Washington Mutual’s former Chief Executive Officer, Kerry Killinger defended the company’s actions at a Senate hearing on April 13th and insisted that the government should not have seized the bank during the peak of the financial crisis in September of 2008. Mr. Killinger argued that the company...

James Clifton Green also known as Jimmy pleaded guilty to bank fraud, mail fraud and money laundering on April 16th. Mr. Green from Tupelo, Mississippi was accused of misrepresentation on loan applications that he submitted to various Mississippi banks. The United States Attorney’s Office that Mr....

United States Attorney Benjamin B. Wagner announced on April 19th that United States District Judge William B. Shubb handed down a sentence of twenty one months in prison, one year of supervised release and an order to pay restitution over one million dollars to William T. Bridge. Mr. Bridge, age 43...

Clayton Hargrove, a St. Louis, MO developer has pleaded guilty to fraud for his involvement in a ten million dollar commercial renovation loan. The United States Attorney’s Office on May 4th stated that Mr. Hargrove diverted funds intended to renovate a downtown building into condominiums and office...

Edward Williams Farley, age 47 from Hoschton, Georgia was sentenced May 4th on charges of bank fraud and conspiracy involving mortgage fraud. Mr. Farley was the mastermind behind the twenty four million dollar Ponzi scheme that defrauded investors and financial institutions. Mr. Farley was sentenced...

In 2009 the rules for appraisals were changed so supposedly toughened and imposed on appraisers nationwide to avoid fraud within the mortgage industry. The figures have been release and show that appraisal fraud is actually on the rise. The Mortgage Assets Research Institute also know as MARI found that...

The Park Avenue Bank in Manhattan was closed by the New York State Banking Department on March 12th  and The Federal Deposit Insurance Corporation was appointed the receiver. The bank’s President Charles J. Antonucci was arrested on charges of bribery, wire fraud and embezzlement on the New York State...

Sean FitzPatrick was arrested on charges of bank fraud on March 18th according to sources close to the case. Mr. Fitzpatrick was a former chairman at the Anglo Irish Bank. A man fitting Mr. FitzPatrick’s description is according to Irish police is being held at the Bray Garda Station in County Wicklow....

United States Department of Housing and Urban Development otherwise known as HUD has what is called Home Equity Conversion Mortgages Program. The program was designed to help senior citizens obtain financial security through a Federal Housing Administration insured reverse mortgage loan. The program...