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Homeowners across the U.S. are being targeted in a sophisticated scam in which callers pose as mortgage lenders to defraud people out of hundreds of thousands of dollars, the Federal ...
United States Attorney David Nahmias said, "The negative impact on our neighborhoods of this multimillion dollar fraud scheme extends far beyond the financial loss to the victim lenders. The Phillip Hill mortgage fraud scheme charged in this indictment is the most extensive this office and federal investigative agencies have uncovered to date ...
Mortgage fraud by borrowers from US Department of the Treasury [7]. Mortgage fraud may be perpetrated by one or more participants in a loan transaction, including the borrower; a loan officer who originates the mortgage; a real estate agent, appraiser, a title or escrow representative or attorney; or by multiple parties as in the example of the fraud ring described above.
In addition to the down payment, the final deal of the mortgage includes closing costs which include fees for "points" to lower the interest rate, application fees, credit report fees, attorney fees, title insurance, appraisal fees, inspection fees, underwriting fee and other possible miscellaneous fees. [5]
Rocket Mortgage, the nation’s largest retail mortgage lender, has filed a lawsuit against the federal government seeking dismissal of a claim that the lender retaliated against a Black woman who ...
The Federal Trade Commission has mailed refund checks to 1,410 consumers swindled by Home Assure LLC, a mortgage relief scam that charged consumers an upfront fee to save their homes from ...
New York v. Trump is a civil investigation and lawsuit by the office of the New York Attorney General (AG) alleging that individuals and business entities within the Trump Organization engaged in financial fraud by presenting vastly disparate property values to potential lenders and tax officials, in violation of New York Executive Law § 63(12).
A home with a low appraisal represents a higher risk for the lender because you could end up underwater on the new mortgage. If you get a low appraisal, there are a few things you can do. First ...