Mortgage fraud

A 10-year-old fraud case against two San Luis Obispo County, Calif., lenders has ended in a hung jury.

A Kiryas Joel, N.Y., man was sentenced to 18 months in prison and ordered to forfeit $1.2 million to federal authorities for his role in a mortgage-fraud operation in which prosecutors had charged 15 people in all.

Closing mortgages more quickly could introduce efficiencies but it also could introduce fraud risks if done without strong identity verification procedures in place, LexisNexis Risk Solutions finds.

A real estate agent allegedly duped two home buyers into thinking they had purchased a Boynton Beach, Fla., residence but instead pocketed their down payment and monthly payments, according to an arrest report.

Trump officials have made clear their intent to reexamine how Federal Housing Administration lenders are cited under the False Claims Act, but whether that means lenders can rest easier is an open question.

Marco Laureti owned several real estate and mortgage businesses, a real estate license, a mortgage broker's license and a house on San Marino.

Three real estate investors illegally pushed down prices in Palm Beach County, Fla., foreclosure auctions, federal prosecutors say.

The HUD secretary’s comment that such use of the False Claims Act was “ridiculous” may delight the mortgage industry but does not bode well for taxpayers or the federal government’s future fraud enforcement efforts.

Connecticut was the lone state in the nation in September to see a decline in borrowers misrepresenting facts on mortgage loan applications.

Hurricanes Harvey and Irma were responsible for an increase in loan application defects during September in Texas and Florida, according to First American Financial Corp.