Straw Buyers of Condos Targeted for $8.8 Million Mortgage Fraud by U.S. Attorney – 5 Comments Politician Not on 05/03/2012 at 1:45 pm said: "Ahmed and Higueros allegedly referred the straw buyers to licensed loan officers, including co-defendants Razzak Khader, 33, of Morton Grove, and Theodore Cardenas, 42, of Westmont, to arrange for the.
Company Spotlight: ClosingCorp Sen. Warren is right: Blacks and Hispanics were targeted by subprime policy At the same time, levels of Hispanic segregation have been rising, a ready demand for unscrupulous brokers to exploit (Sullivan, Warren, and Westbrook 2000).. blacks who borrowed in 2006 were just as likely to receive prime as.. The rise of racially targeted subprime lending served to destabilize.ClosingCorp, an independent real estate information services company based in La Jolla, CA, owns and operates Closing.com, the most comprehensive source for real estate closing services on the Web. The site empowers consumers and real estate professionals to shop, compare and evaluate real estate closing services in their area.
· SEVEN DEFENDANTS INDICTED IN ALLEGED $8.8 MILLION MORTGAGE FRAUD SCHEME INVOLVING 35 CONDOMINIUM LOANS IN CHICAGO. The indictment alleges that most of the mortgages were obtained to finance the purchase of condominium units in a building located at 4725 South Michigan Ave., Chicago, by straw buyers, including a Chicago police officer, John Welch, and.
RealtyTrac: Foreclosure activity rising in 2013 Nationstar doubles profit as servicing becomes more profitable Let the C.P. be x and the S.P. be y So the profit = ( y – x) Now, When S.P. is doubled New S.P. = 2y The new profit = (2y – x) Given that when S.P. is doubled, profit increases 3 times New profit = 3 X old profit (2y – x) = 3(y – x) y = 2x So Prof.Foreclosure starts increased 23.36% from October and 54.6% from November 2013, but overall foreclosure activity declined 18.25% month over month and increased just 2.01% from last year in Indiana.
Florida developer Domenic Rabuffo was sentenced Tuesday to more than 27 years in federal prison for a North Carolina mortgage fraud scheme that bilked four major banks out of more than $50 million.
This MBA homebuilder chart shows exactly what a sawtoothed recovery looks like 2018 HW Insiders: Aravinda Gollapudi Tech bubble vs. housing bubble Computer Science Demand Is Soaring Due To Tech Bubble 2.0 – For the past several years, I’ve been warning that the tech startup boom (and the surge of interest in "coding") is actually a dangerous bubble that is driven by the U.S. Federal Reserve’s ultra-loose.Nandeesh Swami is on Facebook. Join Facebook to connect with Nandeesh Swami and others you may know. Facebook gives people the power to share and makes.I’ve long said that at this point in the cycle higher rates would be beneficial to the overall economy. Housing is being held back by the low rates and lending would expand if rates rose (note: this is not an instantaneous process). The MBA’s "mortgage availability" index seems to back that view.
Moneta woman pleads guilty in $11 million bank fraud case. much higher prices to straw buyers – purchasers brought in to further her scheme.. involved in the scheme, though indictments in.
Penalties, punishment and sentencing for straw buyer schemes. The punishment for a misdemeanor conviction is typically up to a year in a county jail and a maximum $1,000 fine. The punishment for a felony violation is typically up to three years in the California state prison and a maximum fine of $10,000.
7 cities not foreign to the words twister, cyclone, tornado Fannie Mae names winner of second Community Impact Pool of NPLs Fannie Lou Hamer (1917-1977), field secretary of the Student Nonviolent Coordinating Committee, was an outspoken advocate for civil rights for African Americans. For more than half of Fannie Lou Hamer’s life, she was a rural agricultural worker who saw no end to the cycle of poverty and humiliation that was the plight of most southern African.A tornado, illuminated by light from the setting sun, narrowly misses a small Woman and tornado. woman walks towards a tornado and bright sunset Tornado. A tornado destroys a field near several houses, making fly away a truck and car, as a flying object impacts on high voltage cables tornado in central Nebraska. This supercell thunderstorm produces a funnel cloud and soon to be tornado.
· SPRINGFIELD, MO-Beth Phillips, united states attorney for the Western District of Missouri announced today that a Springfield, Missouri man was sentenced for his role in a nearly $4 million fraud scheme.
James John Armenakis. Alleged signature rip off: When attorney Armenakis failed to appear at the closing for a $7.35 million condo at 285 Lafayette Street, the seller suspected he had made off with the deposit. Outcome: Armenakis, who was indicted last month, awaits trial.
A mortgage fraud investigation lead to the indictment of nine people last week. The defendants are charged with buying at least 19 homes in connection to bank and mortgage fraud, said Lauren Horwood, spokesperson for the U.S. Attorney’s Office, Eastern District of California.
FHLB Des Moines, FHLB Seattle finalize merger DES MOINES – The boards of directors of the Federal Home Loan Banks of Des Moines and Seattle, Wash., have unanimously approved a merger of the institutions. The merger also will require approval from.
Ahmed Tariq Asghari, 32, of Sherman Oaks; Kenneth Moore, 49, of Tustin; and Atiqullah Nabizada, 29, of Coto de Caza have been indicted for running a short sale fraud operation that may have defrauded the victims of as much as $10 million.
Auction.com improves foreclosure outcomes for lenders and servicers CFPB targets zombie foreclosures Live Well Financial’s abrupt closing leads to host of problems Live Well Financial – YouTube – Live Well Financial is a seasoned veteran in the mortgage industry. started in 2005, Live Well Financial has extended its footprint across the country from its corporate headquarters in Richmond, VA.CFPB Hunting Zombie Foreclosures – fnlawfirm.com – The Consumer financial protection bureau has turned its attention to "zombie" foreclosures, as reported by Reuters. A zombie foreclosure occurs when a bank begins a foreclosure, but then abandons the process without informing the homeowner. In most cases the zombie foreclosure is stopped by the bank after the homeowner has moved out of the.Bank of America to cut hundreds of legacy servicing staff Bank of America Lays Off 250 Mortgage Staffers: Report. – Bank of America’s legacy asset servicing division initiates foreclosure proceedings and deals with investors who want to buy back troubled mortgages. But with fewer individuals now at risk of facing foreclosure, the $1.5 trillion-asset company has been trimming staff. Last summer, Bank of America cut 540 mortgage jobs from its LAS division.2019 HW Tech100 winner: Baseline Reverse Spending growth pick Q2 Mae: Consumer Fannie. – Home / Daily Dose / Fannie Mae Projects a Familiar Story for Q2. spending growth will pick up this quarter. Fannie projects personal consumption expenditures to rise from 0.3 percent in Q1 to 3. "The economy appears poised to finish 2017 on a cheerful note as fundamentals increasingly align with strong business and consumer sentiment.During the foreclosure crisis. The CFPB has forced mortgage servicers to improve their operations; it’s stopped lenders from engaging in abusive and predatory practices, and by working with the Los.