Items Tagged with 'Mortgage fraud investigation'

ARTICLES

  • Inside the scandal that could explode multifamily real estate

    WSJ reports on massive multifamily mortgage fraud investigation
    Everything is going swimmingly in multifamily real estate these days, right? Rents keep rising, construction is still chugging along, deals are being made, and delinquencies are still at historic lows. So everything’s good, right? Maybe not. It appears there could a deep, dark secret at the core of multifamily lending. Fake residents, fake incomes, and inflated mortgages. Sound familiar?
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  • Ireland extradites fugitive to U.S. to face raft of mortgage fraud charges

    Country’s first extradition to the U.S. since 2012
    On Friday, Patrick Lee, a 44-year-old man with dual U.S. and Irish citizenship was arraigned in federal court in Boston on more than 50 charges relating to a mortgage fraud scheme that he allegedly perpetrated in the run-up to the housing crisis. Lee was arraigned last week after being extradited from Ireland. It was Ireland’s first extradition to the United States since 2012.
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  • Ringleader of elaborate mortgage fraud scheme gets 10 years in prison

    Scheme involved fake sellers, fake lawyers, fake title agents, fake notaries, and more
    The alleged ringleader of a complex mortgage fraud scheme will spend the next 10 years in New Jersey state prison for his involvement in a scheme that involved using fake sellers, fake attorneys, fake title insurance agents, fake notaries, and a number of fake businesses to steal nearly $1 million from mortgage lenders in a series of transactions.
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  • FTC permanently bans more mortgage relief scammers

    More punishment from sweeping mortgage modification fraud investigation
    For the second time this month, the Federal Trade Commission announced that one of the subjects of a sweeping enforcement action from 2014 is permanently banned from operating in the mortgage loan modification and debt relief business.
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  • FTC permanently bans brazen mortgage modification scammers

    Companies impersonated law firms, fined more than $20 million
    A series of “law firms” and the individuals who did business on their behalf are now banned from operating in the mortgage business, after the Federal Trade Commission found that the companies were falsely promising financially distressed homeowners they would receive legal representation to prevent foreclosure or lower their mortgage payments and interest rates.
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