Grand jury to probe mortgage scheme
U.S. Attorney Susan Brooks has begun a probe into a massive mortgage scheme that has roiled a modest Eastside neighborhood and left more than 100 Indianapolis homes in foreclosure.

DA says mortgage scam made of 'straw'
Alaniz is one of at least 20 people who the Harris County District Attorney's Office says were victimized by a mortgage fraud scam that obtained more than $16 million in bad loans. Two Houston women were arrested Tuesday and their homes and offices were searched in connection with the scam, which involved the sale of at least 41 homes in the Houston area, said Bryan Vaclavik, an investigator with the district attorney's Major Fraud Unit.

Three On Your Side: Betting the House: Mortgage Fraud
The FBI says there is an epidemic of elaborate mortgage fraud schemes occuring across the country, even in Mississippi. A federal crackdown has resulted in numerous indictments and guilty pleas.  Sources tell us some in the real estate industry alleged targeted African-American buyers, and made easy bucks in the red hot market.

Mortgage Suit Says ‘Trust Us’ Led to Fleecing
Using these connections, according to a recent lawsuit, the two women and another relative in Indianapolis perpetrated one of the largest mortgage frauds in American history, victimizing dozens of local residents and, according to sources with knowledge of the accusations, at least $40 million in fraudulent loans — perhaps even twice that amount.

Protect yourself against threat of mortgage theft
First, on Sept. 20, the state House of Representatives passed a package of bills that made mortgage fraud a felony in Michigan and freed up funding for the attorney general to pursue mortgage crimes. The legislation now goes to the state Senate for consideration.

Fifth Third Seeks Criminal Probe On Alleged Mortgage Fraud
Fifth Third Bancorp (FITB) has asked for a criminal investigation after allegations of a conspiracy among some bank employees, appraisers, title companies and others involved in mortgages in affluent suburbs of Detroit. Several employees have been fired or have resigned, The Detroit News said Friday.

Mortgage fraud rocks Fifth Third Bank
A multimillion-dollar mortgage fraud scheme involving pricey homes in Bloomfield Hills and Birmingham has resulted in a half-dozen firings and resignations at Fifth Third Bank, according to court documents.The alleged scheme involved a conspiracy among bank employees, appraisers, title companies, and others.

First Magnus says inflated appraisals have cost it more than $1 million
An Arizona mortgage company has sued six businesses and 28 individuals, alleging they conducted a multimillion-dollar mortgage fraud in the Kansas City area.The 82-page civil lawsuit by First Magnus Financial Corp. detailed a scheme that it said relied on intentionally inflated appraisals, false borrower information, stolen identities of legitimate estate appraisers and false appraiser names.

ABC News: Don't Be Victimized by Predatory Lenders
Predatory Lenders Can Ruin Your Credit Rating and Force You to Overpay for Your Home.  As the housing market sours or softens — whatever you want to call it — some Americans are finding that they overpaid for their homes, and they're struggling to make their monthly mortgage payments. They claim they can rescue you with too-good-to-be-true loans, but those loans turn out to be abusive. If buying a home is the American dream, then predatory lending is the American nightmare.

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.