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…
Leader of Nevada City-Based Mortgage Fraud Scheme Sentenced to 15 Years in Prison
SACRAMENTO, Calif. — James Christopher Castle, 57, formerly of Petaluma, was sentenced today to 15 years in prison for a bank fraud scheme that sought to fraudulently eliminate home mortgages and then…
Black Knight: Mortgage Delinquencies Hit Record Low in March, Driven by Both Seasonal and Broader Economic Improvements; Prepays Up Despite Rate Increases
The national delinquency rate dropped by more than half a percentage point in March, falling to 2.84% and shattering the previous record low of 3.22% in January 2020 While March typically sees…
Vallejo Woman Agrees to Resolve False Claims Act Allegations Involving Food Stamp and Unemployment Mortgage Assistance Programs
SACRAMENTO, Calif. — Dorothy Natividad, of Vallejo, has paid $116,900 in damages and civil penalties to resolve allegations that she knowingly made false statements to obtain benefits from both the Food Stamp/Supplemental…
Mortgage Short Sale Negotiator Sentenced for Defrauding Mortgage Lenders
BOSTON – The principal and co-founder of a mortgage short sale assistance company was sentenced yesterday in connection with defrauding mortgage lenders and investors out of nearly $500,000 in proceeds from about…
‘Significant Uncertainty’: Mortgage Demand Plummets Amid Sky-High Rates, Massive Inflation
‘Significant Uncertainty’: Mortgage Demand Plummets Amid Sky-High Rates, Massive Inflation Harry Wilmerding on March 16, 2022 Mortgage demand plummeted in mid March after a sharp increase in rates and inflation, the Mortage…
Essex County Man Sentenced to 108 Months in Prison for Mortgage and Securities Fraud Schemes
NEWARK, N.J. – An Essex County, New Jersey, man was sentenced today to 108 months in prison for conspiring to obtain mortgage loans to finance the sale of properties to unqualified buyers,…
California Man Pleads Guilty For Operating A Multi-Million Dollar Mortgage Modification Fraud
Damian Williams, the United States Attorney for the Southern District of New York, and Daniel B. Brubaker, Inspector-in-Charge of the New York Office of the United States Postal Inspection Service (“USPIS”), announced…
Former Real Estate Attorney and Wife Plead Guilty to Mortgage Fraud and Tax Charges
BOSTON – A former Massachusetts attorney and his wife pleaded guilty today in federal court in Boston in connection with various mortgage fraud schemes. Barry Wayne Plunkett Jr., 61, and Nancy Plunkett,…
Mortgage Applications Plummet As Housing Prices Surged To Record High
Mortgage Applications Plummet As Housing Prices Surged To Record High Harry Wilmerding on February 23, 2022 Mortgage applications plummeted to their lowest level in three years as rates continued to edge higher,…
New Jersey offering up to $35,000 in financial mortgage assistance for struggling homeowners
TRENTON – Governor Philip D. Murphy and Lt. Governor Sheila Y. Oliver today announced the upcoming launch of the Emergency Rescue Mortgage Assistance Program (ERMA), administered by the New Jersey Housing and…
Real estate agent sentenced for running multi-year mortgage and real estate commission fraud schemes
ATLANTA – Atlanta real estate agent Eric Hill has been sentenced for his participation in a mortgage fraud scheme that netted more than $21 million in fraudulent mortgage loans. Many of the…
Americans Ring In 2022 With Highest Mortgage Rates Since The Pandemic Started
Harry Wilmerding on January 6, 2022 Mortgage rates soared to their highest level since the beginning of the pandemic in the first week of 2022, according to Freddie Mac. The 30-year fixed-rate…
Augusta man convicted of multi-million-dollar scheme to defraud a mortgage lender
AUGUSTA, GA: An Augusta man has been convicted of fraud by a federal jury who found he committed fraud when he borrowed nearly $3 million to refinance an Augusta apartment complex, and…
Former President of First Mortgage Company Sentenced to Serve 104 Months in Federal Prison and Pay More Than $51.8 Million in Restitution to Victims
OKLAHOMA CITY – RONALD J. MCCORD, 71, of Oklahoma City, was sentenced this morning to serve 104 months in prison for defrauding locally-based banks, Fannie Mae, homeowners, and others through a broad…
Taunton Man Charged with Pandemic Unemployment and Mortgage Fraud
BOSTON – A Taunton man was arrested today in connection with making alleged fraudulent Pandemic Unemployment Assistance (PUA) claims and for making false statements in support of a residential mortgage application. Clark…
Foreclosures Reportedly Spike As Pandemic Mortgage Benefits End
Home foreclosures across the U.S. are starting to spike as COVID-19 pandemic benefits begin to expire, CNBC reported. Private mortgage lenders started the foreclosure process on 25,209 homes in the third quarter…