Mortgage fraud cases keeping DA's office busy
Some Collin County residents have been offered money to buy houses in the past year, but law enforcement officials say much attention should be paid to the devilish details of those deals. A string of recent cases shows the focus of the district attorney's office is on details that amount to mortgage fraud. The trend is clear: No mortgage fraud cases last year. Five convictions this year. And four new cases opened since April.

Mortgage fraud linked to marijuana grow ops
Mortgage broker Danh Van Nguyen has been sentenced to a year in jail for writing 900 bogus mortgages worth more than $2 million over an 18-month period. The penalty was imposed by a Surrey Provincial Court judge earlier this month. It came after Nguyen, a Surrey resident, pleaded guilty in May to six counts of using forged documents to arrange fraudulent mortgages in a scheme authorities said was linked to the illicit marijuana trade. The plot generated $2 million in profits, according to the Financial Institutions Commission (FICOM), the agency that regulates B.C. mortgage brokers and real estate agents.

Local Victims of Alleged Mortgage Fraud
The number of Americans who are finding their homes in foreclosure, is rising at a staggering rate... up 24 percent between July and August of this year alone! Ohio, Indiana, and Kentucky are all among the 25 states with the highest foreclosure rates.  And some of those families may be losing their homes as the result of mortgage fraud. There are two ways that mortgage fraud happens.

Advocacy Group Expands Consumer Mortgage Protection Services For All Homeowners Americas Watchdog, in partnership with it's National Mortgage Complaint Center has increased the services it offers to individual homeowners with problems and or prospective homeowners on the verge of financing a home. Sixty million American homeowners were either over- charged/cheated, or will be taken advantage of when they finance or refinance their home.

Mortgage Fraud Costs Homeowners Millions
In Houston, the craze is catching on with criminals. But investigators do not call it investing. They call it mortgage fraud. The KPRC Local 2 Troubleshooters uncovered a white-collar crime that is cheating Houston homeowners out of millions of dollars. Houston's building boom is good for the economy, bringing in riches for Realtors and happiness for new homeowners. But behind the bricks and lumber is a downside.

Deceptive loan practices banned
The state yesterday shut down seven mortgage brokers in Massachusetts and banned a variety of deceptive lending practices in what regulators called a sweeping crackdown on rogue brokers who steer customers in poor urban neighborhoods to loans they cannot afford.Acting two weeks after the Globe reported a range of abuses by several mortgage brokers in Lawrence, the Division of Banks announced that 50 examiners had since made surprise inspections of 90 brokerage firms in central and eastern Massachusetts.

Nightmare Mortgages
There was plenty more going on behind the scenes they didn't know about, either: that their broker was paid more to sell option ARMs than other mortgages; that their lender is allowed to claim the full monthly payment as revenue on its books even when borrowers choose to pay much less; that the loan's interest rates and up-front fees might not have been set by their bank but rather by a hedge fund; and that they'll soon be confronted with the choice of coughing up higher payments or coughing up their home.

Big profits oil the wheel of loan fraud

AG REILLY OBTAINS TEMPORARY RESTRAINING ORDERS AGAINST INDIVIDUALS, BUSINESSES INVOLVED IN MORTGAGE FRAUD AND FORECLOSURE RESCUE SCHEMES
Attorney General Tom Reilly has obtained three emergency orders to stop unfair and deceptive practices by individuals and businesses allegedly involved with mortgage fraud and foreclosure rescue schemes targeted at home owners.

Woman with fraud conviction hired by Better Business Bureau
A woman involved in a $1.4 million mortgage fraud scheme was hired by the Spokane Better Business Bureau while appealing her conviction and federal prison sentence...You've got to be kidding. Is this a joke?" said Assistant U.S. Attorney George Jacobs when told that Gibson was working for the bureau.