RMBSs at the height of the financial crisis. They were the last subprime RMBSs that Morgan Stanley sponsored, issued, and underwrote.
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Citi nears resolution on massive mortgage fraud probe

Follows string of high profile settlements
Jacob Gaffney
The Justice Department also has been in talks with Bank of America Corp. to resolve civil probes over its mortgage business. The Citigroup mortgage investigation is among a handful of cases relating to bank conduct ahead of the 2008 financial crisis still pending before the Justice Department.
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Chase’s fraudulent foreclosure: Court finds for plaintiffs

Bank committed fraud in order to show ownership
Ben Lane

A California appeals court upheld a ruling that said a Chase executive created a document that fraudulently represented that a prior assignment had been lost and that Chase owned the plaintiff's mortgage.


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BofA close to beating DOJ $850M RMBS fraud suit

DOJ “may not have evidence to try this as a fraud case”
Ben Lane
In a hearing, U.S. District Judge Max Cogburn said that he may follow the recommendation of U.S. Magistrate Judge David Cayer, who previously recommended that the case should be dismissed in March.
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NY judge: JPMorgan/Bear Stearns committed MBS fraud; dismisses case anyway

Altered due diligence report to make mortgage pool look safer
Ben Lane
New York State Supreme Court Justice Alan Scheinkman’s ruling states that there is evidence to support MBIA’s assertion that Bear Stearns “altered due diligence information (and) intentionally misrepresented existing material facts.”
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Fraudulent mortgage modifier sent to prison for $4 million scam

Joins three co-conspirators in federal prison
Ben Lane
In exchange for up-front fees ranging from $400 to $2,000, Kelly and his colleagues would send their customers a do-it-yourself application package, which was virtually identical to the application that the government provides free of charge.
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SEC charges jailed broker with fraud in real estate scam

Ben Lane

Vitale allegedly told his investors that their funds were “100% protected” when they were not, and he claimed to be a financial expert with a business degree from Notre Dame. In fact, he never attended college after graduating from Notre Dame High School in West Haven, Conn.


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Former CEO allegedly faked toxic mortgages to get TARP bailout

Charges in connection with mortgage fraud
Brena Swanson
“Metaxas allegedly orchestrated a fraudulent scheme to give the appearance that the bank was shoring up its finances by selling problem loans to outside investors,” said Christy Romero, Special Inspector General for the Troubled Asset Relief Program.
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Judge okays RMBS fraud lawsuit against Goldman Sachs

Detroit fire and police pension can sue for fraud
A U.S. federal district judge is giving the go ahead to a class-action lawsuit first filed in 2010 by the Detroit firefighter and police pension fund accusing Goldman Sachs (GS) of fraud in relation to the quality of loans in bundles of mortgage-backed securities.
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