FBI Launches Criminal Probe into New York AG Letitia James for Mortgage Fraud
ALBANY, N.Y. — The FBI has opened a criminal investigation into allegations that New York Attorney General Letitia James falsified mortgage records related to property purchases in Virginia and Brooklyn, according to…
Pennsylvania attorney general sues mortgage brokers over kickback scheme
HARRISBURG, Pa. — Pennsylvania Attorney General Michelle Henry has filed a civil lawsuit against Lehigh Valley-based mortgage brokers and their manager, Barry Newhart, accusing them of orchestrating a kickback scheme with real…
New Jersey Bank engaged in discriminatory mortgage redlining practices, report
TRENTON, N.J. — Attorney General Matthew J. Platkin and the Division on Civil Rights (DCR) released a report on Tuesday revealing findings of unlawful mortgage redlining by Republic First Bank in New…
Real Estate Investor Admits to $54.7 Million Mortgage Fraud Scheme
TRENTON, NJ – Aron Puretz, a 53-year-old real estate investor from New Jersey, pleaded guilty today to participating in a sophisticated mortgage fraud conspiracy. Over several years, Puretz and his associates fraudulently…
Chicago Businessman Pleads Guilty to Federal Fraud Charge in Connection With Reverse Mortgage Scheme Targeting Elderly Homeowners
MARK STEVEN DIAMOND schemed with others to induce homeowners to unwittingly obtain reverse mortgage loans to pay for purported home repairs that Diamond offered to perform. Diamond and the co-schemers targeted elderly…
New Jersey Mortgage Lending Employees Charged in Fraud Scheme
NEWARK, NJ – Christopher J. Gallo, 44, of Old Tappan, New Jersey, and Mehmet A. Elmas, 32, a U.S. citizen residing in Turkey, have been charged with conspiracy to commit bank fraud,…
Home Sales Drop In March As Mortgage Rates Surge Over 7%
Existing home sales shrank in March as consumers respond to continuing price increases and rising mortgage rates. Sales for existing homes fell 4.3% in March compared to the previous month and 3.7%…
Baltimore County Man to Pay Off Mortgage with $50K Powerball Win
BALTIMORE, MD – A Baltimore County resident has claimed a $50,000 prize from the Powerball drawing on March 27, with plans to use his winnings to pay off his home mortgage. The…
South Jersey Politician Charged in Mortgage Fraud Scheme
TRENTON, N.J. – Nathaniel Anderson, deputy mayor of Willingboro Township, and Chrisone D. Anderson, a business associate, have been charged with orchestrating a fraudulent mortgage scheme, U.S. Attorney Philip R. Sellinger announced…
Bank Loan Brokers Caught in Mortgage Crisis Fraud
BOSTON, MA – Ted Capodilupo, Joseph Masci, and Brian Ferris faced sentencing today for orchestrating a scheme to deceive a local bank and the U.S. Small Business Administration (SBA), causing significant financial…
$10 Million Settlement Reached After Nationstar Mortgage Mishap
PHILADELPHIA, PA – In a joint endeavor, Attorney General Michelle Henry led a coalition of 50 Attorneys General to announce a $10 million settlement with payment processor ACI Worldwide, over a colossal…
Real Estate Investor Gets 2 Years for Mortgage Fraud
NEWARK, NJ – Anthony Garvin, a 53-year-old real estate investor from Jersey City, was sentenced to 24 months in prison today for his role in a home equity line of credit fraud…
Mortgage Rates Reach A 20-Year High Following Interest Rate Hikes
Mortgage Rates Reach A 20-Year High Following Interest Rate Hikes Will Kessler on August 17, 2023 The average 30-year fixed-rate mortgage hit a 20-year high on Thursday following interest rate hikes and…
This Small Mortgage Company’s Legal Battle With A Federal Agency Raises Huge Free Speech Concerns, Advocates Say
This Small Mortgage Company’s Legal Battle With A Federal Agency Raises Huge Free Speech Concerns, Advocates Say Katelynn Richardson on April 30, 2023 The Consumer Financial Protection Bureau (CFPB) sued a small…
‘Insanity’: New Biden Mortgage Rules Mask ‘True Risk’ Of ‘Bad’ Loans, Experts Say
‘Insanity’: New Biden Mortgage Rules Mask ‘True Risk’ Of ‘Bad’ Loans, Experts Say John Hugh DeMastri on April 29, 2023 An upcoming Biden administration rule could expose taxpayers to financial risks by…
‘Worsen Their Credit’: Obama Official Rips Biden Admin Mortgage Rule
‘Worsen Their Credit’: Obama Official Rips Biden Admin Mortgage Rule Harold Hutchison on April 20, 2023 A former Obama administration official ripped a proposed Biden administration rule Thursday, saying it incentivized people…
American Buyers ‘Retreat’ As High Mortgage Rates Strangle Housing Market
American Buyers ‘Retreat’ As High Mortgage Rates Strangle Housing Market John Hugh DeMastri on March 1, 2023 Surging mortgage rates pushed home buyers out of the market and sent volume for new…
Former Suffolk County Legislator And Co-Conspirator Convicted Of Defrauding Mortgage Lender Out Of More Than A Quarter Of A Million Dollars
Damian Williams, the United States Attorney for the Southern District of New York, announced the convictions of GEORGE GULDI, a former Suffolk County legislator and disbarred attorney, and VICTORIA DAVIDSON for defrauding…
Hudson County Real Estate Investor Admits Multi-Year Mortgage Fraud Scheme
NEWARK, N.J. – A Hudson County, New Jersey, real estate investor has admitted conspiring to orchestrate a fraudulent home equity line of credit scheme that led to over $400,000 in losses, U.S.…
Real Estate Developer and Attorney Both Admit to Multimillion-Dollar Mortgage Fraud Scheme
TRENTON, N.J. – A New Jersey real estate developer and attorney each admitted today to conspiring to orchestrate a mortgage fraud scheme that led to over $3.5 million in losses, U.S. Attorney…
Retired Maryland lottery winner says $300k jackpot will go to paying off mortgage
A man who bought multiple lottery tickets with the same number will now have $300,000 to pay off his mortgage. According to the Maryland Lottery, the lucky winner from Prince George’s County.…