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Mortgage Fraud News

Mortgage Fraud - Google News

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3 Orange County residents get prison time for $11 million mortgage-modification fraud
Three Orange County residents were sentenced this week to federal prison for their roles in a multi-million-dollar home-mortgage-modification scam that targeted vulnerable homeowners nationwide. Sammy Araya, a 41-year-old Santa Ana resident who ...

Posted: July 21, 2017, 10:16 pm

Builder Magazine

Three Get Jail Time for Role in Massive Mortgage Modification Scheme
Builder Magazine
After being convicted for their roles in a nationwide, multi-year mortgage modification fraud scheme that conned thousands of distressed borrowers out of at least $11 million, three California residents were sentenced to lengthy prison stays, reports ...

Posted: July 21, 2017, 12:47 pm

Former Lafayette Real Estate Agent Pleads Guilty In Fraud Case
Robert Jacobsen, 69, pleaded guilty to one count of wire fraud and one count of money laundering in connection with a plan to use what prosecutors called "sham companies" and lawsuits to make it look, falsely, as if large mortgage liens connected to ...

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Posted: July 21, 2017, 12:24 am

Fraud, scams and other white collar crime
Catholic Star Herald
Vespe, who holds a master's degree in criminal law from Saint Joseph University, Philadelphia, discussed workers comp scams, insurance scams, mortgage fraud and time share fraud. He has worked as a corporate fraud adviser and consultant for several ...

Posted: July 20, 2017, 3:13 pm

Mortgage Fraud: ASIC gets tough on brokers
Lexology (registration)
ASIC is responding to the high level of loan application fraud originating from mortgage brokers. It's announced a significant project designed to develop industry-based and best practice solutions to prevent loan fraud, particularly in respect of the ...

Posted: July 20, 2017, 11:53 am


Brazen leader of massive mortgage modification scheme gets 20 years
Three California residents will spend a combined 39 years in prison after being convicted for their roles in a nationwide, multi-year mortgage modification fraud scheme that scammed thousands of distressed borrowers out of at least $11 million ...

Posted: July 19, 2017, 10:37 pm

Postal Service Uses Reverse Mortgage 'Scam' for Good
Reverse Mortgage Daily
The victim's family got wind of the scam in 2015 and alerted authorities, prompting the United States Postal Service to set a reverse-mortgage trap. The woman had allegedly told Barnes that she was interested in tapping into more than $157,000 in Home ...

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Posted: July 19, 2017, 6:29 pm

Mississauga homeowner says she's stuck with $640K bill in mortgage fraud
A Mississauga woman says she fell victim to a mortgage fraud and is stuck with a $640,000 bank lien on her home. “I thought I was going to have a heart attack, I was a basket case,” said Lukrezia Buzanic, recalling the day she opened her mailbox to ...

Posted: July 19, 2017, 1:33 am

Former Calgary mortgage broker found guilty on 23 counts of fraud and theft
Brandon Antonini, 45, has been found guilty on 13 counts of fraud and 10 counts of theft in a multi-million-dollar case in which investors were duped into providing bridge financing for real estate deals. Provincial court judge Gordon Wong said Friday ...

Posted: July 14, 2017, 11:04 pm

Attorney sentenced in long-running mortgage fraud scam (subscription)
Attorney Bradford Barneys admitted he had put a stain on the legal profession as he was sentenced Thursday to 30 months in prison for conspiring with convicted con artist Timothy Burke to defraud distressed homeowners in a long-running scam.

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Posted: July 13, 2017, 11:21 pm