Who was arrested in Nevada for mortgage fraud?
Who was arrested in Nevada for mortgage fraud?
Nathanael Zimmerman of Wyckoff has been arrested on charges of engaging in mortgage fraud, fraudulently obtaining a loan, and identity theft. Joseph A. Gonzalez of Henderson, Nevada, has been sentenced to 18 months in prison for a mortgage fraud scheme.
How is Appraisal fraud related to mortgage fraud?
Appraisal fraud often involves a real estate agent, builder, appraiser and loan officer working together to maximize a purchase price and loan amount in order to increase their commissions. On the other hand, corrupt appraisers will often undervalue a property to ensure that a fellow investor will be able to purchase the asset.
Who was convicted of wire fraud affecting a financial institution?
Alagi Samba, who was convicted of conspiracy to commit wire and mail fraud affecting a financial institution, was sentenced to time served. Two Houston-area family members have been ordered to federal prison following their convictions of conspiracy, bank fraud, false statements, and other charges.
Who are the people involved in the mortgage fraud?
Michael Henschel of Van Nuys pleaded guilty in a fraud case stemming from a real estate scam that targeted distressed homeowners. Patrick Healey of New Orleans has been sentenced for his role in making false statements to a financial institution.
Who was involved in the mortgage relief scheme?
Anthony T. Williams was sentenced to 240 months’ imprisonment for wire fraud and mail fraud in connection with a fraudulent mortgage relief scheme. Joseph A. Gonzalez admitted his role in a scheme to use bogus information and simultaneous loan applications at multiple banks.
Who was sentenced to 78 months in prison for mortgage fraud?
James Gerard Temme of Plano, Texas, has been sentenced to 78 months in prison and ordered to pay $2,933,667.48 in restitution for wire fraud. Three New Jersey men—a real estate investor, a builder, and a real estate settlement attorney—were charged in a mortgage fraud scheme.
Who was arrested for stealing money from Bank?
Arlando M. Henderson of Charlotte has been arrested by the FBI in San Diego, California, for stealing cash from the vault of the bank where he was employed. Jaime L. Mulvihill, the principal and co-founder of a North Andover mortgage short sale assistance company, pleaded guilty to defrauding mortgage lenders.
Nathanael Zimmerman of Wyckoff has been arrested on charges of engaging in mortgage fraud, fraudulently obtaining a loan, and identity theft. Joseph A. Gonzalez of Henderson, Nevada, has been sentenced to 18 months in prison for a mortgage fraud scheme.
How are mortgage lenders required to report fraud?
Mortgage lenders, including those that are not banks, are required to report any attempted fraud that occurs within their organization. This report, called a Suspicious Activity Report or SAR, is completed by the institution and sent to the Federal Financial Institution Examination Council (FFIEC).
When did identity theft start in mortgage fraud?
Identity theft was characterized as a suspicious activity on 1,761 (2.13%) of the reports of mortgage loan fraud filed from January 1, 2003 to March 31, 2006. Figure 6 shows the increasing incidence of identity theft in conjunction with mortgage loan fraud in the SARs reviewed for this study.
What was the percentage of mortgage loan fraud in 1997?
In 1997, reports of mortgage loan fraud comprised 2.12 percent of total depository institution SAR filings. In 2005, reports of mortgage loan fraud had increased to 4.94 percent of total depository institution filings.
Mortgage lenders, including those that are not banks, are required to report any attempted fraud that occurs within their organization. This report, called a Suspicious Activity Report or SAR, is completed by the institution and sent to the Federal Financial Institution Examination Council (FFIEC).
In 1997, reports of mortgage loan fraud comprised 2.12 percent of total depository institution SAR filings. In 2005, reports of mortgage loan fraud had increased to 4.94 percent of total depository institution filings.
Identity theft was characterized as a suspicious activity on 1,761 (2.13%) of the reports of mortgage loan fraud filed from January 1, 2003 to March 31, 2006. Figure 6 shows the increasing incidence of identity theft in conjunction with mortgage loan fraud in the SARs reviewed for this study.
What is the FBI definition of mortgage fraud?
Since the crisis and collapse in the housing market in 2007 to 2009, prosecutions of mortgage fraud are on rise. The FBI definition of mortgage fraud is “any material misstatement, misrepresentation or omission relied upon by an underwriter or lender to fund, purchase, or insure a loan.”
Who are the defendants in the mortgage fraud?
Dana Q. Roush and Michael Roush of Greenville were sentenced to 17 years in prison for conspiracy to commit mail fraud and equity skimming. Twelve defendants have been charged in a mortgage fraud scheme that spanned more than four years.