Compliance

Technology provider DataVerify has enhanced its enterprise-wide fraud management platform, DRIVE, to help mortgage lenders identify and avoid potential short sale and property flipping losses.

Visitors to the Grapevine discussion board talk about the "fine print" involved in certain contracts and what the future might look like for those lenders doing hard money loans.…

It’s good news for the state of Arizona. Attorney General Terry Goddard has been awarded a $1.7 million grant from the U.S. Office of Justice Programs to fight mortgage fraud in his state.

The owner of a title company in Red Bank, N.J., pleaded guilty to stealing $3.8 million in loan proceeds intended for payment of mortgage balances and other closing costs.

As you think of the suspense-filled spy movies in which the hero must defuse a bomb to save the city, you can hear the familiar “tick, tick, tick” of the bomb’s time clock. With ninja-like precision the hero cuts the yellow wire, or maybe the red wire, just in time to stop the clock, neutralize the bomb, and save the day.

Countrywide Financial Corp. founder and former chief executive Angelo Mozilo must face trial on regulators' claims he misled investors about risks tied to subprime lending, a judge ruled.

Adult child loses home to foreclosure and bankruptcy. Now lives in a fine home a month later? It is possible with an FHA loan. Adult parent over 62 can take out a reverse mortgage to purchase a home in parent name only. Adult child with family can move in and live with parent as long as parent is only one on reverse mortgage loan. It could happen.

MERSCORP, Inc. has added a new certified vendor of digital certificates for identification and signatures to its website.

A bankruptcy judge has approved a settlement between the Federal Deposit Insurance Corp. and the now-defunct Taylor Bean & Whitaker over the ownership of more than $1 billion in disputed loans and mortgage-related assets.

Rhode Island enjoys a "really good" success rate when it comes to saving the homes of troubled borrowers, according to housing counselors speaking at the New England Mortgage Bankers Conference in Providence.

CoreLogic and Blueberry Systems have formed a partnership to offer fraud prevention technology to lenders and servicers.

FACTS On August 30, 2010 JOSEPH ANTHONY VELTRE, 68, of Orange, Calif., was sentenced to 18 years in prison after pleading guilty to stealing more than $2.6 million from investors in a Ponzi and real estate fraud scheme. He preyed on mostly elderly investors, soliciting their money for borrowers seeking funds from non-bank lenders.

Grapevine users discuss the repercussions of the Home Valuation Code of Conduct rules. One reader is encouraging others to sign a petition to reverse HVCC because, he says, "it is bad for the market."

Giuseppe Cracchiolo, 60 of Romeo, Mich., pleaded guilty before U.S. District Judge Paul D. Borman to “a federal information” that charges him with conspiracy to commit wire fraud.

A 10-count federal indictment unsealed in Salt Lake City charges Christopher D. Hales, 29, of Midvale, with mail, wire and bank fraud and with money laundering in connection with an alleged mortgage fraud scheme.

The HUD Inspector General's office, in a new report, slams Webster Bank, Waterbury, Conn., for some of its FHA underwriting practices, saying the deficiencies could cost the government insurer upwards of $500,000 on six loans.

Steve Archambault, Democratic candidate for Attorney General recently unveiled a six point plan to combat mortgage fraud and protect Rhode Island consumers.

Once upon a time there was a rug merchant who saw that his most beautiful carpet had a large bump in its center. He stepped on the bump to flatten it out—and succeeded. But the bump reappeared in a new spot not far away.

Texas attorney general Greg Abbott has charged Coppell-based American Home Mortgage Servicing Inc., the nation's largest independent subprime servicer, with allegedly using illegal debt collection tactics and improperly misleading struggling homeowners.

A cease-and-desist order has been issued by the Georgia Department of Banking and Finance to The Pinnacle Division LLC, formerly known as MMS Holdings LLC, and doing business as The Sly Team and www.theslyteam.com, located in Atlanta.