What do I tell my neighbor? She thinks she’s being rescued from foreclosure. Is she?

You’ve seen it in the news ( Swindlers Find Growing Market in Foreclosures , 1/15/2009, http://www.nytimes.com/2009/01/15/us/15mortgage.html ; Mortgage Fraud Case Poses Federal Quandary , 3/7/2009, http://www.nytimes.com/2009/03/08/nyregion/08scam.html ). And you know that scammers are out...

More on Fraud, Opinions and Contracts

Here at Construction Law Musings , I have discussed the interaction between fraud and contracts on many occasions . Recently, I got to put my advice into action. I am counsel for the plaintiff in the matter of Environmental Staffing Acquisition Corp. v. Beamon, et. al. in the Portsmouth, VA Circuit Court...

Mortgage Meltdown Litigation Pays Hundreds Of Millions To Injured Plaintiffs

The economy seems to be heading at last into recovery territory, and the mortgage crisis that began in 2007 is starting to seem like old news. But the effects of the lax underwriting standards and other questionable loan practices that spawned the crisis continue to play out in courts across the country...

LexisNexis' 14th Annual Mortgage Fraud Report

This exclusive LexisNexis research report, the 14th Annual Mortgage Fraud Report, is available today! These annual reports examine the current composition of residential mortgage fraud and misrepresentation involving industry professionals in the United States. In addition, this year we are including...

HOLA Does Not Preempt Fraud Claims against Mortgage Loan Servicer, California District Court Rules

The Southern District of California recently held that claims against a mortgage loan servicer are not preempted by the Home Owners Loan Act (HOLA) when they rely on "general allegations of misrepresentation" and are only "incidental" to the servicer's lending practices. The...

Federal Court Refuses To Dismiss Government’s Statutory Claims against Mortgage Originators That Allegedly Defrauded HUD

A federal judge recently rejected motions to dismiss in a suit in which the U.S. government alleged that two mortgage originators and their officers defrauded the Department of Housing and Urban Development (HUD) into insuring risky mortgage loans. In its complaint, the government alleged that the...

Recent Construction Law Opinion Roundup

We’re back to the more mundane, yet no less relevant, discussion of recent construction opinions here in Virginia. In the last quarter of 2013, the Virginia Circuit Courts in Norfolk and Richmond came out with opinions of interest to construction contractors and subcontractors. In Specialty...

Even Fraud in the Inducement is Tough in Construction

I have discussed how hard it is in the Commonwealth of Virginia to make out a claim for fraud when a construction contract is involved. On limited exception is where a claim for “fraud in the inducement” is involved. Essentially, such a claim states that one party was hoodwinked into entering...

"Just One Victory" By Bank Over Todd Rundgren In Foreclosure Fight

Todd Rundgren is a well known musician, songwriter, and producer. Most of his hits came out in the 1970's and early 1980's and are therefore a bit before my time. However, he was thrust back into the limelight when Liv Tyler shot to fame in the early 1990's as, among other things, the star...

Lender Allowed To Foreclose But Punished By Court For Violating Consumer Fraud Act

A New Jersey trial court has issued an interesting opinion, [ enhanced version available to lexis.com subscribers ], allowing a lender to foreclose but imposing significant limitations on the lender because the court concluded that the lender had violated the Consumer Fraud Act. In Freedom Mortgage...

mortgage fraud

loan fraud

Struggling Homeowners Scammed By $1,995 Guaranteed Home Loan Modification Scheme

In an elaborate loan-modification scheme, more than 90 homeowners struggling to make their mortgage payments have been defrauded out of at least $250,000. Robert Walker, who has been indicted on 21 counts of mail fraud and two counts of wire fraud, is accused of making multiple false representations...

Fraud Mastermind Uses Straw Buyer To Pull Off $2.1 Million Mortgage Theft

A six-count indictment has been filed in federal court charging Derryl L. Tanner and Julie A. Becker with engaging in a $2.1 million mortgage-fraud scheme. Tanner and Becker are accused of conspiring in 2006 to defraud several lending institutions related to transactions involving a home at 1517 Fitzroy...

New Exemption Under ILSA For Condo Units: Relief For Developers, Key Points To Note

By Maxine Hicks , Brian A. Cohen , and Adam T. Berkoff President Barack Obama has signed into law an amendment, [ enhanced version available to lexis.com subscribers ], to the Interstate Land Sales Full Disclosure Act of 1968 (ILSA). The new law, signed by the President on September 30, expands...