Mortgage Fraud

Comment on Sentencing of Kristen Ayala

March 15, 2017 | 3:13 PM PST

Mortgage Fraud Blog.

A recent comment from Brandon on the blog post Mortgage Mod Case Results in 10+ Year Sentences stated: “Couple of small pawns in a much larger game.kristen is a 32 year old first time,non violent offender mother of three.sentanced to over 12 years.not sure how these so called heros sleep at night .Wake The @%*&  Up […]

The post Comment on Sentencing of Kristen Ayala appeared first on Mortgage Fraud Blog.

read more

California Mortgage Elimination Scheme Eliminated

March 14, 2017 | 3:28 PM PST

Mortgage Fraud Blog.

Martin Calzada, 29, Norwalk, California was found guilty by a federal jury after a four-day trial, of one count of conspiracy to commit mail fraud and eight counts of mail fraud affecting a financial institution. According to evidence presented at trial, Calzada conspired to defraud homeowners facing foreclosure. Calzada and other employees of Star Reliable Mortgage, which […]

The post California Mortgage Elimination Scheme Eliminated appeared first on Mortgage Fraud Blog.

read more

Jury Finds Bank President Guilty of Fraud

March 14, 2017 | 3:25 PM PST

Mortgage Fraud Blog.

Anthony J. Atkins, 51, Eufaula, Alabama, was convicted by a Federal Jury after a 5-day trial, of conspiracy to commit bank fraud, four counts of false statements to a federally insured financial institution, bank fraud, and mail fraud affecting a financial institution. Co-conspirator Bruce A. Houle, 57, Inlet Beach, Florida, pled guilty to conspiracy to […]

The post Jury Finds Bank President Guilty of Fraud appeared first on Mortgage Fraud Blog.

read more

Title Agent and Conspirator Plead Guilty in Florida Mortgage Fraud

March 14, 2017 | 3:19 PM PST

Mortgage Fraud Blog.

Michelle Cabrera, 48, Miami Lakes, Florida, and Pedro Melian, 39, Hialeah, Florida, pled guilty to one count of conspiracy to commit wire fraud related to their participation in a $10 million Florida mortgage fraud scheme. At sentencing, each defendant faces up to thirty years’ imprisonment. Marco Laureti, 45, Sunny Isles Beach, Florida, and Felix Mostelac, 44, Miami Beach, […]

The post Title Agent and Conspirator Plead Guilty in Florida Mortgage Fraud appeared first on Mortgage Fraud Blog.

read more

Real Estate Company Owner Accused of Defrauding 40 Families

March 13, 2017 | 3:58 PM PST

Mortgage Fraud Blog.

Francisco Aguirre, aka Francisco X Aguirre-Proano, aka Francisco Xavier Aguirre aka Francisco Xavier Aguirre-Proano was indicted by an Arizona State Grand Jury for allegedly stealing $300,000 to $500,000 from 40 families in Arizona. Aguirre is facing felony charges of Conspiracy, Fraudulent Schemes and Artifices, Money Laundering, Illegally Conducting an Enterprise, Mortgage Fraud, Theft, and Forgery From 2013 to 2015, […]

The post Real Estate Company Owner Accused of Defrauding 40 Families appeared first on Mortgage Fraud Blog.

read more

New Mortgage Activity Slows

March 24, 2017 | 5:12 PM PST

With jumbo loans and adjustable-rate mortgages leading the way, new business retreated on a week-over-week basis. But activity moved higher from a year ago.

The Mortgage Daily U.S. Mortgage Market Index, a measure of average per-user rate locks by clients of OpenClose, was 168 in the week ended March 24.

Business slowed by 10 percent from the previous week based on the index, an indication of upcoming originations. There are no adjustments for seasonal variations.


read more

Mortgage App Risk Rises, ARMs Could Drive Higher

March 24, 2017 | 3:47 PM PST

The level of risk on overall applications for residential loans moved higher for the third consecutive month and could rise even further as adjustable-rate share rises.

An estimate of the frequency of defects, fraud and misrepresentation of information submitted on mortgage applications, the Loan Application Index, was 76 in February.

The index worsened compared to the prior month, when it was previously reported at 73. The index has risen each month since November 2016, when it was 68.


read more

Mortgage Banker CEO Sentenced to Prison

March 24, 2017 | 12:47 PM PST

The former owner and chief of a New York mortgage banker has been sentenced to more than a dozen years in prison for selling fraudulent loans on the secondary market.

Aaron Wider was the owner and chief executive officer of HTFC Corp. The Garden City, New York-based organization was licensed as a mortgage bank.

HTFC funded residential loans that it originated by utilizing warehouse lenders. After the mortgages were funded, each of the loans were sold on the secondary market.


read more

Mortgage Business Acquisitions Negotiated, Done

March 24, 2017 | 11:15 AM PST

Recently announced mortgage-related mergers and acquisitions include a deal with alleged conflicts of interest. A new report highlights factors that will maximize value for sellers.

A report from Stratmor Group indicates that the number of motivated, well-capitalized prospective buyers of retail origination platforms exceeds the number of sellers.

"The challenge for prospective sellers is not just attracting a buyer, but aligning with the right buyer to optimize the sale execution of their company," Stratmor's report states.


read more

Bank Mortgage Delinquency Up, Foreclosures Down

March 24, 2017 | 9:35 AM PST

Although the quarterly non-current rate of residential loans serviced by banks worsened, foreclosures started and completed fell as did the foreclosure rate.

Loans that were at least 30 days past due or in the foreclosure process represented 5.3 percent of all loans serviced by the banks as of the fourth-quarter 2016.

The non-current mortgage rate deteriorated from 5.2 percent compared to three months earlier. But the rate improved versus 5.9 percent a year earlier.


read more

 

Pin It on Pinterest

Share This