Originaly by MFR:  In the following press release from earlier today, U.S. Senator Charles E. Schumer and Kings County District Attorney Charles J. Hynes announced that the Kings County Mortgage Fraud and Real Estate Crimes Unit has led to the indictment of 8 individuals and the opening of more than...

Originaly by MFR: In the following press release The Securities and Exchange Commission [SEC] announced that it has filed a complaint in the United States District Court for the Central District of California against Horizon Property Holdings, L.C. (“Horizon”) and its principal, Cydney Sanchez. The...

Originaly by Robert Anglen: A Valley preacher with a worldwide ministry and his wife bought multiple upscale homes with deceptive loan applications, according to a state case accusing a mortgage firm of illegal practices. Clint Rogers, head of Mesa-based Clint Rogers Ministries, and Angela Faith Rogers...

Originaly by Freeman Klopott: Federal authorities have accused a Virginia accountant of writing false letters verifying the incomes of homebuyers who were caught in a mortgage fraud scheme that caused banks to lose about $3 million when their homes went into foreclosure. Maria E. Conrad would receive...

Originaly By Mary Kane: For neighborhoods fighting the blight and deteriorating property values caused by foreclosed properties that banks abandon or unload on speculators, this is big news: A housing court judge in Cleveland has ordered Wells Fargo to clean up the foreclosed houses it owns in Cleveland. In...

Originaly by HA: More people linked to Accel Mortgage face federal charges Another mortgage fraud criminal case has been filed in federal court, this one accusing more people affiliated with Accel Mortgage LLC with conspiracy to commit mail, wire and loan fraud. Charged in the case are Carla Dutro, identified...

Economists, politicians, and pundits refer to “toxic assets” as if they are some unspeakable stew bubbling in a barrel behind an old warehouse. But “toxic assets” are actually mortgages and, by extension, houses and the people who live in them. Sandra Berrios is one of millions...

Criminal fraud may be the most underreported aspect of our current financial crisis. In this “Road to Ruin” report, former subprime lenders from Ameriquest, once the country’s largest lender, describe a system rife with fraud. They describe how a “by-any-means-necessary”...

Federal Trade Commission Release: At the request of the Federal Trade Commission, a federal court has halted a bogus mortgage foreclosure prevention operation that misrepresented both the “loss mitigation” services it offered and the earnings potential of the business opportunity it sold. The FTC...