Credit And Fraud Risk Expected To Rise As Purchase Market Gains Steam

 As the mortgage market’s refinance volume declines, lenders likely will respond with more flexible underwriting standards as they seek to qualify borrowers for purchase loans, an action that may gradually increase credit risk. Read More

Gwinnett man is 22nd convicted for rigging bids at foreclosure auctions

 On the long list of those who profited from the misery of the Atlanta-area foreclosure crisis, you can add the name of Clifford Wayne Hill.

For more than four years, Hill, who conducted business through his company SalesForce Inc., conspired with others to rig foreclosure auctions in Gwinnett County, a federal indictment charged.

On Friday, Hill pleaded guilty to his role in the scheme, the Justice Department announced. He and fellow fraudsters submitted artificially low bids for the properties, depriving mortgage-holders and the home owners of money that might otherwise have gone to them, prosecutors said. Read More