Facts About Bad Mortgage Loans

How significant a risk is noncompliance with consumer protection laws?

The mortgage industry is struggling to comply with consumer protection laws. A remarkable report published by the FDIC Office of the Inspector General reveals that during 2005 (which was the peak year of the mortgage boom measured by number of loans originated), 83% of federally supervised banks that made loans were cited for patterns of "significant compliance violations." The percentage was presumably higher for state-licensed, non-depository lenders who were responsible for originating 52% of subprime mortgages and are subject to a much broader patchwork of state regulation. Violations of consumer protection laws can result in rescission (effectively canceling the loan), defense against foreclosure, fines, penalties and (both civil and criminal) damages that can exceed the original principal balance of the loan.

You may download the report (Report Number 06-024) from the FDIC website. There are also additional reputational risks associated with charges of predatory and discriminatory lending. Investors - including anyone in the chain of title for whole loans and the securitization trust for securities - can be liable, even though the violator waste broker or originating lender. In other words, the investor can be held liable and suffer damages for actions outside its control and for which had no knowledge. What consumer protection laws does FRAUD STOPPERS PMA cover and how are these compliance requirements applied to a mortgage loan?

FRAUD STOPPERS PMA provides a comprehensive analyzes of electronic loan data to determine whether a mortgage transaction complies with over 300 federal and state consumer protection laws related to mortgage lending. Specifically, FRAUD STOPPERS PMA automated mortgage compliance audits reviews mortgage loans for compliance with the following consumer credit issues: truth-in-lending disclosures, usury, predatory lending, impermissible fees, interest rate accrual restrictions (such as negative amortization and balloons payments) and prepayment penalty enforceability.

It is important to understand that any number of laws may apply to a particular mortgage transaction. Knowing which laws apply is not a simple task, since it depends on how the lender is licensed or chartered. Licensed lenders operate under the licensing authorities of the various states with which they do business. Most states have multiple licenses granting lenders the authority to make loans. Each such license imposes different substantive requirements governing loan terms. For instance, certain licenses allow subordinate lien loans while others govern loans with higher interest rates.

In some states, more than one license may authorize lenders to make the same loan, although subtle differences in the consumer protection requirements apply to the loan terms. FRAUD STOPPERS PMA determines if lenders and brokers are properly licensed (and in good standing) or exempt, and then applies the correct laws based on that licensing status. It does this by leveraging its proprietary nationwide licensing database, described in the License Verification and Monitoring section of this site.

Chartered financial institutions—such as state and national banks and federal savings banks—are subject to different regulatory requirements. For instance, most chartered institutions “export” interest rates from their home state to the target state in which the loan is made. This results in a complex synthesis of both the home state’s and target state’s consumer protection laws —an analysis that is difficult to perform efficiently without automation. Likewise, chartered institutions may in certain cases preempt states laws and in other instances must observe them. Again, FRAUD STOPPERS PMA bases its reviews on how an institution is chartered and what permissible regulatory elections it is making.

Once the lender’s license or charter authority is known, as well as its elections, the review must consider the specific transaction terms—such as the APR, interest rate, loan balance, lien position, occupancy type, etc.—to determine which out of the several laws that might apply to the lender govern a particular mortgage loan. No other automated compliance solution provides this degree of detail and precision to its analysis, and this is the reason no other provider equals FRAUD STOPPERS PMA in quality.



Foreclosure Daily News Update ⋅ April 8, 2022


They faced foreclosure not from their mortgage lender, but from their HOA – Rocky Mountain PBS

Rocky Mountain PBS

“I had no idea that an HOA could foreclose on you”. Under state law, HOAs can initiate foreclosure proceedings against homeowners who owe money to …




They Faced Foreclosure Not From Their Mortgage Lender, but From Their HOA — ProPublica


At the start of the COVID-19 pandemic, state and federal governments issued moratoriums on most foreclosures by banks and mortgage lenders, prompting …




Two-tower downtown Denver office complex going through foreclosure

The Denver Post

A two-tower office complex in downtown Denver that saw occupancy dwindle prior to the pandemic is going through the foreclosure process after its …




Michigan counties accused of illegally profiting from tax foreclosure auctions – mlive.com

Ann Arbor News

GRAND RAPIDS, MI — Counties across Michigan foreclosed on homes for outstanding property taxes, sold them at auction and illegally kept the …




FHFA announces foreclosure hold for HAF applicants | Consumer Finance Monitor

Consumer Finance Monitor

The Federal Housing Finance Agency announced yesterday that Fannie Mae and Freddie Mac will require servicers to suspend foreclosure activities …

NCRC STATEMENT: Partial Foreclosure Moratorium Welcome News But Insufficient To … – National Community Reinvestment Coalition

Worried About Foreclosure? | AlabamaLegalHelp.org | A guide to free and low-cost legal aid … – AlabamaLegalHelp.org

mortgage foreclosure – Your Online Guide to Legal Information and Legal Services in Pennsylvania – PALawHELP.org

Full Coverage




Fannie and Freddie issue guidance implementing foreclosure hold for HAF applicants

Consumer Finance Monitor

As previously reported, the Federal Housing Finance Agency announced that Fannie Mae and Freddie Mac will require servicers to suspend foreclosure …

Fannie Mae Announces Temporary Guidance on Foreclosure Actions and Homeowner … – TENA Companies, Inc.

options – Search | A guide to free and low-cost legal aid, assistance & services in Alabama – AlabamaLegalHelp.org

Full Coverage




Eaton, Ingham, Hillsdale counties accused of illegally profiting from tax foreclosure auctions – WILX


Plaintiffs in the lawsuit claim that certain counties in Michigan owe money for the sale of foreclosed homes prior to July of 2017. Advertisement.




