Top 5 cities where safety is not a question

Top 5 cities where safety is not a question

Number one shouldn't be a shocker

Where's Watt?

FHFA scorecard should be marked tardy

Rentership society? Insider trading on Russian sanctions?

What We're Reading: The Good Friday edition

Items Tagged with 'Fraud'


Former CEO allegedly faked toxic mortgages to get TARP bailout

Charges in connection with mortgage fraud
April 3, 2014
“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
March 28, 2014
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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Bank of America close to beating DOJ $850M RMBS fraud suit

Justice Dept. hasn't proven allegations in FIRREA case
March 28, 2014
A U.S. magistrate is recommending dismissal of a federal case against Bank of America for fraud against investors regarding the quality of $850 million in loans bundled into mortgage-backed securities.
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Report: Fannie, Freddie foreclosure inspectors did terrible job

Inspectors turned in manipulated and fraudulent reports
March 25, 2014
A newly released report says that some pre-foreclosure inspections for Fannie Mae and Freddie Mac are the result of manipulated and fraudulent inspection reports. The in-field inspectors, in these select cases, relied on several dodgy methods to skip good, hard work.
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Fraudulent mortgage modifier sentenced to nine years in federal prison

Dangled TARP dollars, then defrauded hundreds of homeowners
March 21, 2014
Isaak Khafizov, 27, was sentenced to nine years in federal prison for operating a fraudulent mortgage modification operation that defrauded hundreds of struggling homeowners out of more than half a million dollars.
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SEC charges Jefferies with failure to control rogue bond traders

Company will pay $25 million minimum
March 12, 2014
Jefferies agrees to pay $25 million to settle the SEC's charges, as well as a parallel action announced today by the U.S. Attorney's Office for the District of Connecticut. And that's just the beginning.
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Federal prison waits for two mortgage mod fraudsters

Bilked thousands of homeowners for millions of dollars
February 21, 2014
Christopher Godfrey and Dennis Fischer taunted victims with messages such as, ‘Congratulations, you’ve been approved!’ and made empty money-back guarantees.
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Former Jefferies trader to face trial by jury

Jesse Litvak charged with defrauding TARP
February 19, 2014
Litvak faces 20 years in prison for allegedly misrepresenting the pricing of mortgage-backed securities. His attorney said his behavior is merely the reflection of the Jefferies sales culture.
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Did Detroit real estate agent long-con Fannie and Freddie?

Defendent pockets thousands of dollars in commissions on alleged frauds
February 6, 2014
A Michigan real estate agent was charged for defrauding Fannie Mae and Freddie Mac out of tens of thousands of dollars and for wrongfully pocketing additional thousands in real estate commissions.
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Mortgage fraudsters are flooding these 10 markets

Where is loan applicant dishonesty increasing the most?
January 24, 2014
Do borrowers need to fib more on loan applications in order to get through the tightened underwriting process? Maybe, Kroll states.
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