Posts tagged as:

mortgage-fraud

Commentary

The Dramatic Increase In Mortgage Fraud: SubPrime Crisis Brings Out The Worst In People; Would The Death Penalty Stop It?

by Charles Feldman | September 23, 2009

WASHINGTON - SEPTEMBER 16: Federal Bureau of ...If you harbored any notion that the current economic crisis would somehow bring out the best in people–as we all come together like one of those old, warm and fuzzy “I’d like to buy the world a Coke” commercials, I’m afraid I have some very bad news for you. Well, actually, the FBI has the bad news, but I will pass it along.

A few days ago, FBI director Robert Mueller told the Senate Judiciary Committee that mortgage fraud cases that are being investigated by his agency are up roughly 63% just from a year ago! That’s sixty-three percent!!!!!

“The scheme have evolved with the changing economy, targeting vulnerable individuals, victimizing them even as they are about to lose their homes, ” said Mueller, as quoted in a New York Daily News article.

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Real Estate News

Another Day, Another Real Estate Scammer Busted: $20M Scam Shut Down!

by Joshua Dorkin | February 4, 2009

It seems that you don’t have to look too far to find someone trying to scam the innocent these days. From Madoff on down, it feels like there is a white collar crook around every corner. The good news is that many of these people are getting busted . . . unfortunately, by [...]

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Economy

More Mortgage Fraud? FBI Investigates Bailout Firms: CNN

by Charles Feldman | September 24, 2008

In a move that should surprise no one, the FBI, says CNN, has opened an investigation into Fannie Mae, Freddie Mac, Lehman Brothers Holdings Inc., and American International Group, the four companies now at the very heart of the proposed $700 billion dollar theft–I mean taxpayer bailout–plan being pushed by Bush and gang in Washington.
This [...]

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Commentary

Creating a Mortgage Fraud Law with Some Bite – A Thought Experiment

by Joshua Dorkin | May 4, 2008

I was just reading an article about how Mortgage Fraud is now a specific crime in Missouri, but couldn’t help but think to myself whether or not this law goes far enough. While I haven’t read the law itself, a $2,500 fine and/or jail is just not going to cut it. The loans [...]

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Commentary

California "Mortgage Fraud Scam" May Be Tip Of The Iceberg, Says State Attorney General Jerry Brown

by Charles Feldman | March 19, 2008

First came the subprime mortgage crisis; now comes the cases of alleged fraud.
An amazing story Tuesday out of Southern California where the state attorney general has busted an alleged mortgage scam that may have bilked thousands of SOCAL homeowners out of millions of dollars.
And, California Attorney General Jerry Brown told me, in some cases, signatures [...]

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Commentary

Real Estate Agent Steals $3 million and Keeps Her Real Estate License

by Joshua Dorkin | January 23, 2007

Last week we talked about the emergence of the selfless real estate agent. Today, we’re going to look at a piece of dirt who makes the rest of the agents out there look bad.

A real estate broker in Shakopee, Minnesota was charged with with 15 felony counts of identity theft; in addition, she [...]

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