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Entries in mortgage fraud (10)

Friday
Apr132012

U.S. Tests Rare Legal Path In Financial Crisis Cases

Task force probing packaging and sale of mortgages

Reuters

An Obama administration task force established to investigate misconduct that fueled the financial crisis is turning to a little-used statute that may make such cases easier to bring, according to people familiar with the matter.

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Thursday
Feb092012

Largest Joint Federal-State Civil Fraud Settlement in History Reached

Landmark settlement announced on foreclosure, mortgage fraud

The Washington Post

State and federal officials on Thursday announced a settlement of more than $25 billion with five of the nation’s banks over their flawed and fraudulent foreclosure practices. It is the largest government-industry settlement in more than a decade.

Read the full article here.

Thursday
Sep292011

What the Hells?

Hells Angels mortgage fraud racket charged with defrauding banks out of millions

The Huffington Post

When the Hells Angels cultivate their infamous outlaw image, mortgage fraud is usually not the type of law-breaking that comes to mind.

Read the full article here.

Thursday
Jul072011

Fraudulent Inflation

Feds say the newest mortgage fraud is reverse mortgage fraud

The Palm Beach Post

In a $2.6 million scam, three Palm Beach County men used bogus appraisals to take out reverse mortgages on behalf of unwitting borrowers, federal prosecutors said Wednesday.

Read the full article here.

Wednesday
Jun292011

Day of Reckoning

Bank of America in $8.5 billion settlement

CNNMoney

In the biggest reckoning of the 2008 financial crisis, Bank of America said Wednesday it will pay $8.5 billion to investors burned by fraudulent mortgage securities.

Read the full article here.

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