Mortgage fraud is being called the country’s fastest-growing white-collar crime. It costs lenders more than $1 billion a year and has turned increasing numbers of federal agents into experts on real estate paperwork. These days, they quickly crack cases that once took years to work, experts say. Here is another article on the Kansas City [...]
Indicitments were handed down against 61 defendants in Cuyahoga County, Ohio. The defendants include mortgage brokers, loan officers, title company officers, 45 buyers and sellers and an appraiser. In total this group was involved in 38 properties involving $2.85 million in mortgages. Doug Burkhardt the chief investigator for the Cuyahoga County Sheriff’s department says “we’re [...]
I love trying to write fun headlines. Colorado lawmakers plan to introduce a bill this session which would make it a crime to coerce, compel, compensate, or intimidate real estate appraisers to obtain inflated appraisals. Targeting mortgage fraud head on, first time offenders would face misdemeanor charges, repeat offenders would face felony charges. Colorado is [...]
I hear that and I figure someone wants the passenger set, not that we are talking about mortgage fraud. Daily Real Estate News from the National Association of Realtors has released a story “Beware of Latest Mortgage Scam“. Shotgunning is where thieves apply for multiple home loans simultaneously on the same property. The story claims [...]
Another Kansas City politician was indicited today for alleged fraud and they could end up in the “Big House” just for “selling their house” or so they claim. Former Jackson County Executive Katheryn Shields and her husband, Philip Cardarella knowingly signed fraudulent paperwork related to the proposed sale of their home, according to a federal [...]
