By Kevin Chiu Mortgage loan fraud has declined 25% since its peak in 2007, according to a survey conducted by Core Logic, a real estate research firm that monitors more than 3,000 local U.S. housing markets. The study was released on the heels of the largest Justice Department crackdown in history on perpetrators of mortgage… Continue reading Mortgage Loan Fraud Declines
Category: Mortgage Fraud
Bank of America Charged in Home Loan Scheme
By Kevin Chiu A massive class action lawsuit has been filed against Bank of America by the Texas Housing Justice League, representing 15 mortgage holders charging the nation’s biggest bank with “a systematic home loan servicing scheme.” The lawsuit by the Texas Housing Justice League (THJL), a nonprofit may eventually involve thousands of Texas mortgage… Continue reading Bank of America Charged in Home Loan Scheme
Mortgage Fraud Crackdown Charges Record 1200 Perpetrators
By Mike Colpitts The U.S. Justice Department has charged more than 1,200 perpetrators with mortgage fraud in a major nationwide crackdown involving more than $2.3-billion in losses, stemming from the real estate collapse leading to the foreclosure crisis. The sweep represents the largest crackdown yet by law enforcement against perpetrators of white collar crime in… Continue reading Mortgage Fraud Crackdown Charges Record 1200 Perpetrators
Dirty Money Sealed Dodd’s Fate
By Kevin Chiu Embattled U.S. Senator Chris Dodd, the chairman of the senate banking committee, released his financial reform package at a press conference and it appears it will be one of the last significant actions the Congressmen will be making in Washington, D.C. Dodd, who announced late last year he will not be seeking… Continue reading Dirty Money Sealed Dodd’s Fate