Mortgage Fraud Still Rampant – Forbes
If President Obama is serious about forming a new unit to prosecute financial and mortgage crimes, the first place he should look is at operators who are fleecing desperate homeowners. Scams that target these down-on-their-luck folks are rampant.
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More Mortgage Stuff:
Freddie Mac has named Ross Kari as its new chief financial officer. Kari joins the government-controlled mortgage finance company from Fifth Third Bancorp, where he had been CFO. Freddie Mac has named Ross Kari as its new chief financial officer … Go to Source…
BusinessWire – Fitch Ratings has downgraded five classes of notes issued by Fort Point CDO I, Ltd.(Fort Point). These rating actions are the result of severe credit deterioration among 2004, 2005, and 2006 vintage residential mortgage-backed … Go to Source…
Years have passed since the housing crisis first brought the U.S. economy to the brink, but reports of mortgage fraud are only increasing, up 31 percent in the first quarter of 2011, according to the Financial Crimes Enforcement Network , a Treasury bureau … Go to Source…
Years have passed since the housing crisis first brought the U.S. economy to the brink, but reports of mortgage fraud are only increasing, up 31 percent in the first quarter of 2011, according to the Financial Crimes Enforcement Network , a Treasury bureau … Go to Source…
Bank of America’s (BAC) fourth-quarter earnings report showed the bank continuing to wrestle with mortgage-related headaches. First take, things look good. Bank of America’s mortgage banking unit earned $2.12 billion, versus an estimate of a … Go to Source…
TRENTON, N.J. — State officials say the owner of several loan modification companies in New Jersey has agreed to pay $805,000 to settle charges that he defrauded struggling homeowners. Attorney General Paula Dow says Stephen Pasch also agreed to stay out … Go to Source…
WASHINGTON — Government watchdogs told a Senate panel Wednesday that the Obama administration’s effort to help homeowners avoid foreclosure isn’t working and the Treasury Department has failed to fix the program … Go to Source…
The Arizona Attorney General’s office will create a six-person mortgage fraud investigation and prosecution unit using a $1.7 million federal grant. Attorney General Terry Goddard says the unit will allow … Go to Source…
… simplify the paperwork consumers receive when taking out a home mortgage. Obama adviser Elizabeth Warren … possible, several consumer protections that are part of the sweeping overhaul of the financial system Go to Source…
Former mortgage broker Michael Pahutski was sentenced in federal court Friday to 19 years in prison – one of the longest sentences ever in the Charlotte area for crimes related to mortgage fraud. He was also ordered to pay restitution of about $3.5 million … Go to Source…
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