Anthony Affatati of Parkland, Florida, pleaded guilty to charges related to two separate fraud schemes, one of them a multi-million dollar mortgage fraud scheme. According to documents filed with the court and statements made during the plea, Affatati became involved in mortgage fraud and purchased his Parkland home through a straw buyer who provided false financial information to the mortgage lender to secure the loan on Affatati's behalf. In a separate case, Affatati also pleaded guilty to conspiracy to sell fraudulent securities to the public. Sentencing has been set for Jan. 8, 2009.
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Attom's data adds to signs that the market's loan performance buffer is solid but thinning in some areas, and shows the trend affects both ends of the market.
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National Mortgage News is now accepting nominations for its annual Best Mortgage Companies to Work For program.
August 19 -
The new 47-page filing abandons the Racketeer Influenced and Corrupt Organizations Act allegations brought up in the previous 100-plus-page document.
August 19 -
The company is the third mortgage lender in recent months to start or reestablish its business sourcing loans from brokers, with one potential entrant to come.
August 19 -
The ex-CEO began a formal solicitation of shareholders after blaming his initial claims of majority support on information provided by in-house counsel.
August 19 -
As tech facilities push into lower income and rural housing markets, lenders navigate local growth without major impacts on home sales price trends.
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