Former Newspaper Publisher, Mortgage Broker, Mortgage Lender and Real Estate Agent Convicted in $20 Million Mortgage Fraud Scheme

A mortgage lender cannot reward a real estate agent for sending business to that mortgage lender. Whereas a mortgage broker, for example, might have access to larger Your real estate agent wants your transaction to close smoothly, without hiccups or surprises, and one of the biggest.

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James Thornton, Arizona, a real estate agent, was found guilty of Fraudulent Schemes and Theft after defrauding two banks in a short sale home scam. In the course of his fraud scheme, Thornton made false statements and misrepresentations to bank representatives, potential buyers, and other real.

Last week U.S. district court judge ann Aiken sentenced Peter Wilkinson and six others for their roles in a $7 million mortgage fraud scheme. Wilkinson, 43, of Eugene, Oregon, received the largest sentence: 57 months in prison and five years of supervised release.

Members of the "Sweet Deal" Ring-mortgage brokers, real estate brokers, bank employees, attorneys, an appraiser, a financial consultant They kept the proceeds from the second mortgage, walking away with more than $361,000 in total, Rice said. "They realized they can make more money.

Mortgage fraud has become more prevalent over time and is a particular concern during an economic recession. Upheaval in housing markets, homeowners The FBI defines mortgage fraud as "any material misstatement, misrepresentation or omission relied upon by an underwriter or lender to fund.

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Federal agents say they have dismantled the largest mortgage-fraud conspiracy in state history by indicting seven people on charges they bilked Two others indicted are Camie Byron, 32, a Federal Way mortgage broker and former employee of Kobay and Nationwide; and Sandra Thorpe, 55, a.

In 2006, he reached the goal of making it into a real business with an office and employees. The business has reached $25 million in sales and has over 35 team members and 2 million active members.

A federal jury Monday convicted a real estate professional in a $20 million mortgage fraud Laureti was a mortgage broker, lender, real estate agent and miami newspaper publisher, according He was a licensed Florida real estate agent and former licensed mortgage broker who owned several.

A federal judge hammered a former mortgage broker and his ex-wife Friday for orchestrating a fraud scheme in Las Vegas that caused banks to lose more than $52 million. Federal prosecutors said the five-year conspiracy caused lending institutions to make $107 million worth of mortgage loans on.