Latest Posts
Home > Tag Archives: mortgage fraud

Tag Archives: mortgage fraud

Mortgage Loan Fraud Reports Up Significantly

The Financial Crimes Enforcement Network has just released its Q3 2011 report on mortgage loan fraud. “As housing markets look to recover, criminals persist in their efforts to prey on struggling homeowners, while financial institutions continue to uncover apparent fraud as they work through their portfolios of earlier mortgages now in default,” said FinCEN Director James H. Freis, Jr. “FinCEN ... Read More »

    Hells Angel Commits Mortgage Fraud For Marijuana Grow House

    In September I covered a story about two leaders of the Hells Angels that had been accused of mortgage fraud. A mortgage broker in the San Francisco bay area was charged with conspiracy to arrange more than $10 million in fraudulent home loans including the two Hells Angels leaders. Raymond Foakes, former President of the Hells Angels Sonoma Chapter, pleaded ... Read More »

      It’s A Hard Knock Life For Mortgage Fraudsters

      For my generation the term “Hard Knocks” cannot be mentioned without the memorable image and sound of Jay-Z’s “ghetto anthem” rendition of “It’s A Hard Knock Life” from the play Annie. My personal favorite lyric and image from the infamous song being: “I’m from the school of the hard knocks, we must not let outsiders violate our blocks.” You see, ... Read More »

        $78 Million Mortgage Fraud “Dream Home” Scheme Owner Convicted

        Andrew Hamilton Williams, Jr., was convicted last week in Maryland of fraud conspiracy, wire fraud and conspiracy to commit money laundering in connection to a massive mortgage fraud scheme. The scheme, entitled “Metro Dream Homes” promised to pay off homeowners’ mortgages on the homes of their dreams but instead left them high and dry. According to evidence presented at the ... Read More »

          Mother Daughter Fraud Team Pleads Guilty After Five Days Of Trial

          Mid-trial a mother and daughter fraudster team, along with an accomplice from Las Vegas, pleaded guilty to participating in a mortgage fraud scheme that lead to more than $1.9 million in mortgage loan losses to lenders. Mother, Patricia Smith, pleaded guilty to Counts Four and Five of the Superseding Indictment, which charged her with wire fraud. Daughter, Jamilah Smith, pleaded ... Read More »

            Treasury Reports An 88 Percent Increase In Mortgage-Fraud Since 2010

            Banks are re-examining loans that took place during the housing boom and are now finding problems which has resulted in a large jump of reported mortgage-fraud. Reports are showing an 88 percent jump in the second quarter according to the Treasury Department. “Most of the mortgages suspected of fraud closed during the height of the real-estate bubble, the financial-crimes division ... Read More »

              Homeowners In Financial Distress Lose Over $1.2 Million To Mortgage “Rescue” Fraud

              To the tune of a MasterCard commercial: $4.7 million in fradulent mortgage loans… $944,224 lost by lenders…. $1.2 million lost in equity to homeowners…. Shameful. Mary Ann Dean and Charles Donaldson pleaded guilty to the charge of conspiracy to commit wire fraud in connection with a mortgage fraud scheme of Sunset Mortgage Company. Dean was a loan originator and operator ... Read More »

                Master Builders for Christ and Vision Builders Christian Center Steal Homes of People Facing Foreclosure

                Pastor+Mortgage+Fraud

                I’m not sure if it’s just me or that there seem to be more financial frauds occurring in the name of God. Using the words of God and a promised opportunity of hope in desperation, three Delaware residents stole the foreclosed houses of desperate homeowners. – Source Delaware Attorney General Beau Biden announced that Jamaar Manlove, Larry Manlove, Rhonda Manlove, ... Read More »

                  Exotic Dancer Opens Foreclosure Avoidance Company, Advertises on Gospel, Partner Punches Lawyer in Face

                  justball-144x125

                  LOL, OMG, you can’t make this stuff up. A Maryland woman who stole millions from Washington area homeowners trying to avoid foreclosure is a “vulture” whose case should serve as a warning to other con artists, a federal judge said yesterday before imposing a sentence of more than 12 years. Joy Jackson, 41, a former exotic dancer who became president ... Read More »

                    Get My FREE Get Out of Debt Guy Newsletter

                    It is the smart thing to do.

                    I promise to keep your email safe and secure.

                    Close

                    I want to keep you posted each weekday with just one email about the latest get out of debt news, scam alerts and information to beat back debt.

                    You can unsubscribe at any time with just one click.

                    After you subscribe, check your email to confirm your subscription. If the confirmation email does not appear in your inbox in a few minutes, check your spam folder for it. Sometimes it likes to annoyingly hide there.


                    • It will keep you posted on the latest scams.
                    • You will be alerted to the latest articles.
                    • You will wind up smarter than everyone else dealing with debt.