Incidents of Mortgage Fraud Increase 7 Percent from 2008
Florida, New York and California Top List of States with Highest
Mortgage Fraud and Misrepresentation Rates
New York, NY – Reported incidents of mortgage fraud and
misrepresentation by professionals in the mortgage industry...
A "victim's" participation in a fraudulent mortgage
scheme, regardless of criminal liability, will generally exclude the victim
from restitution, according to a recent Massachusetts decision.
With the help of Ryan Lazar, a loan originator, R.L. and
B.L. participated in a fraudulent...
A federal appeals court recently affirmed the 28-year prison sentence doled out to Phillip Hill, a Georgia man convicted of mortgage fraud who was once named the beekeeper of the year in the state of Florida (proving once again that all things foreclosure have some connection to the Sunshine State)....
The California Assembly and Senate unanimously passed identical bills to simplify the California Attorney General's ability to launch and conduct statewide grand jury mortgage fraud investigations. The twin bills were sponsored by Attorney General Kamala D. Harris as part of a six-bill package titled...
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...
NEW YORK - (Mealeys) Bank of America
Corp. and its Countrywide Home Loans Inc. affiliate will pay $375 million to a
financial guarantee insurer to settle claims that Countrywide misrepresented
the standards used in underwriting mortgage loans that served as the basis for
five securitizations of mortgage...
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.