New FHFA Foreclosure Policies Released Regarding Suspension for Borrowers – Appraisal Buzz

Appraisal Buzz

… (FHFA) has published a notice that Fannie Mae and Freddie Mac (the Enterprises) will require servicers to suspend foreclosure activities for …

Home Equity, Refinancing, and Foreclosure Prevention – Eventbrite – Eventbrite

Full Coverage




New FHFA Foreclosure Policies Released Regarding Suspension for Borrowers – MortgageOrb


The HAF’s purpose is to prevent mortgage delinquencies and defaults, foreclosures, loss of utilities or home energy services, and displacement of …




Free Orange County forum: Understanding the Foreclosure Purchasing Process | The Apopka Voice

The Apopka Voice

Foreclosure investment refers to the process of investing capital in the public sale of a mortgaged property following foreclosure of the loan secured …

Notorious Dupont Circle Party House Hits Market After Falling Into Foreclosure – UrbanTurf – UrbanTurf

Full Coverage




Onondaga County takes action to foreclose Great Northern Mall – Spectrum News

Spectrum News

Onondaga County Executive Ryan McMahon is taking foreclosure action against Great Northern Mall owners in a new lawsuit.




Onondaga County seeks foreclosure of Great Northern Mall (Good Morning CNY for April 7)


Onondaga County seeks foreclosure of Great Northern Mall (Good Morning CNY for April 7). Published: Apr. 07, 2022, 6:21 a.m..




FHFA Suspends Foreclosures on Borrowers Who Applied for HAF Assistance – DSNews

DS News

New announcement will require servicers with GSE-backed mortgages backed to delay the foreclosure process for up to 60 days.




FHFA Suspends Mortgage Foreclosures – NMP

National Mortgage Professional

Homeowners with Fannie Mae or Freddie Mac-backed mortgages were granted a reprieve of two additional months to avoid foreclosure if they applied …




When HOAs use foreclosure to collect overdue fees – YouTube


Subscribe to our YouTube channel: https://bit.ly/3zeF6ChWhile most homeowners associations refrain from the “last resort” of foreclosing on …




Americans aren’t likely to lose their homes if the real estate bubble bursts, 2 economists say

Business Insider

As home prices soar, many fear a repeat of the 2008 foreclosure crisis. But two economists told Insider it’s unlikely. Homeowners have a lot more …


Full Coverage




Wayne County Treasurer Sabree says property tax foreclosures on rentals outpacing those …

WDET 101.9 FM

The deadline to avoid foreclosure was April 1. But recently, a Third Circuit Court judge ruled that foreclosures should be suspended for some …




The Foreclosure Abuse Prevention Act: Not a Radical Change | New York Law Journal


Jacob Inwald, director of Foreclosure Prevention at Legal Services NYC, and Rachel Geballe, deputy director of the Neighborhood Economic Justice …

mortgage foreclosure – Search | PALawHELP.org – Your Online Guide to Legal Information … – PALawHELP.org

Full Coverage




A number of Southwest Michigan counties accused of illegally profiting from tax foreclosure auctions

WIN 98.5 Your Country

Plaintiffs in the lawsuit are claiming that the counties owe money for the sale of foreclosed homes prior to July of 2020.




Mortgagee’s Notice of Foreclosure Sale of Real Property | Legals | timesargus.com

Times Argus





Alleged scammers busted for ripping off funds from Cambria Heights home foreclosure: DA – QNS


Three men and a corporation have been indicted by a Queens grand jury in a home foreclosure scam for allegedly stealing nearly $400000 using …




Great Northern Mall tenants not surprised by Onondaga County’s call for foreclosure | WSTM

CNY Central

Now, Onondaga County’s move toward foreclosure puts those same businesses in a position of uncertainty. The tenants who own Bill’s Carpet say …




No, stores won’t be affected by foreclosure of the Great Northern Mall | WAER


Onondaga County started the process of foreclosure this week on the Great Northern Mall. According to county claims, the owners of the mall owe …




Details About the Ulster County Tax Foreclosure Auction May 2022 – Hudson Valley Post

Hudson Valley Post

Ulster County is a go with the 2022 tax foreclosure auction. When can you start bidding and how can you check out the properties, all 267 of them.

1226 Roman Dr Princeton, TX 75407 – Collin County Foreclosure Notices – Collin County Foreclosure Notices

Full Coverage




Onondaga County begins foreclosure proceeding on Great Northern Mall, seeks sale

CNY Business Journal

Onondaga County on Wednesday filed a foreclosure action in Onondaga County Supreme Court against Kohan Retail Investment Group, of Great Neck on Long …





Queens District Attorney

In April 2010, defendant Longobardi contacted the NYC Department of Finance to confirm that surplus funds related to a 2006 foreclosure sale were …


Full Coverage




Grace Youth and Family Foundation fighting foreclosure – Butler Eagle

Butler Eagle

First Commonwealth Bank filed foreclosure complaints in Butler County Common Pleas Court in March against the nonprofit foundation, claiming it owes …




Katz: Three charged in scheme to pocket foreclosure funds – Newsday


A Long Beach man and two others used phony documents with forged signatures to claim $394,216 in unclaimed funds from the auction of a foreclosed …




Waterford Police Issue Warning About Foreclosure Scam – Patch


Waterford Police Issue Warning About Foreclosure Scam – Waterford, CT – Police said a scam that involves sending letters to homeowners about …




Foreclosure Notice Didn’t Come From Bank. Their HOA Sent It – Newser


Their Mortgage Was Paid, but HOA Threatened Foreclosure. Townhouses, hopefully with their HOA assessments paid in full. (Getty Images) …

County threatens Family Dollar foreclosure | News | hometownnewstc.com – Hometown News

Full Coverage




Tax collector will list delinquent property owners in Observer | Cornelius Today

Cornelius Today

Properties identified as eligible for foreclosure can be found here. Here’s how to pay your bill: • By internet: Log on to MeckNC.gov/paytax and …






Foreclosure. ×. Post a comment as. Emoticons. Comment Text. Cancel. Post comment. ×. Report. Cancel. Report Abuse. ×. Watch this discussion.

