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Mortgage fraud by borrowers from US Department of the Treasury [7]. Mortgage fraud may be perpetrated by one or more participants in a loan transaction, including the borrower; a loan officer who originates the mortgage; a real estate agent, appraiser, a title or escrow representative or attorney; or by multiple parties as in the example of the fraud ring described above.
All told, the number of mortgage fraud "suspicious activity reports" rose to 70,472 nationwide, a 5 percent increase over 2009. Most of those reports concerned misrepresentation on loan ...
By Rick Rothacker and Aruna Viswanatha The U.S. government filed a civil mortgage fraud lawsuit on Tuesday against Wells Fargo & Co (WFC), the latest legal volley against big banks for their ...
The FBI is reporting that there is an estimated 276% leap in mortgage-related fraud cases over last year. The. There is something about human nature that when times get tough, crooks get more bold ...
The charges of bank fraud conspiracy, bank fraud, and making a false statement to a financial institution are each punishable by a maximum of 30 years in prison and a $1 million fine.
Robers v. United States, 572 U.S. 639 (2014), is a US criminal law case. The United States Supreme Court held in a unanimous decision that restitution in cases involving mortgage fraud is determined by the actual money lent not the value of the property. [1]
Was the financial crisis caused by "systemic failure" or mortgage fraud? Or a combination of the two? And why are so many American homeowners still paying the price? When Travis Paules worked as a ...
[3] [4] In February 2012, Ting commissioned the country’s first real study of mortgage fraud that spurred national action, [5] uncovering "widespread mortgage industry irregularity" in San Francisco foreclosures. [6] Specifically, Ting commissioned an audit of nearly 400 homes in the city that had been foreclosed upon in 2009–2011.