HB Mortgage Fraud Results in Harsh Federal Sentence

The Orange County Register reported a Huntington Beach man and a female co-conspirator from Downey were sentenced to multiple years in federal prison for their role in a real estate fraud scheme which they operated from May 2003 through November 2005. The $12-million fraud targeted hundreds of southern California homeowners facing foreclosure. Victimized homeowners were identified via a computer database list of homes facing foreclosure.

As part of the scheme, the defendants would contact the homeowners and Read more

FBI and DOJ Now Involved in Orange County Mortgage Fraud Prosecutions

The Justice Department today reported filing 151 criminal mortgage fraud prosecutions in the first ten months of 2008. Of those, 19 were in California, while 73 were in Florida. Considering the fact that California is the largest U.S. market for high-risk home loans, followed closely by Florida and the Las Vegas area, we can expect the investigation of the collapsing subprime mortgage industry Read more

California Mortgage Fraud Arrests on the Rise

According to the FBI, “mortgage Fraud is one of the fastest growing white collar crimes in the United States”. Mortgage Fraud is defined as a material misstatement, misrepresentation, or omission relied upon by an underwriter or lender to fund, purchase, or insure a loan.

Generally, there are two types of Mortgage Fraud: Read more