Commercial Foreclosures (Non-Judicial) (CA) | Practical Law – Practical Law – Thomson Reuters

Full Coverage




Milwaukee Asian grocery store planned near troubled 5xen Market

Milwaukee Journal Sentinel

The Milwaukee Journal Sentinel reported in February that 5xen is facing a foreclosure suit from its lender after a $20 million expansion plan failed …










Two-tower downtown Denver office complex going through foreclosure – Spot On Colorado

Spot On Colorado

A two-tower office complex in downtown Denver that saw occupancy dwindle prior to the pandemic is going through the foreclosure.




Depew teacher charged after incident with six-year-old student – WKBW


Depew teacher charged following incident involving six-year-old student at Cayuga Heights Elementary School. Erie County to hold mid-year …




Shaker Square rescue plan will resurface at Cleveland City Council next week

Crain’s Cleveland Business

A public-private plan to wrest Shaker Square from the brink of foreclosure is regaining momentum after five months in limbo.




ND Law’s 2022 Shaffer Fellows to address mental illness in Illinois prisons, mortgage …

Notre Dame Law School – University of Notre Dame

Foreclosure harms communities by creating more vacant homes, and furthering community blight,” said Nielsen-Kim. “Advocating for home retention will …




Public Notices – Columbia Star

Columbia Star


Deficiency | Practical Law – Westlaw – Westlaw

Full Coverage





Superior Telegram

NOTICE OF FORECLOSURE SALE Case No. 21-CV-000201 PLEASE TAKE NOTICE that by virtue of a judgment of foreclosure entered on February 7, …




Senate Attorney Owes $13K in Rent, Faces Eviction: Suit – The Real Deal

The Real Deal

The Queens senator’s aide, Ivan Young, worked at a law firm focusing on foreclosures and evictions. He hasn’t paid rent in nine months.

Foreclosure Equity Theft Law signed by Governor Evers – The Commercial Association of REALTORS Wisconsin

Commercial Foreclosure (Nonjudicial) Checklist (NV) | Practical Law – Practical Law – Thomson Reuters

Full Coverage




Public Notices – – Babylon Beacon

Babylon Beacon

and Judgment of Foreclosure and Sale duly filed on. November 18, 2019, I, the … Concerning Public Auctions of Foreclosed Property

Commercial Foreclosure (Judicial) Flowchart (CA) | Practical Law – Practical Law – Thomson Reuters

Referee’s Report of Sale (Foreclosure) (NY) | Practical Law – Practical Law – Thomson Reuters

Full Coverage




Williams County Courthouse, April 7, 2022 – The Crescent-News

The Crescent-News

Foreclosure. Kellie Gray, Treasurer of Williams County vs. Helen Goebel. Foreclosure. Williams County Treasurer vs. Charlotte Barker, Montpelier …




Fitch Ratings Publishes Netherlands Buy-to-Let RMBS Rating Criteria Exposure Draft

Fitch Ratings

The 4.1% ‘Bsf’ representative pool weighted average foreclosure … RMBS Rating Criteria” with the exception of the foreclosed sale adjustment, …




Cleveland’s $12M deal to pay off Shaker Square debts will move forward, councilwoman says


The fate of the property – and the foreclosure proceeding – hung in limbo for months. Wilmington Trust has asked the court twice for a phone …




Bridgeport moving forward with demo after former Barnum Avenue church building further collapses

Connecticut Post

In 2016, the city’s Water Pollution Control Authority foreclosed on … A message left with the lawyer handling the foreclosure was not returned.




Illinois Pension Costs Are Driving Up Taxes | City Journal

City Journal

But by 2013, her annual property tax bill was $11,500, nearly driving her into foreclosure. By 2020, Hill had seen her annual payments lowered to …




Keller Williams sued, foreclosure pipeline fills, buyer sentiment drops: Inman Top 5


Keller Williams sued, foreclosure pipeline fills, buyer sentiment drops: Inman Top 5. Catch up quickly on the most significant stories of the week …




Fla. Atty Hopes To Use Anti-SLAPP To Exit Ethics Complaints – Law360


A Florida foreclosure defense attorney is hoping to use the state’s anti-SLAPP statute to dodge formal ethics charges, arguing that filings …




Slate Ridge owner Daniel Banyai pays town of Pawlet nearly $53,000 – VTDigger


His payment may exempt Banyai from another request from the town: to place his property in foreclosure. “We’re still asking the court to impose daily …





Foreclosure Prevention Counselor-Buffalo-NY-248925 – WNY Jobs

WNY Jobs

Foreclosure Prevention Counselor in Buffalo, NY. Belmont Housing Resources Posted: 2022-04-06. Buffalo, NY 14214. <. >.




News Flash • Hardin County, IA • CivicEngage

Hardin County, IA

Bloom Foreclosure Sale will be held on Thursday, May 19, 2022, at 1:00 PM at the Law Enforcement Center in Eldora.




