Hat tip to MB for sending this along, from the wsj.com: Reports of mortgage fraud, which have been increasing since the housing boom, rose to their highest level on record in 2010, Treasury Department figures showed. The Financial Crimes Enforcement Network, a...
From the U-T: A Carlsbad attorney who made national headlines for telling clients to break into their foreclosed homes and retake possession was arrested Tuesday after a State Bar hearing on whether to revoke his license to practice law. Simi Valley police - who were...
Hat tip to daytrip for sending this along, from aol.com: A man who ran a defunct get-rich scheme agreed to settle a court order by paying the Federal Trade Commission $900,000 and surrendering the proceeds from the sale of his house and most of his personal property....
From HW: One of the many villains in the Financial Crisis Inquiry Commission report out Thursday is Goldman Sachs. According to page 235 of the report, they recognized the delusion in the subprime mortgage market and decided to short it before the crash in 2008....
A double, double escrow on the same street by the same broker! The big benefit to him is to make the both sides of the commission paid by the bank on the short sale. He probably made $70,000-$80,000 total - more than the investor made flipping the re-sales. This...
From the U-T: California real estate regulators are seeking to revoke the license of Michael Monaco, a Rancho Bernardo real estate broker. The Department of Real Estate filed a 15-page accusation against Monaco and one of his companies, Sub 500 Mortgage Inc., late...
Hat tip to SM for sending this article from the Arizona Republic - here's an excerpt: "Flopping is the opposite of flipping," said Amy Swaney, regional Arizona sales managers for Citywide Home Loans and a past president of the Arizona Mortgage Lenders Association. "It...
From nytimes.com: Save Florida Homes Inc. and its owner, Mark Guerette, have found foreclosed homes for several needy families here in Broward County, and his tenants could not be more pleased. Fabian Ferguson, his wife and two children now live a two-bedroom home...
Hat tip to daytrip for sending this in, from KDKA in Pittsburgh: ERIE, Pa. (AP) A northwestern Pennsylvania debt collector has agreed to cease collection tactics the state says included a sham courtroom where customers would be summoned. Unicredit America Inc. agreed...
Hat tip to RE for sending in this from Eric Wolff on Attorney Pines - here are excerpts: The break-ins generated widespread news coverage, including from The Wall Street Journal, "Inside Edition," and this newspaper, in part because of the public relations efforts by...
