Largest Mortgage Scam in American History |
Tuesday, 10 October 2006 |
Mortgage Suit Says âTrust Usâ 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 â perhaps even twice that amount. |
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Sunday, 08 October 2006 |
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. |
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Mortgage Fraud Criminal Investigation |
Saturday, 07 October 2006 |
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. |
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Multimillion-dollar mortgage fraud scheme |
Saturday, 07 October 2006 |
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. |
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Suit claims mortgage fraud in KC |
Saturday, 07 October 2006 |
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. |
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Sunday, 01 October 2006 |
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 â whatever you want to call it â 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. |
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DA prosecuting devilish mortgage fraud |
Monday, 25 September 2006 |
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. |
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Mortgage Fraud and Marijuana |
Monday, 25 September 2006 |
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. |
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Friday, 22 September 2006 |
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. |
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Mortgage Protection Advocacy Group Expands |
Thursday, 21 September 2006 |
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Houston's building boom and mortgage fraud |
Monday, 11 September 2006 |
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. |
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