Items Tagged with 'Fraud'


  • CoreLogic: Mortgage fraud risk spiked in the second quarter

    There was a 12.4% year-over-year increase in fraud risk in Q2
    There was a significant increase in mortgage fraud risk at the end of the second quarter of 2018, according to Corelogic’s latest Mortgage Application Fraud Risk Index. CoreLogic’s Principal of Fraud Solutions Strategy Bridget Berg said this year’s trend continues to show an increase in mortgage fraud risk year-over-year.
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  • Real estate agent sentenced to 6+ years for wire fraud, money laundering

    Robert Jacobsen sold homes with unpaid mortgages on them to unsuspecting buyers
    A California real estate agent who sold homes with unpaid mortgages on them to unsuspecting homebuyers was recently sentenced to more than six years in prison and three years of supervised release after pleading guilty to one count of wire fraud and one count of money laundering.  
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  • Law firm levies lawsuit at Tower Hill Insurance for fraud in Hurricane Irma claims

    Hurricane Litigation Group files lawsuit against Tower Hill Insurance, alleging fraud against hurricane victims
    Hurricane Litigation Group has filed a lawsuit against Tower Hill Insurance claiming that the insurance company, along with its associates, have defrauded victims of Hurricane Irma of insurance claims money. The suit alleges that Tower Hill conspired with Ladder Now and Humble to underpay or deny compensation to victims of the storm.
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  • $10 million mortgage scheme ends in arrest

    Fraud targeted California homeowners facing foreclosure
    Zalathiel Aguila thought preying on struggling homeowners was a good way to make some extra cash, but the Vallejo, California, man is now facing 30 years of hard time behind bars. His company, Capital Access, allegedly defrauded financially insured institutions out of $10 million.
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  • ARMCO goes toe-to-toe with fraud

    Launches fraud investigation technology
    Although there may be no immediate resolution for fraud in the housing industry, some companies are putting forth an effort to reduce the risk of deception. Amongst these companies includes ARMCO, who recently announced the launch of its Fraud Case Manager, the industry’s "first” fraud investigation technology.
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  • These mortgage companies allegedly scammed homeowners out of $280,000

    Pennsylvania Attorney General's office takes them to court
    Five mortgage foreclosure companies and their owners are being sued by the Pennsylvania Attorney General’s Office, according to an article written by Christian Hetrick for The Philadelphia Inquirer. Unsuspecting homebuyers were instructed to refrain from making payments or contacting their mortgage lenders, others reportedly lost their homes or filed for bankruptcy.
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  • Real estate entrepreneur sentenced 20 years for fraud

    Ordered to pay investors $189,000 in restitution fees
    Everett Craig Williams, a real estate entrepreneur, is spending 20 years behind bars for swindling thousands of dollars from investors, according to an article written by L.M Sixel at the Houston Chronicle. Williams used investor money to finance his personal expenses.
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  • Trump administration doubles down against crypto fraud

    New task force led by CFPB, other government regulators
    The future of bitcoin and other cryptocurrencies is far from certain, but that hasn’t stopped people from investing in it or even using it to make major real estate purchases. But as cryptocurrencies grow, so does the potential for fraud. Now, President Donald Trump is setting up a new task force to combat crypto crime.
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  • Puerto Rican mayor arrested for misuse of HUD funds

    Mayor and 2 others accused of defrauding government of $8 million
    A Puerto Rican mayor and two former government officials are accused of misusing funds from HUD and other government agencies. The three officials were recently arrested on corruption charges that involved $8 million in federal and local funds.
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