Foreclosure in 2022 | Foreclosures, We buy houses, Rental – Pinterest


Mar 29, 2022 – #americanhomesandrentals #foreclosure #foreclosures #facingforeclosure #needhelp #help #webuyhomes #webuyhouses #wepaycash …




FORECLOSURE SMASHERS! – real estate wanted – Craigslist San Luis Obispo

Craigslist San Luis Obispo

FORECLOSURE SMASHERS! … WE’RE HEROIC TO WORK WITH! do NOT contact me with unsolicited services or offers. post id: 7468301342. posted: about 20 hours …




FRAUD STOPPERS Daily News Update ⋅ April 8, 2022


Authorities in Albany seeking male for entering auto and financial transaction card fraud | WFXL


… fraud. Love, 23, stands at 5’08” and weighs approximately 145 pounds. Anyone who has any information regarding Love should call Crime Stoppers …




Bogus test taker to be sentenced in college admissions scam – FOX23 News


Riddell, who had been cooperating with federal authorities in hopes of getting a lesser sentence, pleaded guilty to fraud and money laundering …




Charge laid after senior loses $9,000 in grandparent scam – iHeartRadio


Police say the investigation is ongoing and that anyone with information should contact officers at 416-808-7300 or reach out to Crime Stoppers …




Huntsville doctor charged with conspiracy to commit health care fraud – WAFF


On Thursday, Dr. Eric Beck filed a plea agreement that claimed that health insurance programs were billed over $28 million for medically …




Mississauga man faces several counts of fraud after Oakville woman victimized for … – insauga


For further inquiries, contact the fraud unit at 905-825-4747, ext. 8741. Tips can also be submitted anonymously to Crime Stoppers at 1-800-222-8477 ( …




Georgetown man busted on fraud charges after stealing mail | FM101 Milton Now

Milton Now

Additional information on frauds and scams can be found here. Tips can also be submitted anonymously to Crime Stoppers. “See something? Hear something …




Man extradited from Victoria over alleged $600000 BEC scam of film production company

Latest News – NSW Police Public Site

Can You Help Us? Report Information About Crime (Crime Stoppers) · Reporting Bikie Gang Activity · Missing Persons · Most Wanted Persons · Rewards …




Identity Theft & Fraud Arrest, Male Facing 23 Charges – Regina Police Service

Regina Police Service

Thirty-three year-old Robert LEJOURE, or Regina, is charged with: 56.1(1) Identity Fraud – Possess of an Identity Document;; 145(5)(A) Fail to Comply …




Toronto police arrest man in $9K ‘grandparent scam’

Toronto Star

Police said they are still investigating and ask anyone with information to contact them at 416-808-7300 or Crime Stoppers anonymously at …

Fraud and Theft – Crime Stoppers – Crime Stoppers

Full Coverage




Charge laid after senior loses $9000 in grandparent scam – CTV News Toronto

CTV News Toronto

Police have charged a man in connection with a grandparent scam in which … officers at 416-808-7300 or reach out to Crime Stoppers anonymously.




Toronto man, 20, charged in grandparent scam

Toronto Sun

Three men have been arrested in a grandparent scam that saw one Durham man … Anyone with information can call 416-808-7300 or Crime Stoppers at …




RCMP Report Pt. 2: Men charged for assault, threats, identify fraud | battlefordsNOW


Anyone with information on any incident call the Battlefords RCMP or Saskatchewan Crime Stoppers. —. cjnbnews@pattisonmedia.com. On Twitter: @ …




Two sudden deaths in latest Rosetown RCMP report – WestCentralOnline


Also in the morning of April 6, Members received a report of fraud. … Saskatchewan Crime Stoppers anonymously at 1-800-222-TIPS (8477) or submit …




Mortgage Fraud Daily News Update ⋅ April 8, 2022


How to avoid a reverse mortgage scam | WGN Radio 720 – Chicago’s Very Own

WGN Radio

Mortgage and real estate expert David Hochberg joins Lisa Dent on Chicago’s Afternoon News to explain what reverse mortgage fraud is and how to …




NYC Cuts Off Wells Fargo From New Bank Contracts Following Discrimination Claims – THE CITY


“These disparate mortgage practices, layered upon a checkered history of … of widescale fraud and racially discriminatory loan practices.




Pending home sales dwindle | News by Edition


“The sale of a loan after the original funding of the loan at settlement is a … California men indicted for multi-state mortgage fraud scheme …




How to avoid a reverse mortgage scam | Chicagoland – Spot On Illinois

Spot On Illinois

Mortgage and real estate expert David Hochberg joins Lisa Dent on Chicago’s Afternoon News to explain what reverse mortgage fraud.




NY attorney general seeks to hold Trump in contempt over fraud probe | The Guardian Nigeria News

The Guardian Nigeria News

New York state Attorney General Letitia James on Thursday asked a judge to hold former president Donald Trump in contempt for failing to turn over …




Manhattan DA says Trump criminal investigation continues despite two prosecutors quitting – CNBC


… I successfully brought cases involving money laundering, witness tampering, mortgage fraud, official misconduct, and bribery.”.




Mortgage rates, home prices sideline more buyers | News | The Title Report

The Title Report

Mortgage rates are rising at the fastest pace in history, according to Redfin. … California men indicted for multi-state mortgage fraud scheme …




Notarize names VP of strategic settlement service and strategy | News | The Title Report

The Title Report

“Executed well, RON simply reduces fraud, reduces costs, … full visibility and access to mortgage documents throughout the signing in real time.




