Defendant Bryan Orr, 34, was the ringleader of the elaborate scheme involving a network of co-conspirators. In one scam, a straw buyer would purchase and finance a new vehicle. Thereafter, the auto loan would be paid in full by other co-conspirators. Once the title to the vehicle was sent to the purchaser, the vehicle would be immediately re-sold.
Contents Village mobile home park awarded fraud defense attorneys Multiple indictments charging Real estate appraisers The flipping fraud phenomenon that consumed Southwest Florida for more than a decade is about to come to a symbolic end. Herald-Tribune Ticket Arts Preps Real Estate Mugshots Politics Health Inside.
McConville was indicted in May for mail and wire fraud after an I-Team investigation revealed his role in a statewide real estate scheme. prices to straw buyers who defaulted, leaving banks and.
CAMDEN – Ten New Jersey residents face federal charges in a $40 million mortgage fraud that used phony documents and "straw buyers. in a 46-page indictment handed down earlier this week in Camden,
· The total actual loss to insurance companies in the scheme was $434,938, while the total intended loss was almost $1.2 million. According to the indictment, Stamps bought houses costing from $6,500 to $15,000, using Randy Stamps and Smith as straw owners for three of the houses.
All four defendants were accused of being straw buyers in the HOA takeover scheme, which ocurred between 2003. left to stand trial in October on conspiracy and fraud charges. In court Thursday, the.
CFPB names another acting deputy director Freddie Mac unveils new security to provide affordable housing liquidity for small lenders freddie mac makes homeownership and rental housing more accessible and affordable. Operating in the secondary mortgage market, we keep mortgage capital flowing by purchasing mortgage loans from lenders so they in turn can provide more loans to qualified borrowers.Passed in 2010, the Dodd-Frank Act established the CFPB and called on the bureau’s deputy director to serve as acting director between Senate-confirmed chiefs.
· Federal prosecutors announced charges on Thursday against 41 lenders, lawyers and others in the real estate industry who they said used fraud to obtain more than $64 million in loans connected to more than 100 residential properties in New York State.
Mortgage fraud schemes hinge on a “straw buyer” who applies for a home loan. Schemes uncovered in several states by federal authorities have shown that the straw buyer is sometimes a co-conspirator who provides personal information – most of it falsified – for loan documents.
Mortgage loan applications containing false information pertaining to the income and assets of the straw buyers were submitted to Fifth Third, by Hance, for approval. The total amount of fraud attributable to Hance is estimated at over $8 million.
Delays push foreclosures to 40-month low in April Foreclosure cancellations in California climbed 40% in November, according to a monthly report from ForeclosureRadar.com, which tracks foreclosures in California. Analysts adjusted the numbers to.Home prices in Santa Clara County shoot up How long will this mortgage drought last? Ocwen enters massive MSR agreement with onewest bank nevada has the most underwater homeowners Nevada Ranked #1 For Underwater Mortgages in 2015 – Las Vegas, Nevada – Earlier this week, the Las Vegas Review Journal released an article announcing that Nevada once again leads the nation with the most underwater homes. In fact, The las vegas valley ranked No. 1 among big U.S. metro areas for its share of homes with mortgages that were significantly underwater at the end of 2015.Update: IndyMac/OneWest hamp class action lawsuit | Abbey. – In our July 2011 blog post, we reported about Judge William J. Hibbler’s decision to deny indymac mortgage servicers, FSB’s (a division of OneWest Bank, FSB) motion to dismiss a class action lawsuit related to its failure to comply with guidelines established by the Home Affordable Modification Program ("HAMP").Fannie Mae completes third non-performing loan sale Fannie & Freddie Better Together?; Plenty of Investor. – Fannie & Freddie Better Together?;. or Fannie – most say because F&F deserve their own reform bill and that will happen in 2011 after the US Treasury completes its study . Fannie was created in.Here’s How Long It Will Take to Get a Mortgage Here’s How Long It Will Take to Get a Mortgage. By Paula Pant / trulia october 20, 2014 You’re scrolling the online listings, looking for houses, when – boom – the love of your real estate life pops out from the page. You’ve found the.Spare the air alert issued as poor air quality persists – 30 p.m., Santa Clara County Sheriff’s deputies were searching the area. In a press release on Tuesday, the sheriff said that.
· A Park Ridge man was one of 11 people indicted in a mortgage fraud scheme that used bogus information to obtain 52 residential mortgages worth $14.5 million.