The president and founder of a now-defunct Massachusetts-based mortgage company was charged with defrauding Ginnie Mae to the tune of $3 million.

The scheme is used by borrowers who don't have enough income to qualify for a regular mortgage, so they apply for a higher rate non-owner-occupied loan.

As the mortgage industry swings more toward purchase loans and away from refinancings, its risk from material misrepresentations increases.

The stock price of CBL & Associates Properties Inc. sank 13% in early trading after a published report said the U.S. retail landlord is being investigated for accounting fraud.

Lenders that sell both forward and reverse mortgages must carefully consider how their products are offered to older borrowers to avoid confusion that could lead to accusations of financial abuse.

Misrepresentations on mortgage applications have inched up nationwide for the first time since July, thanks in part to trends in the energy and agricultural sectors which are creating pressure in the South, according to First American Financial Corp.

As the war for talent heats up and lenders face tougher decisions in recruiting and hiring loan officers, the need to deploy certain tactics might seem appealing, but will ultimately create more problems than they are worth.

Two St. Louis-area investors have been indicted on charges they defrauded the failed Excel Bank on real estate loans.

The co-owner of a mortgage company responsible for a large-scale fraud scheme was sentenced to 21 months in prison in a Newark, N.J., federal court.

The number of misrepresentations in mortgage applications continued to decline in February, benefiting from lenders' increased spending on compliance, said First American Financial Corp.

The scammers pocketed $3.8 million from troubled homeowners nationwide and did nothing to modify their loans.

A jury awarded Mount Olympus Mortgage Co. more than $25 million in a lawsuit alleging "corporate espionage" by former employee Benjamin Anderson and his new employer, Guaranteed Rate.

A New Jersey man has been sentenced to six years in prison for running a scam that victimized distressed homeowners and private investors.