Items Tagged with 'Mortgage fraud'

ARTICLES

  • CoreLogic: Mortgage fraud risk falls sharply in Q2

    But 3 of the 10 most at-risk metros saw an uptick in fraud
    The risk of mortgage application fraud fell in the second quarter of 2019 thanks to a decrease in interest rates. According to CoreLogic’s National Mortgage Application Fraud Risk Index, fraud risks on mortgage applications decreased by 11.4% year over year last quarter.
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  • Paul Manafort pleads not guilty to mortgage fraud charges

    Trump's former campaign chairman arraigned in New York court
    President Donald Trump’s former campaign chairman Paul Manafort pleaded not guilty to mortgage fraud charges in a New York City courtroom Thursday. If found guilty, the state’s charges could keep him in prison even if the president pardons him for the federal crimes for which he is currently serving time.
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  • Top U.S. landlord charged with running Ponzi scheme in massive multifamily mortgage fraud probe

    DOJ and SEC file multiple charges against Robert Morgan for multimillion-dollar scam
    Robert Morgan, one of the largest landlords in the country, was hit with multiple charges this week by both the DOJ and the SEC for allegedly running a Ponzi-type scheme that involves shuffling around money from investors and falsifying loan documents. The charges are the culmination of a cross-agency investigation into a massive multifamily mortgage fraud scheme that raises serious questions about GSE regulations for multifamily financing.
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  • Federal Savings Bank CEO indicted for approving Manafort mortgages in attempt to land top job in Trump administration

    Stephen Calk accused scheming with Paul Manafort in quid-pro-quo deal
    Stephen Calk, the CEO and founder of the Federal Savings Bank of Chicago, was indicted Thursday for approving $16 million in mortgage loans for Paul Manafort in exchange for the former Trump campaign chairman’s help in landing a senior post with the administration. The move was unsuccessful, in more ways than one. Click the headline for the full story.
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  • Is Manafort-style mortgage fraud more common than we think?

    Mortgage fraud is on the rise as more consumers use false claims to jump hurdles to homeownership
    Last week, Paul Manafort was slapped with charges by New York for a multimillion-dollar mortgage fraud scheme, accused of inflating his company's income and failing to disclose his debts in to secure $20 million in loans. Manafort's drama may be extreme, but in the current climate, where home prices are cooling off and the refi market is a fraction of what it used to be, are we likely to see more cases of mortgage fraud emerging?
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  • New York man admits to playing key role in massive multifamily real estate scandal

    Scam defrauded M&T Bank, Berkadia Commercial Mortgage, others
    A New York man has admitted to taking part in a massive multifamily real estate scandal that harkens back to some of the darkest parts of the housing crisis, including fake residents, fake incomes, and inflated mortgages. The charges stem from an investigation that the Wall Street Journal previously called “one of the biggest mortgage-fraud probes since the financial crisis.”
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  • Paul Manafort charged with mortgage fraud in New York minutes after federal sentencing

    If convicted, a presidential pardon won't do any good
    It was a tough day for Paul Manafort. On Wednesday, the former campaign chairman for President Donald Trump was sentenced to an additional 3.5 years in prison on conspiracy charges brought by Special Counsel Robert Mueller. Then, less than an hour later, Manafort was charged by a New York state court for his involvement in a multimillion-dollar mortgage fraud scheme.
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