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WASHINGTON – A real estate agent and a mortgage broker, both of Las Vegas, were found guilty today for their participation in a mortgage fraud scheme that netted nearly $2.5 million in fraudulent mortgage loans, announced Assistant Attorney General Lanny A. Breuer of the Justice Department’s Criminal Division, U.S. Attorney Daniel G. Bogden of the Continue reading… Las Vegas Real Estate Agent and Mortgage Broker Convicted for Their Roles in Mortgage Fraud Scheme Ninth Guilty Plea in the Investigation to Date SACRAMENTO, Calif. — A real estate investor pleaded guilty today in U.S. District Court in Sacramento to conspiring to rig bids and commit mail fraud at public real estate foreclosure auctions held in San Joaquin County, Calif., Sharis A. Pozen, Acting Assistant Attorney General of the Department of Continue reading… California Investor Pleads Guilty To Bid Rigging And Fraud At Public Real Estate Foreclosure Auctions A loan officer was sentenced Friday by U.S. District Court Judge William P. Dimitrouleas in Ft. Lauderdale, Fla., for his participation in a nationwide $2.5 million reverse mortgage fraud scheme, the Justice Department announced. Louis Gendason, 42, of Delray Beach, Fla., was sentenced to 70 months in prison, five years of supervised release and ordered to Continue reading… Florida Loan Officer Sentenced in Connection with $2.5 Million Reverse Mortgage Fraud and Loan Modification Scheme Defendant Collected $1.6 Million from 1,100 Distressed Homeowners WASHINGTON – An Austin, Texas, man pleaded guilty today in the Western District of Texas for his role in operating a foreclosure-rescue scam in Southern California and elsewhere that charged distressed homeowners fees in exchange for fraudulently postponing foreclosure sales. OKLAHOMA CITY—DEREK CHRISTOPHER SWANN, 39, of Norman, was sentenced yesterday to serve 40 months in federal prison for money laundering related to a failed Edmond commercial and residential development called “The Falls,” announced Sanford C. Coats, United States Attorney for the Western District of Oklahoma. Earlier this year, Giovanni Bryan Continue reading… Norman Man to Serve 40 Months in Prison and Pay $4.3 Million in Restitution in Connection with Edmond Condominium Project FHA “anti-flipping” regulations prohibit lenders making an FHA loan on a home that the seller has owned for less than 90 days. However, in 2010 this regulation was waived temporarily through January 31, 2011 by FHA in an effort to help the housing market conditions. Subsequently, that waiver was extended through the Continue reading… FHA Extends Waiver of Anti-Flipping Regulations Through End of 2012 WASHINGTON – A Florida loan officer was sentenced today by U.S. District Court Judge William P. Dimitrouleas in Ft. Lauderdale, Fla., for his participation in a nationwide $2.5 million reverse mortgage fraud scheme, the Justice Department announced. Companies Agree to Cooperate in SEC Actions Washington, D.C., Dec. 16, 2011 — The Securities and Exchange Commission today charged six former top executives of the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac) with securities fraud, alleging they knew and approved of misleading Continue reading… SEC Charges Former Fannie Mae and Freddie Mac Executives with Securities Fraud The U.S. District Court in Sacramento unsealed an indictment this past Tuesday against four real estate investors and an auctioneer for their participation in conspiracies to rig bids and commit mail fraud at public real estate foreclosure auctions held in San Joaquin County, Calif., Sharis A. Pozen, Acting Assistant Attorney General of the Department of Justice’s Antitrust Division, and Benjamin B. Wagner, U.S. Attorney for the Eastern District of California, announced. The Federal Housing Finance Agency (FHFA), on its own behalf and as Conservator for Fannie Mae and Freddie Mac (the Enterprises), has filed a lawsuit in the U.S. District Court for the Northern District of Illinois against the city of Chicago to prevent enforcement of the city’s recently amended “Vacant Buildings Ordinance” against the Enterprises. Continue reading… FHFA Sues the City of Chicago Over Vacant Buildings Ordinance WASHINGTON – Lisa Wright, 46, and Cathy Saffer, 52, of Pompano Beach, Fla., were charged today with a conspiracy to defraud homeowners and banks in a foreclosure rescue scheme, announced the Department of Justice. Also charged was Barrington Coombs, 57, a certified public accountant of Weston, Fla., who participated Continue reading… Three Charged with Fraud in Florida Foreclosure Rescue Scheme The Justice Department today announced a settlement of its lawsuit against the owners, developers, architect and civil engineers of Park Place Apartments, a 276-unit complex in Louisville, Ky., resolving allegations that those involved in the design and construction of the complex discriminated against people with disabilities. Under the settlement, which must still be approved by a federal district judge in Louisville, the defendants will pay all costs related to making the apartment complex accessible to persons with disabilities and pay $275,000 to compensate 29 individuals who have been harmed by the inaccessible housing. WASHINGTON – A Mobile, Ala., real estate investor has agreed to plead guilty today for his role in a conspiracy to rig bids and commit mail fraud at public real estate foreclosure auctions in southern Alabama, the Department of Justice announced. ST. LOUIS, MO—The United States Attorney’s Office announced the guilty plea of Matthew Kent, vice president and co-operator of Coral Mortgage Bankers Corporation’s University City office. According to court documents, between May 2007 and December 31, 2010, Kent, his partner in Coral Mortgage David Rubin, and