Dan Rodricks: The downside to old-school fraud in the digital age — you can get caught more easily

Baltimore Sun

Once upon a time, it seemed possible, however illegal, for the sleazy, greedy and desperate among us to get away with lying on mortgage …




New Witnesses Interviewed in Trump Investigation, Manhattan DA Says

The New York Times

Investigation into criminal fraud. … cases involving money laundering, witness tampering, mortgage fraud, official misconduct, and bribery.”.




North Dakota oil exec gets 3-year sentence for fraud scheme – Times Union

Times Union

BISMARCK, N.D. (AP) — A former North Dakota oilfield executive whose false claims about…




ZSuite Technologies achieves SOC 2 compliance | News | The Title Report

The Title Report

California men indicted for multi-state mortgage fraud scheme … has moved to mortgage technology company Gateless, which offers artificial in.




A federal jury finds a Kansas scholar guilty of fraud and hiding ties to China – Texas Public Radio

Texas Public Radio

Mortgage rates on 30-year, fixed-rate loans rose above 5% this. Mortgage rates just hit 5%. Buying a home has become a lot more expensive.




California Brokerage Approved to Offer Bank Statement, Purchase & Refinance Options to …

Yahoo Finance

April 8, 2022) – In light of current mortgage rate highs, … This lack of scrutiny led to fraud within the housing market that resulted in a lack …




Yellen calls for crypto regulation to reduce risks, fraud – Times Union

Times Union

WASHINGTON (AP) — Treasury Secretary Janet Yellen says more government regulation is needed to police the proliferation of cryptocurrency and …




Remember Card Fraud? – Forbes


When card fraud was spiralling out of control, the industry responded with chip and PIN. What is going to stop all of the new payment frauds?




Treasury secretary calls for crypto regulation to reduce risks, fraud – North Bay Business Journal

North Bay Business Journal

The Treasury secretary said government should require disclosures of cryptocurrency transactions in a similar way that investment transactions are …




Mortgage rates just hit 5%. Buying a home has become a lot more expensive – NPR


Higher mortgage rates and home prices have pushed the monthly payment to buy the median-priced home in the U.S. up more than 50% since the start …




A federal jury finds a Kansas scholar guilty of fraud and hiding ties to China | NPR Illinois

NPR Illinois

Mortgage rates on 30-year, fixed-rate loans rose above 5% this · Mortgage rates just hit 5%. Buying a home has become a lot more expensive.




Whistleblowers expose big fraud. What makes us so obsessed and what can we learn? – Phys.org


Are these types of massive fraud cases becoming more prevalent, … lot of major banks was unveiled during the mortgage-backed securities crisis.




A jury finds a Kansas scholar guilty of fraud and hiding ties to China | Iowa Public Radio

Iowa Public Radio

A federal jury in Kansas City has found chemistry professor Feng “Franklin” Tao guilty on four counts of fraud and making false statements, …




Long-term US mortgage rates edge up this week to 4.72% – Beaumont Enterprise

Beaumont Enterprise

The average rate on the 30-year loan this week rose to 4.72%, from 4.67% last week, mortgage buyer Freddie Mac reported Thursday. The average rate has …




Cleric, 55, docked over fake prophecy, N1.7m fraud | The Guardian Nigeria News

The Guardian Nigeria News

A 55-year-old cleric, Nelson Foni, was arraigned at a Kafanchan Magistrates’ Court in Kaduna State on Friday for giving false prophesy and duping …




11 charged with arranging sham marriages to get green cards – Times Union

Times Union

Rollins said the defendants, who live in California, were indicted on conspiracy to commit marriage fraud and immigration document fraud in connection …




Twenty7Tec confirms intent to move into advice market – Mortgage Finance Gazette

Mortgage Finance Gazette

Mortgage technology solutions provider Twenty7Tec is looking to break into the financial advice market with plans to acquire a practice management …




Remortgage activity surges as borrowers try to beat further rate rises | Financial Reporter

Financial Reporter

Searches for interest-only mortgages grew by 33% in February. Kevin Roberts, director of Legal & General Mortgage Club, said: “The cost-of-living …




TMA appoints four specialist area supervision managers | Financial Reporter

Financial Reporter

Roger Holmes joined from Halifax Bank, where he worked as a mortgage adviser, branch manager and area mortgage manager.




Twenty7Tec confirms merger talks with adviser software firm Bluecoat | Financial Reporter

Financial Reporter

Bluecoat is a provider of practice management solutions for advisers and mortgage brokers. Its FinPlan system enables financial planners and advisers …




The Mortgage Lender appoints head of specialist distribution | Financial Reporter

Financial Reporter

Chris joins TML after over four years at Kensington Mortgages. Having started his career at the Coventry Building Society, he then became a BDM at …




Stocks Sway on Wall Street – DTN/Progressive Farmer

DTN/Progressive Farmer

Farmer Faces Prison for Loan Fraud … bank’s stockpile of Treasurys and mortgage-backed securities by about $95 billion a month, starting in May.




New mortgage lender enters market with second charge range | Financial Reporter

Financial Reporter

New fintech mortgage lender, Scroll Finance, has launched its home equity loan and home equity line of credit (HELOC) products, powered by Mambu’s …




Yellen calls for crypto regulation to reduce risks, fraud – WTMJ


WASHINGTON (AP) — Treasury Secretary Janet Yellen says more government regulation is needed to police the proliferation of cryptocurrency and other …




A federal jury finds a Kansas scholar guilty of fraud and hiding ties to China – WUSF News


Mortgage rates on 30-year, fixed-rate loans rose above 5% this · Mortgage rates just hit 5%. Here’s how much more expensive that makes home ownership.




