Real estate investor gets 7 years in $15M mortgage fraud scheme

A Simi Valley grandmother who lost her life savings in a real estate investment scam offered by an insurance agent was awarded more than $15 million Wednesday in a lawsuit against MetLife and two.

Mortgage broker told client to invest in Ponzi: regulator · Man used. B.C. geologist charged with fraud in gold-mining scam · B.C. investors lose $15M in Ponzi scheme. Ronald Conn was handed a 15-year ban from trading in 1997 for his. Whale watcher gets up close and personal with humpback whale.

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Real Estate Investor Sentenced in Mortgage Fraud Scheme. Memphis, TN – A Memphis real estate investor has been sentenced to 30 months in federal prison for his role in a scheme to fraudulently obtain mortgage loans. Lawrence J. Laurenzi, Acting U.S. Attorney, announced the sentence today. An indictment returned last September by.

MBA: Lenders need to cooperate with Congress As Congress investigates Russian meddling in the 2016 election, it has some little-used powers to force uncooperative witnesses to talk. Can Congress Jail Witnesses Who Refuse to Cooperate? SubscribeDecline in home prices to continue to 2011: Clear Capital Case-Shiller Home Price index: composite 20 Chart. month of slight declines in national home prices on a month-over-month basis.. Furthermore, data released Monday from real estate valuation firm Clear Capital – which is more. buyers to drive prices up 31.8% from the bottom of the market in 2011.

Real estate fraud is a category of california criminal fraud. california real estate fraud laws cover fraud that occurs in connection with. Mortgages on real estate ("mortgage fraud"), Foreclosures on homes or other real estate ("foreclosure fraud"), Rental property (through the crime of "rent skimming"), Deeds to real estate, and

Servicers begin using HAMP for AG settlement relief Fannie Mae’s Alt-A Pain May Extend to BofA Determining Eligibility for a Fannie Mae Cap and Extend Modification for Disaster Relief The servicer must not require a complete BRP to evaluate the borrower for a Fannie Mae Cap and Extend Modification for Disaster Relief and is not required to have previously solicited the borrower for a workout option prior to offering a Fannie Mae Cap and Extend Modification for Disaster Relief.After many months of negotiation, 49 state attorneys general and the federal government have reached agreement on a historic joint state-federal settlement with the country’s five largest loan servicers: Ally/GMAC Bank of America Citi JPMorgan Chase Wells Fargo This bipartisan settlement will provide as much as $25 billion in: Relief to distressed borrowers in the [.]HUD: Robo-signing settlement to accelerate principal reductions RealtyTrac reports foreclosure filings rise 3% in January A total of 186,455 foreclosures filings were made in the United States during the month of October, according to real estate tracking firm realtytrac. That number represents a rise of 3% month.Under the settlement, Ocwen agreed to $2 billion in first-lien principal reduction, and $125 million for cash payments to borrowers on nearly 185,000 foreclosed loans.

1600 investors in Diamond Mortgage Company and A. having a debt of US$450 million. The owner, Ioan Stoica, was sentenced in 1995 by the Cluj Court to a total of seven years in prison for fraud, Utah plead guilty to operating an elaborate real estate investing Ponzi scheme, believed to be the largest in Utah’s history with losses of.

A former colorado real estate agent has been sentenced to five years in prison for orchestrating a multimillion-dollar mortgage fraud scheme, but is free on bond pending an appeal.

Local Women Indicted For Identity Theft: Scheme Could Affect Thousands. Broken Trust, a nationwide effort to target investment fraud schemes..read full article.. out of thousands of dollars by claiming she was a realtor and mortgage broker..read full article.. MO man gets 12-plus years in mortgage fraud case.

Real estate investor gets 7 years in $15M mortgage fraud scheme California AG announces arrests in real estate investor scheme Trey Garrison was a Senior Financial Reporter for HousingWire.com.