Friday, April 13, 2012

Mortgage Scams Identity Theft - Fri Apr 13, 2012


Hudson County Woman Sentenced to 1 Year for Role in Mortgage Fraud Scheme
LoanSafe
(Source: FBI) - CAMDEN, NJ—A Hudson County, New Jersey woman was sentenced today to 12 months in prison for her role in various mortgage fraud scams that collectively sought to defraud lenders out of more than $5.5 million and involved 17 New Jersey ...
Financial fraud highest in 2011
Daily Caller
Analysts say that these cases of fraud can be directly related to the financial meltdown. “The financial meltdown that took place from 2007 to 2009 uncovered all the skeletons, what was taking place in the marketplace, from mortgage financing to Ponzi ...

Sixty Percent Spike Seen in Foreclosure Rescue-Related Scams
National Mortgage Professional Magazine
The Homeownership Preservation Foundation (HPF) has announced that reported mortgage foreclosure scams have surged nearly 60 percent this year in the wake of newly launched federal programs. In addition to its free counseling to help avoid foreclosure, ...
Mortgage brokers at risk from scams, warns lender
Mortgage Solutions
Mortgage brokers need to watch out for fraudsters, the man who uncovered a £1.5m scam has warned. Andrew Bloom, the director of bridging loans company Masthaven, helped police to catch two men posing as wealthy Arab brothers when they attempted to take ...
Scam Alert — the truth about loan modification scams
Broken Arrow Ledger
“One of the real problems with mortgages is that people are scammed,” Reecher said. “You cannot charge a client a penny, not one thin dime, for helping them on a modification.” He said companies that convince people they can make the process quicker ...
Big banks forgive Aussie sub-prime debts
The Australian
MANY of the nation's biggest banks - including Westpac and Macquarie - are being forced to forgive debts granted on the basis of false information about borrowers supplied by mortgage brokers during the last property boom. Under the scams, which draw ...


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