Mortgage rates rise to highest level in three years and more business news

Chattanooga Times Free Press

Long-term U.S. mortgage rates edged up again this week with the key 30-year … examples of alleged cryptocurrency laundering and fraud this year.




CU Lending Trends: First Mortgage & Used Car Lending Gains | Credit Union Times

Credit Union Times

CUNA finds first-mortgages again led portfolio gains but used cars have … CEO Sentenced to Probation With Fine in Multimillion-Dollar Fraud Case.




Tenant who used fraudulent documents owes $101k, using COVID laws to avoid eviction … – ABC30


Pleasanton homeowner says his tenants haven’t paid rent for 26 months citing COVID protection laws, and he can’t afford to pay the mortgage. “He gave …




Arizona’s Republican attorney general effectively concedes review of 2020 election in …


Arizona has been ground zero by efforts by Trump and his allies to find proof for their claim that Trump’s narrow loss here was marred by fraud. The …




Long-term US mortgage rates edge up this week to 4.72% – KTAR.com


WASHINGTON (AP) — Long-term U.S. mortgage rates edged up again this week with the key 30-year loan rate reaching levels not seen in more than …




Forbearance will be key in alleviating pressures on beleaguered UK households | Financial Reporter

Financial Reporter

Our vast experience in loan and mortgage servicing shows that people who find themselves falling into financial difficulties can be reluctant to …

Scale of Covid mortgage fraud leaves UK struggling to reclaim billions misplaced % – wssNews.co.uk – wssNews.co.uk

Full Coverage




Editorial: Ken Carlson is standout candidate for Contra Costa supervisor – East Bay Times

East Bay Times

And, in 2016, the sales arm of the Seeno homebuilding empire accepted a guilty plea involving a mortgage fraud scheme and was ordered to pay fines …




Newcastle Intermediaries launches new 95% LTV range | Financial Reporter

Financial Reporter

Newcastle Intermediaries has launched a new range of three and five-year fixed rate 95% LTV products. Related topics: Mortgages. Rozi Jones.




FCA to publish outcomes and performance metrics – Mortgage Finance Gazette

Mortgage Finance Gazette

The Financial Conduct Authority will, for the first time, hold itself accountable against published outcomes and performance metrics.




LiveMore Capital partners with Specialist Mortgage Group | Financial Reporter

Financial Reporter

LiveMore Capital has broadened its distribution by partnering with brokerage Specialist Mortgage Group (SMG).




A federal jury finds a Kansas scholar guilty of fraud and hiding ties to China | WVIK, Quad Cities NPR


NPR’s Steve Inskeep talks to attorney Peter Zeidenberg about his client, Feng “Franklin” Tao of the University of Kansas, who was convicted of …




Long-term US mortgage rates edge up this week to 4.72% – ABC17NEWS


The increases in home loan rates come a few weeks after the Federal Reserve raised its benchmark interest rate by a quarter point in an attempt to …




Long-term US mortgage rates edge up this week to 4.72% – BizTimes.biz


The average rate on the 30-year loan this week rose to 4.72%, from 4.67% last week, mortgage buyer Freddie Mac reported today. The average rate has …




Mortgage rates rise, inching closer to 5% – KYMA


By Anna Bahney, CNN business. Mortgage rates rose again this week, inching closer to 5%. The 30-year fixed-rate mortgage averaged 4.72% in the …




Mortgage rates continue upwards movement, shows Moneyfacts

Mortgage Finance Gazette

This week saw all average headline mortgage fixed rates rise, shows data from Moneyfacts. Specifically, the average rate for a two-year fix moved …




Business Plan 2022/23 | FCA

Financial Conduct Authority

The campaign runs across loan-fee fraud, investment and pension fraud. Recognise and reduce harm. Develop our approach for effectively supervising …




Barstool’s Portnoy rips Tiger Woods for being a ‘fraud’ | Fox Business

Fox Business

Dave Portnoy calls out Tiger Woods’ trying to be a “goody-two-shoes” over his career with a poor media image.





Serious Fraud Solicitors – Richard Nelson LLP

Richard Nelson LLP

… including bribery and corruption cases, to smaller matters such as mortgage fraud. Fraud-Defense. Serious fraud solicitors …




Mortgage Loan Modification Fraud Attorney in Beverly Hills – Pinterest


Oct 26, 2015 – Need a Mortgage Loan Modification Fraud Attorney in Beverly Hills? Lavaee Law Group attorneys specialize in loan modification cases …




Coin Fraud Warning Key Date Coins | Coin Talk

Coin Talk

They both have done time in federal Prison for mortgage fraud. They were real coins just all details or 4-5 grades lower than what was on the …





Scope of the FRAUD STOPPERS Bloomberg Securitization Audit

FRAUD STOPPERS Evaluation for Violations of “RESPA” The Real Estate Settlement Procedures Act (RESPA) is a consumer protection statute, first passed in 1974. It requires lenders to give a good faith estimate (GFE) of all closing costs that borrowers must pay. It was designed to help borrowers from being forced to pay “hidden fees” at closing. Typical violations of RESPA include (1) Statutory Damages, (2) Attorney’s fees, and in many cases (3) Treble Damages [i.e., 3 times the amount.]

FRAUD STOPPERS Evaluation for Violations of “TILA” The Truth in Lending Act (TILA) requires lenders to disclose the terms of a loan, including the total amount of the loan, the annual interest rate, and the number, amount, and due dates of all payments necessary to repay the loan. The TILA also requires additional disclosures and places many restrictions on mortgages. The most often sought remedy under TILA is rescission of the loan.

