Mortgage Fraud

Wikipedia Description

Mortgage fraud is a crime in which the intent is to materially misrepresent or omit information on a mortgage loan application in order to obtain a loan or to obtain a larger loan than could have been obtained had the lender or borrower known the truth.

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Wells Fargo mortgage error victims lost homes, file lawsuits | Charlotte Observer

Customers state how a Wells Fargo mortgage modification issue ruined their lives. They are taking legal action after they lost their homes when the San Francisco bank computer glitch denied lower loan payments. — Read on Advertisements


HMDA Proposed Changes – Are You in the Know?

Attorney General Becerra Announces Sentencings in $2 Million Mortgage Fraud Scheme in Southern California

De Blasio administration moves to foreclose on hundreds of homes in black and Hispanic neighborhoods

Attorney General Holder Appoints Eight New U.S. Attorneys to Advisory Committee

Fraud Schemes and their Characteristics – Resources to Help You Combat Mortgage Fraud

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  • Billion Dollar Mortgage Fraud Schemer Sentenced January 13, 2016
    Prison time is ahead for a defendant in a smaller residential lending fraud case and an exponentially larger case involving distressed commercial real estate loans.Tony Huy Havens has been sentenced for arranging the fraudulent purchase of a single-family residence in Modesto, California, using relatives as straw buyers.But the simple case of mortgage fraud pales in […]
  • Mortgage Banker on Trial for $30 Million in Fraud January 8, 2016
    A federal prosecutor delivered his opening statement to a New York jury in a criminal case alleging $30 million in secondary and mortgage fraud.On trial are Aaron Wider, who heads up the mortgage banking firm HTFC Corp., and Joseph Ferrara Jr., who claims he is innocent of the charges.According to the Department of Justice, HTFC […]
  • Loan Application Fraud on the Decline December 29, 2015
    For several months now, applications for residential loans have seen fewer instances of prospective borrowers trying to mislead home lenders.The frequency of defects, fraud and misrepresentation in the information submitted in loan applications was off more than a percent in November.It turns out that defect and misrepresentation risk on mortgage applications has actually declined for […]
  • Former Cop Admits Role in Mortgage Broker Fraud November 24, 2015
    A former police officer who was honored for his efforts in reducing violent crimes has admitted to his role in a pre-crisis mortgage fraud scheme.Century III Home Equity was a mortgage brokerage that operated in the Pittsburgh area until 2008. The company was owned by James Nassida.Federal prosecutors allege that Nassida and other members of […]
  • Former SunTrust Executive, Relatives Convicted February 5, 2015
    A former executive at SunTrust Mortgage Inc., his wife and two brothers-in-law have been convicted for running a mortgage fraud scheme.Back in 2005, Mohsin Raza was employed at Bank of America Corp. SunTrust recruited Raza at that point to work as a vice president.According to court documents, Richmond, Virginia-based SunTrust hired Raza to open a […]