Find Real Estate Agents and Homes for Sale


Real Estate News --> News

41 people charged in mortgage fraud (USA Today)


A mortgage fraud crackdown announced Thursday resulted in the arrests of dozens of people, including six lawyers, seven loan officers and three mortgage brokers in four states.

View Story

Get information on education programs that could help you increase your earning power. Quick Degree Finder Select a Degree Level Certificate Programs Associates Degree Bachelors Degree Masters Degree Doctoral Degree Select a Category Select a Subject 41 people charged in mortgage fraud Posted document.write(niceDate('10/15/2009 2:16 PM')); | Comment  | Recommend E-mail | Print | .addthis_button_email span {display: none;} .addthis_button_print span {display: none;} var storyURL = "http://www.usatoday.com/money/economy/housing/2009-10-15-mortgage-fraud_N.htm"; var storyTitle = "41 people charged in mortgage fraud"; var articleSummary = "A mortgage fraud crackdown announced Thursday resulted in the arrests of dozens of people, including six lawyers, seven loan officers and three mortgage brokers in four states."; document.write('<\/scr' + 'ipt>'); if (typeof(articleSummary) == 'undefined'){ var articleSummary =""; } var articleSource = "USATODAY.com"; var yahooBuzzArticleId = 'usatoday:'+storyURL+'?csp=34'; var yahooBuzzBadgeType = 'text'; var twtUrl = usatlyshorturl; var maxLength = 140 - (twtUrl.length + 1); var twtSource = 'RT @USATODAY' if (storyTitle.length > maxLength) { storyTitle = storyTitle.substr(0, (maxLength - 5))+'...'; } var twtLink = 'http://twitter.com/home?status='+encodeURIComponent( twtSource + ' ' + storyTitle + ' ' + twtUrl ); function GetThis(T, C, U, L) { var targetUrl = 'http://www.myspace.com/index.cfm?fuseaction=postto&' + 't=' + encodeURIComponent(T) + '&c=' + encodeURIComponent(C) + '&u=' + encodeURIComponent(U) + '&l=' + L; window.open(targetUrl); } var sclListTop = ""; sclListTop +=''; sclListTop +=' '; sclListTop +=' Share'; /*sclListTop +=' ';*/ sclListTop +='  Add to Mixx'; sclListTop +='  Facebook'; sclListTop +='  '; sclListTop +=' '; sclListTop +=' '; sclListTop +=' More'; sclListTop +=' '; sclListTop +='  Fark'; sclListTop +='  Digg'; sclListTop +='  Reddit'; sclListTop +='  MySpace'; sclListTop +='  StumbleUpon'; sclListTop +='  Propeller'; sclListTop +='  LinkedIn'; sclListTop +=' '; sclListTop +=' '; sclListTop +=' '; sclListTop +=' '; sclListTop +=' '; sclListTop +=''; jQuery("#topSocialButtons").append(sclListTop); jQuery(".share-nav").treeview({control: ".treecontrol",animated: "medium",collapsed: true}); jQuery(function() { jQuery.ajax({ type: "GET", url: "/marketing/rss/settings.xml", dataType: "xml", success: BuildSubscribeButtons }); }); function BuildSubscribeButtons(xml) { // Build SSTS array var url = document.location.toString(); var urlArray = url.split("/") var nurl = ""; for (i = 3; i < urlArray.length - 1; i++) { if(i0) { idx = nurl.indexOf('|'); jQuery(xml).find('add').each(function(){ if (jQuery(this).attr('key') == nurl) { feedid = jQuery(this).attr('value'); } }); if (feedid == "") { nurl = nurl.replace(/(.*)\|(.*)/,"$1"); } } jQuery(xml).find('add').each(function(){ if (jQuery(this).attr('key') == feedid) { feedname = jQuery(this).attr('value'); } }); if (feedname == "") feedname = "usatoday-NewsTopStories.xml"; var sclListTop = ""; sclListTop +=''; sclListTop +=' '; sclListTop +=' Subscribe'; sclListTop +='  myYahoo'; sclListTop +='  iGoogle'; sclListTop +=' '; sclListTop +=' '; sclListTop +=' '; sclListTop +=' '; sclListTop +=' More'; sclListTop +=' '; sclListTop +='  Netvibes'; sclListTop +='  myAOL'; sclListTop +=' '; sclListTop +=' '; sclListTop +=' '; sclListTop +=' '; sclListTop +=' '; sclListTop +=' '; sclListTop +=' '; sclListTop +=' '; sclListTop +=' '; sclListTop +=''; jQuery("#topSocialButtons").append(sclListTop); jQuery(".subscribe-nav").treeview({control: ".treecontrol",animated: "medium",collapsed: true}); } By Larry Neumeister, Associated Press Writer NEW YORK — A mortgage fraud crackdown announced Thursday resulted in the arrests of dozens of people, including six lawyers, seven loan officers and three mortgage brokers in four states. Thirty-one people were arrested in New York, Pennsylvania, Ohio and North Carolina