FRAUD STOPPERS Evaluation for Violations of “FCRA” The Fair Credit Reporting Act (FCRA) was designed to prevent inaccurate or obsolete information from entering or remaining on a credit report. The law requires credit bureaus to adopt reasonable procedures for gathering, maintaining, and disseminating information. Commons remedies for violating FCRA are (1) statutory damages and (2) Attorney fees

FRAUD STOPPERS Evaluation for Violations of “ECOA” The Equal Credit Opportunity Act (ECOA) was designed to ensure that all qualified people have access to credit and prohibits discrimination based on sex, marital status, age, race, national origin, or public assistance benefits received.

FRAUD STOPPERS Evaluation for Violations of “HOEPA” Home Ownership Equity Protection Act state and local high costs. Federal (HOEPA), state and local high-cost thresholds.

FRAUD STOPPERS compares the loan data collected during a forensic loan audit to the calculated high-cost thresholds as defined by the Home Ownership and Equity Protection Act (HOEPA) and applicable state and local jurisdictions.

FRAUD STOPPERS Evaluation for Violations of “Underwriting Standards” The purpose of an underwriter is to determine whether the borrowers can qualify for a loan and if the borrowers can repay the loan. This determination of the ability to repay a loan is based upon employment and income in large measure, which is proved by getting pay stubs, 1040’s, W-2’s and a Verification of Employment and Income on the borrowers.

If an underwriter has evaluated the loan properly, then there should be no question of the ability of the borrower to repay the loan. Debt ratios will have been evaluated, credit reviewed, and a proper determination of risk made in relation to the loan amount. Approvals and denials would be made based upon a realistic likelihood of repayment.

The terms “abusive lending” or “predatory lending” are most frequently defined by reference to a variety of lending practices. Although it is generally necessary to consider the totality of the circumstances to assess whether a loan is predatory, a fundamental characteristic of predatory lending is the aggressive marketing of credit to prospective borrowers who simply cannot afford the credit on the terms being offered. While such disregard of basic principles of loan underwriting lies at the heart of predatory lending, a variety of other practices may also accompany the marketing of such credit.


Targeting inappropriate or excessively expensive credit products to older borrowers, or to persons who are not financially sophisticated or who may be otherwise vulnerable to abusive practices, and to persons who could qualify for mainstream credit products and terms

Loan Flipping & Equity Stripping

Repeated refinancing of borrowers into loans that have no tangible benefit to the borrower. Can be the same lender or different ones. Loans and refinances whereby equity is removed from the home through repeated refinances, consolidation of short-term debt into long term debt, negative amortization, or interest only loans whereby payments are not reducing principle, high fees and interest rates. Eventually, borrower cannot refinance due to lack of equity.

High Debt Ratios

This is the practice of approving loans with high debt ratios, usually50% or more, without determining the true ability of the borrower to repay the loan. Can often be seen with Prime borrowers approved through the Automated Underwriting Systems.

High Loan to Value loans

Loans offered to a borrower having little or no equity in the home. Usually, adjustable-rate mortgages that the borrower will not be able to refinance out of when the rate adjusts due to lack of equity.

Fraudulently Caused to Execute Loan Documents

Adjustable-rate mortgage loan was an inter-temporal transaction on which Plaintiffs had only qualified at the initial teaser fixed rate and could not qualify for the loan once the interest rate terms change.

Deception, Fraud, Unconscionable

Is marketed in a way that fails to fully disclose all material terms. Includes any terms or provisions which are unfair, fraudulent, or unconscionable. Is marketed in whole or in part based on fraud, exaggeration, misrepresentation, or the concealment of a material fact. Includes interest only loans, adjustable-rate loans, negative amortization and HOEPA loans.

Stated or No Income/No Assets

Is based on a loan application that is inappropriate for the borrower. For instance, the use of a stated-income loan application from an employed individual who has or can obtain pay stubs, W-2 forms and tax returns.

Lack of Due Diligence in Underwriting

Is underwritten without due diligence by the party originating the loan. No realistic means test for determining the ability to repay the loan. Lack of documentation of income or assets, job verification. Usually with Stated Income or No documentation loans but can apply to full documentation loans.

Inappropriate Loan Programs

Is materially more expensive in terms of fees, charges and/or interest rates than alternative financing for which the borrower qualifies. Can include prime borrowers who are placed into subprime loans, negative or interest only loans. Loan terms whereby the borrower can never realistically repay the loan.

All claims and defenses the borrower may have against the mortgage lender, mortgage broker, or other party involved in the loan transaction.

FRAUD STOPPERS Evaluates Each File for Violations of “Common Law Principles”


Material facts include the terms of the loan, whether there is a prepayment penalty, or any other information which a reasonable borrower would want to know before accepting the loan. Did the broker or loan officer or anyone working for the broker or loan officer fail to disclose any material facts to the borrower?


Were any representations, statements, or comments, written or made by the loan officer, broker, notary or anyone else who contradicted the terms of the documents?


When a mortgage professional makes errors which a reasonably diligent mortgage professional would not have made, he or she may have made a negligent misrepresentation.


The note and its attachments are a contract. The broker must follow all the terms of the contract such as the way the interest is calculated, and the penalties it assesses. Were there any terms in the contract which the lender failed to follow?


And many, many, more…….

This is a court ready trial evidence audit & expert witness affidavit that you and your attorney can use to win your case. 


