Five people, feeling they were victims of a loan modification scheme, allegedly took matters into their own hands and as a result, they themselves have been charged with a crime. Daniel Weston of La Cañada, Calif., and Gustavo Canez of Los Angeles, were charged with two counts of torture, two counts of false imprisonment by violence and two counts of second-degree robbery in connection with the beating and torture of the two loan modification agents. Three others were arraigned and pleaded not guilty. Mario Soloman Gonzales of Glendale, Marissa Parker of Sylmar, and Mary Ann Parmelee of La Cañada, were each charged with two counts of torture, two counts of false imprisonment by violence and two counts of second-degree robbery. According to Los Angeles County deputy district attorney Norma Serna, Mr. Weston and Ms. Parmelee, who live in a house in foreclosure, allegedly sought loan mod assistance from the victims but believed that nothing was being done and wanted their money back. The defendants, including Mr. Gonzales and Ms. Parker, purportedly set up a meeting with the victims, where Mr. Weston and Mr. Canez allegedly attacked, detained and tortured them in front of the other defendants. Mr. Canez and Mr. Weston allegedly used a handgun. The victims also were allegedly robbed of their loan paperwork and personal belongings. Mr. Gonzales, Ms. Parker and Ms. Parmelee, a Realtor, had a business relationship with the victims and allegedly funneled loan mod referrals to the two agents. Bail was recommended at $2.1 million for Mr. Weston and $2.8 million for Mr. Canez. Mr. Gonzales, Ms. Parker and Ms. Parmelee are due at Burbank Superior Court on Nov. 2 for a preliminary hearing. The defendants could not be reached for comment.
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A tour of the technology that banking has run on, dating back to Franklin's anti-counterfeit measures and the bank-note bulletin that preceded American Banker.
July 3 -
Issuances of new HECM-backed securities dropped off in June on both a monthly and yearly basis, according to a new report from New View Advisors.
July 2 -
The vote to approve the $12 per share deal, which rejected a hostile bid from UWM Holdings, came following several postponements of a special meeting.
July 2 -
A mortgage customer claims his data was compromised in a hack last year at a tax and accounting firm reportedly used by the wholesale giant.
July 2 -
The government-sponsored enterprise clamped down on project review requirements and certain factory-built home appraisals while loosening other guidelines.
July 2 -
The June jobs report is creating an overhang on economist forecasts for interest rates going forward, especially when combined with recent inflation data.
July 2









