· Two Indicted in Sweeping mortgage fraud investigations. providence, R.I.. today that this indictment represents the latest charges brought in a wide-ranging series of on-going federal criminal investigations into mortgage fraud in Rhode Island. The investigations are being conducted by the United States Attorney’s Office, the FBI, the U.S.
· Mueller cited stats that the mortgage fraud sars jumped more than 36 percent in fiscal year 2008, to 63,173. And already in FY2009, Treasury has received 28,873 of the reports. As the Center reported earlier, the FBI’s work in pursuing white-collar cases, which include mortgage fraud and various other crimes, dropped dramatically after 2001.
Suspected Mortgage Fraud Reports to FBI Grew 5% in 2009 – The number of suspected mortgage fraud activities reported to law enforcement grew 5% during fiscal year 2009 to 67,190, according to the latest yearly mortgage fraud report from the Federal.
Easing lending standards bring back first-time buyers A housing recovery that was expected. at historically low levels. First-time home buyers, who traditionally drive home sales, remain saddled with student debt and face still-stringent lending.Republican jobs bill aims to repeal Dodd-Frank The repeal of Dodd-Frank will not come in one fell swoop. Rather House Republicans are moving in several stages to reduce the scope of the Volcker Rule and to gut its effectiveness. The first step in this direction came on Wednesday, with a bill brought to the floor of the House supposedly to "make technical corrections" to Dodd-Frank. This.
· CoreLogic estimated over $19 billion worth of mortgages contained mortgage fraud over a 12-month period ending in the second quarter of 2014. Types of Mortgage Fraud. According to the FBI, mortgage fraud is simply a “misstatement, misrepresentation, or omission in relation to a mortgage loan which is then relied upon by a lender.”
· FBI Cracks Down On Mortgage Fraud.. Banks reported nearly 53,000 cases of suspected mortgage fraud last year, up from more than 37,000 a year earlier and about 10 times the level of reports in.
MORTGAGE FRAUD IS INVESTIGATED BY THE FBI Mortgage Fraud is investigated by the Federal Bureau of Investigation and is punishable by up to 30 years in federal prison or $1,000,000 fine, or both.
Limited time only: Fannie Mae to help cover mortgage closing costs cherry hill mortgage investment corporation (CHMI) Q4 2018 Earnings Conference Call Transcript – Greetings and welcome to the Cherry Hill Mortgage Investment Corporation Fourth Quarter 2018 earnings call. At this time, all participants are in a listen-only mode. quarter and still outperforming.
The FBI investigates mortgage fraud in two distinct areas: Fraud for Housing and Fraud for Profit. Fraud for Profit is sometimes referred to as "Industry Insider Fraud" and the motive is to remove equity, falsely inflate the value of the property or issue loans based on fictitious property(ies). Based upon existing investigations and mortgage fraud
Allstate sues JPMorgan Chase over sale of toxic RMBS Allstate Sues Over Citi, Deutsche Bank Hide-And-Seek. – Allstate Sues Over Citi, Deutsche Bank Hide-And-Seek. against Bank of America Corp. and JP Morgan Chase & Co., Allstate is currently seeking $1.8 billion in damages from those companies on.
FBI cracking down on mortgage fraud in Neb. | Local. – FBI cracking down on mortgage fraud in Neb.. investigating five times more mortgage fraud cases than it was in mid-2008 and is opening new cases every month.. collar crime in response to a.
California foreclosures set to surge Foreclosure surge hits home in Lynchburg area | Local News. – That equals more than one foreclosure in Central Virginia every day, and one foreclosure for every four homes sold in the region in the first six months of the year, according to real estate agent.
Data prepared for The Wall Street Journal by research firm CoreLogic, examining about seven million home loans made by hundreds of lenders, show that losses from mortgage fraud-ranging from falsified credit reports to identity theft-rose 17% last year after declining 57% in the two years after its 2006 peak.