 Breaking News - What the Bank Does Not Want You to Know:

CONFIDENTIAL SETTLEMENT AFTER ORDER ON JUDGMENT inFlorida - CFLA Client Gets Huge Damage Award against JPMCB and WellsFargo for multiple fraudulent misrepresentations in loan documents and bylender[s] to homeowner[s]. The following is an exert from the Court's Orderin Florida. This case has reached CONFIDENTIAL SETTLEMENT andtherefore some information is redacted:

"Defendants JPMCB and Wells Fargo were involved in fraudulent recordeddocuments in violation of 15 USC §1611, and is entitled to damages forclouding title and to cure/Quiet Title. Plaintiffs are entitled to the reliefrequested herein to quiet title and for award of costs under FS §57.041"

Homeowner Quiets Title to Real Property in Florida Court and Liable forDamages for Fraudulently Recording Documents, Fraud, Misrepresentation


Learn how Cancel Secured and Unsecured Debt Obligations through Strategic Litigation

Now You Can Unlock the Power of Justice and the Rule of Law with FRAUD STOPPERS


Are you tired of being a victim of financial fraud, seeking the justice and legal remedy you deserve? Look no further – FRAUD STOPPERS is here to empower you with the comprehensive tools and support necessary for success. With a wide range of services tailored to your needs, we are your ultimate ally in the fight against fraud.

FRAUD STOPPERS Arsenal of Solutions includes but is not limited to:

  1. Audits & Investigations: Our team of skilled professionals will meticulously analyze your case, leaving no stone unturned in uncovering the truth. We employ cutting-edge techniques and resources to expose the fraud and gather irrefutable evidence. We are the only organization (to our knowledge) that can provide you with a Full Level 4 Bloomberg Securitization Audit and all the loan level data and trust information for all Government Sponsored Loans (GSE’s) and loan placed in private trust (shipped off shores) that do not report to the Securities and Exchange Commission (SEC).
  1. Expert Witness Affidavits & Testimony: Our network of esteemed experts will provide compelling affidavits and testify on your behalf, lending credibility and authority to your case. Their specialized knowledge and experience will strengthen your position in the legal battle.
  1. Turnkey Litigation Packages: We understand that navigating the complex legal landscape can be overwhelming. That's why we offer comprehensive litigation packages, equipped with all the necessary documents and strategies to mount a strong defense against fraudsters.
  1. Professional Paralegal Support: Our dedicated paralegals are committed to assisting you every step of the way. They will guide you through the process, offer invaluable insights, and provide crucial administrative support to ensure your case is well-prepared.
  1. Nationwide Attorney Networks: We have established a vast network of highly skilled attorneys across the country who specialize in fraud cases. Rest assured, you will be connected with a trusted legal expert who is passionate about seeking justice on your behalf.
  1. Legal Education and Training: At FRAUD STOPPERS, we believe that knowledge is power. That's why we provide comprehensive legal education and training resources, empowering you to understand your rights, navigate the legal system, and make informed decisions throughout your case.
  1. Debt Settlement Negotiations: Our experienced negotiators will engage with creditors on your behalf, striving to reach favorable debt settlement agreements. We will advocate for your interests, aiming to alleviate the financial burden caused by fraud.
  1. Private Lending: If you require financial assistance to support your legal battle, our private lending options can provide the necessary funding. Our trusted lending partners offer competitive rates and flexible terms, ensuring you have the resources to fight for justice.


And much more! Save Time, Money, and Increase Your Odds of Success with FRAUD STOPPERS' Proven Products and Programs

If you're serious about getting the legal remedy you deserve, FRAUD STOPPERS has everything you need to succeed while saving time, money, and increasing your odds of success. Our comprehensive range of proven products and programs is designed to streamline the process, maximize efficiency, and deliver results.

Time is of the essence when it comes to combating fraud, and we understand the importance of expediting your case. With our expertise and resources, we can minimize delays and ensure efficient progress. By leveraging our extensive experience in fraud investigations and legal strategies, you can navigate the complexities of the legal system with confidence, saving valuable time in the process.

We also recognize the financial burden that fraud can impose, and we are committed to providing cost-effective solutions. Our competitive rates for services, private lending options, and expert negotiation skills can help you save money while maximizing the value you receive. Rest assured that we strive to optimize your resources, enabling you to fight fraud without breaking the bank.

Partnering with FRAUD STOPPERS significantly increases your odds of success. Our proven track record and extensive network of experienced professionals ensure that you have the best possible resources at your disposal. From expert witness testimonies to strategic litigation packages and effective debt settlement negotiations, our carefully curated products and programs have a track record of achieving favorable outcomes. With FRAUD STOPPERS by your side, you can maximize your chances of holding fraudsters accountable and obtaining the justice you deserve.

By choosing FRAUD STOPPERS, you can save time, save money, and increase your odds of success. Our proven products and programs, combined with our commitment to your cause, empower you to reclaim your future. Take the first step towards justice by completing the form below.

Remember, with FRAUD STOPPERS, you have a trusted partner dedicated to saving you time, money, and increasing your chances of success. Let us fight by your side and help you put an end to fraud once and for all.

Our commitment to your success knows no bounds. We are constantly expanding our services and partnerships to provide you with the most effective tools in the fight against fraud.

Ready to get started?

Simply complete the form below to begin your journey towards justice. Once submitted, check your email inbox or email spam folder for detailed instructions on how to move your file forward.

Remember, you don't have to face fraud alone – FRAUD STOPPERS is here to champion your cause and bring you the justice you deserve.

Join us in the battle against fraud today!

Complete the form below and then after submission, check your email inbox or spam folder for detailed instructions on how to move your file forward to get the legal remedy you seek and deserve.



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