They were among 41 people charged with engaging in mortgage fraud scams that defrauded lenders out of more than $64 million in home mortgage loans. Of the 10 other defendants, one was expected to surrender later Thursday, four were previously charged and five remained at large. Authorities gathering for an afternoon news conference in Manhattan said the crackdown, dubbed "Operation Bad Deeds," was aimed at the failure of gatekeepers in the mortgage industry to act responsibly and legally. "Unfortunately, instead of protecting our financial system, in some cases they abused their positions and joined criminal schemes to steal millions of dollars," said Richard Neiman, the superintendent of banks for New York State. U.S

Attorney Preet Bharara said in a statement that he found it "especially alarming" that lawyers, loan officers and mortgage brokers treated their professions as a "license to loot banks and profit from other people's pain." Those charged also included an accountant and a residential property appraiser. Authorities said the arrests resulted from a series of investigations conducted by state and local authorities along with federal prosecutors, the FBI, the New York State Banking Department, federal housing authorities, the U.S

Secret Service and U.S

Postal Service investigators. Most of the bank fraud, wire fraud and conspiracy charges brought against the defendants carry potential prison terms of 20 to 30 years each.

Trending News:


  • Adjustable-rate mortgage holders vulnerable to sudden rate increase (Washington Post)
  • Kremlin Mortgage Goal ‘Out Of Reach’ (The Moscow Times)
  • Capital City Real Estate Hosts Broker Preview Of Williams-Addison House, Offered At $18.5 Million
  • Mortgage battle gains steam, investors recruited
  • Five Real Estate Agents Will Receive Tools to Successfully Navigate Changing Real Estate Landscape During HomeFinder ...
  • Apollo Commercial Real Estate Finance, Inc. to Present at Wells Fargo Global Real Estate Securities Conference (Marketwire)
  • Real estate dispute leads to woman’s harassment charge
  • Hot Real Estate Listings - South Burnet (Austinist)
  • New rules over mortgage arrears (BBC News)
  • Real Estate Broker Offers Improved Compensation Plan and Time-savings for Agents (Business Wire via Yahoo! Finance)
  • Vegas real estate firm denies claims (UPI)
  • Fee discontent is real: Former Ray White agent Damon Anasta offers fixed fees
  • Agent fined for forgery
  • The realWITS Company Launches Websites for Real Estate Companies Dubbed “Smarter”
  • 7 Secrets of Celebrity Real Estate
  • Real Estate Agent Goes To Prison (Beverly Hills Courier)
  • Police Kill Ore. Man Who Wounded Real Estate Agent
  • In S. Korea, Mortgage Loans Rise, and Banks Brace (New York Times)
  • Real estate agent found guilty of disgraceful conduct
  • Real estate agent wanted on drugs, weapons charges (WRAL.com Raleigh)