Mortgage fraud

An Idaho court has ruled against a Treasure Valley resident for his role in a Ponzi scheme that bilked millions from real estate investors.

A federal grand jury indicted Ronald J. McCord, 69, of Oklahoma City, on charges of defrauding two banks, Fannie Mae, and others of millions of dollars, money laundering, and making a false statement to a financial institution, said Timothy J. Downing, U.S. attorney for the Western District of Oklahoma.

From what it takes to accommodate remote notarization to figuring out how to process an influx of forbearance requests through limited communication channels, here are five takeaways from coronavirus-related work restrictions.

Less competition in the marketplace meant customers were less apt to fudge the truth on a loan application.

A Rapid City, S.D., real estate agent must serve more than a year in prison and pay $124,645 in restitution after pleading guilty to tax evasion.

Fidelity National Financial, the nation's largest title insurance underwriter, added a new digital title insurance opening package to its WireSafe homebuyer and seller program.

Mortgage loan application defect risk is at the lowest point since First American started tracking this data, strictly as a function of the shift to a refinance market.

The pursuit of a dream home became a nightmare for apartment hunters who were scammed out of tens of thousands of dollars by an agent pushing a phony affordable housing scheme in Brooklyn, N.Y., authorities said.

Mary Doenlen couldn't tell a judge why she stole over $130,000 from her employer. She wasn't in financial straits. She has a daughter, a husband and a sickly father to tend to.

The prevention of wire fraud and cybercrime being perpetrated against the mortgage business is the latest passion for Regina Lowrie, longtime industry executive and the first woman to head up the Mortgage Bankers Association.

Loan application defect risk fell in December after stabilizing the prior month, but it's not dropping as it quickly as it once was, according to First American Financial.

Mortgage foreclosure rescue schemes resulted in the second highest median individual loss to consumers among all types of fraud reported to the Federal Trade Commission in 2019.

A former Fannie Mae employee is facing more than six years in federal prison for participating in a scam involving discount sales of properties owned by the government-sponsored enterprise.

In a case highlighting a fraud risk for mortgage companies and other financial institutions, two Garden State residents were sentenced for using fake money orders attempting to fraudulently discharge debts.

The drop in home buying power heightened the risk of misrepresentations on purchase mortgage loan applications during November, as consumers are more willing to fudge information in an uncertain market, First American Financial said.

The critical defect rate for closed mortgage loans continued its decline in the second quarter, as lenders benefited from increased loan volume and profitability, an Aces Risk Management study found.

A judge dismissed New York's mortgage-fraud case against former Trump campaign chief Paul Manafort, undermining the state's effort to ensure that the jailed political adviser doesn't go free if he’s eventually pardoned for his federal crimes.

Loan defect risk in purchase applications stopped falling and plateaued in October, according to First American Financial Corp.

Stephen Calk, who faces a bribery charge in connection with loans his bank made to former Trump campaign chair Paul Manafort, is asking a judge to suppress evidence that prosecutors obtained from his mobile phone.

A developer who swindled almost $400,000 from six families who sought new homes in Kirkwood, Mo., was sentenced to 12 months in prison.