Let Valuation Tech Help Improve Your Collateral Valuation

Join this webinar to learn how technological advancements in valuation provide solutions to help lenders and servicers deliver more comprehensive offerings to their clients.

Talking proptech with FinLedger Director Holden Page

In this episode, Page discusses the hottest topics coming across FinLedger’s news desk. Topics include: the online banking market, what’s happening in the proptech space and recent private market deals.

With a reinvigorated CFPB, what’s next for the NYDFS?

While the CFPB is reinvigorated under the Biden administration, there’s plenty of room for it to retake a leading role and coordinate with the NYDFS.

Does your CRM hurt or help the customer experience?

In real estate, data is king. The more you leverage your own data the better off your agents or loan officers will be because they’ll be able to identify, target and create better customer experiences.

Six indicted in international, multimillion-dollar mortgage fraud scheme

South Florida banker, title company involved in residential scam

Six individuals in Florida and Brazil, including a mortgage banker, were indicted in an international mortgage fraud scheme, according to an indictment unsealed Monday by the U.S. Attorney’s Office for the Southern District of Florida.

The alleged scheme, according to media reports, involved the sale and purchase of residential properties in and around Miami and Palm Beach using fraudulent mortgages.

Authorities charge that the indicted individuals applied for at least $9 million in mortgage loans.

The South Florida Business Journal has the story:

The February indictment names four Miami residents – Raul Enrique Quintana, Evelyn Lara, Luis Enrique Sosa, and Juan Osiel Gonzalez – and two Brazil residents, Maura Quintana and Arnaldo Almeida Prado Neto.

The scheme ran from about October 2004 through May 2007 and involved Chevy Chase Bank, JP Morgan Chase Bank and Washington Mutual Bank, according to the indictment. The Quintana couple and their Maura Quintana's son, Prado, purchased residential properties with mortgage loans they obtained by submitting reportedly fraudulent applications and related documents.

In the indictment, three companies were named: Brickell Financial Corp., of which Raul Quintana was president and director, Title Closing Partners of Brickell LLC, of which Maura Quintana was manager and Lara and Raul Quintana controlled, and Cellular & Wireless Wholesale Corp., of which Luis Sosa was president, secretary and director.

On some loan documents, Maura Quintana and Prado, as borrowers, claimed to be employed by Cellular & Wireless when they were not and Sosa agreed to cover for them when the lenders came calling, according to indictment.

To read the full story, click here.

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