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DOJ charges hundreds in mortgage rescue scams

Foreclosure mess scares off homebuyers: Campbell/Inside Mortgage Finance AGs weeks from filing foreclosure settlement documents AGs, Brown launch foreclosure investigation – There have been reports of some lenders using employees to sign off up to one foreclosure per minute. The employees signing off on those documents are supposed to review the file before signing..Brena Swanson.. MBA: New home purchase mortgage apps rise 5%. Home/Real Estate/ MBA: mortgage applications rise again, but how. rose for the week ending May 17, 2019, ongoing trade concerns could be hindering potential growth, according to the mortgage bankers association.. The Federal Housing Administration’s share of mortgage apps fell from.

(Reuters) – Franklin American Mortgage Co agreed to pay $70 million to settle U.S. Department of Justice charges that the Tennessee lender. losses” when the FHA paid insurance claims on hundreds of.

Justice Dept. charges 36 alleged scammers for $530 million cyber-fraud scheme. Prosecutors said the case is "one of the largest cyber fraud enterprise prosecutions ever undertaken" by the Justice.

trustees concerning mortgage fraud schemes, to help them determine whether the debtor had been victimized or was participating in such a scheme. Through our civil and criminal enforcement efforts, the Program has identified three major types of bankruptcy-related mortgage fraud and mortgage rescue schemes: financial

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Attorney General Ellen F. Rosenblum. What the Oregon Department of Justice Does. Under the leadership of Attorney General Ellen F. Rosenblum, the Oregon Department of Justice serves state government and supports safe and healthy communities throughout Oregon by providing essential justice services.

Bait-and-Switch. In a bait-and-switch scam, con artists give you papers they claim you need to sign to get another loan to make your mortgage current. But buried in the stack is a document that surrenders the title to your house to the scammers in exchange for a "rescue" loan.

foreclosure rescue schemes-the Bureau of Consumer Financial Protection (CFPB), DOJ, the Federal Housing Finance Agency (FHFA) and its Office of Inspector General, FTC, HUD and its Office of Inspector General, U.S. Department of the Treasury (Treasury), the Office of the Special Inspector General for the Troubled Asset Relief Program

FHFA assists 3.2 million troubled homeowners homeowners are missing out on $13 billion in savings each year by not refinancing their mortgages. At least 5.2 million homeowners with good credit and equity in their property could save an average of $215 each month. States like California, New York and Hawaii could see the highest savings–all would see monthly savings of

Foreclosure Rescue Scams. It might also be part of a fraudulent bankruptcy filing. Either way, a scammer can then evict the victim and take the home. DON’T pay your mortgage payments to anyone other than your lender or loan servicer. Mortgage consultants often keep the money for themselves.

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 · DOJ Busts Large California Mortgage Fraud Ring. A federal grand jury returned charges in two seperate indictments, totalling nearly 20 counts of mail fraud, money laudering, and related offenses, according to assistant U.S. Attorneys Laura Ferris, Rob Tice-Raskin, and Ellen Endrizzi, who are prosecuting the case.

A yearlong Department of Justice and FBI initiative to protect distressed borrowers from foreclosure rescue scams resulted in charges against 530 accused con artists and the uncovering of $1.

Primed for Trouble: Pace of Mortgage Distress Shifts to Prime Borrowers  · Two sources here include Courchane, Surrette and Zorn (2004) find that 38 percent of subprime borrowers had Fair Isaacs (FIC0) credit scores above 620, a typical cutoff for prime borrowers. The unpublished study was cited in Alan White, Risk-Based Mortgage Pricing: Present and Future Research, Housing Policy Debate 15(2004) 3: pp 503-530.