Joshua Gould, formerly of Woodbury Continue reading… Former Coral Mortgage Operator Pleads Guilty to Multi-Million Dollar Securities Fraud WASHINGTON – The Justice Department today announced that Roger Harris, Hediger Enterprises Inc., Carroll Management Group, Forum Manor Associates L.P. and Forum Manor LLC have agreed to pay $295,000 in monetary damages and civil penalties to resolve a Fair Housing Act lawsuit alleging sexual harassment, race and sex discrimination, retaliation Continue reading… Justice Department Settles Housing Discrimination Lawsuit in Rolla, Missouri WASHINGTON – The Justice Department today filed a lawsuit against the owners and managers of 23 rental homes in Magee, Miss., for violating the Fair Housing Act by discriminating against families with children. WASHINGTON – Two individuals – a loan officer and a title agent – have been sentenced by U.S. District Court Judge William P. Dimitrouleas in Ft. Lauderdale, Fla., for their participation in a nationwide $2.5 million reverse mortgage fraud scheme, the Justice Department announced today. WASHINGTON – Eight Northern California real estate investors have agreed to plead guilty this week for their roles in two separate conspiracies to rig bids and commit mail fraud at public real estate foreclosure auctions in Northern California, the Department of Justice announced. WASHINGTON – The Justice Department announced this week a settlement of its lawsuit alleging that Equity Homes Inc, PBR LLC, BBR LLC and Shane Hartung violated the Fair Housing Act (FHA) by failing to provide features that would make their multi-family housing developments in Sioux Falls accessible to people with disabilities Continue reading… Justice Department Resolves Lawsuit Alleging Disability Discrimination in Sioux Falls, South Dakota KANSAS CITY, MO—Beth Phillips, United States Attorney for the Western District of Missouri, announced that two California men were indicted by a federal grand jury today for a mortgage fraud scheme that defrauded a failed Sugar Creek, Mo., bank of more than $8.5 million. BALTIMORE—Brenda Lukenich, age 60, of Hughesville, Maryland pleaded guilty this week to mail fraud arising from a scheme to defraud lenders and a title insurance company of $1.7 million. Two co-defendants are scheduled for trial on November 7, 2011. The plea agreement was announced by United States Attorney for the District of Continue reading… Title Company Escrow Accountant Pleads Guilty in $1.7 Million Mortgage Fraud Scheme Investigation Has Yielded Charges Against 10 Individuals to Date WASHINGTON — Two California real estate investors have agreed to plead guilty today for their roles in a conspiracy to rig bids and to commit mail fraud at public real estate foreclosure auctions in Northern California, the Department of Justice announced. WASHINGTON – Alexander Otis Matthews, a Virginia real estate businessman, was sentenced today to 10 years in prison in connection with mortgage and investment schemes to obtain more than $12 million in fraudulent loans. The sentencing was announced by Assistant Attorney General Lanny A. Breuer of the Justice Department’s Criminal Division, U.S. Attorney Neil H. MacBride Continue reading… Virginia Real Estate Businessman Sentenced to 10 Years in Prison for Mortgage and Investment Fraud Schemes Real Estate Developer Also Pleads Guilty to Making False Statement in Separate Case WASHINGTON – Harris County Commissioner Gerald R. Eversole and Houston-based real estate developer Michael D. Surface both pleaded guilty today in federal court in Houston to making false statements, announced Assistant Attorney General Lanny A. Breuer of the Justice Department’s Criminal Division, Special-Agent-In-Charge Continue reading… Harris County, Texas, Commissioner Pleads Guilty to Making a False Statement to FBI; Real Estate Developer Pleads Guilty to False Tax Statement A report released today by the Financial Crimes Enforcement Network (FinCEN) shows that financial institutions filed 29,558 reports suspecting mortgage loan fraud activity during the 2nd quarter, an increase of 88 percent from the 2nd quarter of 2010 when there were 15,727 reports. WASHINGTON – The Justice Department announced today that the developer and designers of an apartment complex in Washington Township, Mich., have agreed to settle a lawsuit alleging that they violated the Fair Housing Act when they designed and constructed a 200 unit apartment complex with steps to the front door and other barriers that make Eighth Guilty Plea in the Investigation to Date WASHINGTON — A real estate investor pleaded guilty today in U.S. District Court in Sacramento to conspiring to rig bids and commit mail fraud at public real estate foreclosure auctions held in San Joaquin County, Calif., Sharis A. Pozen, Acting Assistant Attorney General of the Department of Justice’s Continue reading… CALIFORNIA REAL ESTATE INVESTOR PLEADS GUILTY TO BID RIGGING AT PUBLIC FORECLOSURE AUCTIONS WASHINGTON – The Justice Department today announced a $95,000 settlement to resolve a lawsuit alleging that the former manager of Park Towers Apartments in Waterloo, Iowa, sexually harassed female tenants at the complex. The lawsuit alleges that Michael Nieman, the former on-site manager of Park Towers, sexually harassed female tenants in National Association of REALTORS® (NAR) President, Ron Phipps, wrote a letter to Shaun Donovan, Secretary of the Department of Housing and Urban Development, Timothy Geithner, Secretary of the Treasury Department and Edward DeMarco, Acting Director of the Federal Housing Finance Agency with suggestions on how to improve the Real Estate Owned (REO) asset disposition programs Continue reading… REALTORS offer suggestions to the Fed on how to deal with the REO problem |
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