LexisNexis® Legal Newsroom
Mortgage Fraud Continues to Climb According To LexisNexis® Mortgage Asset Research Institute

Incidents of Mortgage Fraud Increase 7 Percent from 2008 to 2009 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...

Victims of Mortgage Fraud Bar Themselves from Restitution

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...

Lengthy Prison Sentence Affirmed For Former Florida Beekeeper Of The Year Turned Mortgage Fraud Kingpin

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)....

Ballard Spahr LLP: California Legislature Streamlines AG Investigations of Mortgage Fraud

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...

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...

Bank of America to Pay $375 Million to Settle Fraud Claims with Insurer

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...

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...