FBI Postings
Financial Crimes Report to the Public Fiscal Year 2007: Mortgage Fraud NEW!
The potential impact of mortgage fraud on financial institutions and the stock market is clear. If fraudulent practices become systemic within the mortgage industry and mortgage fraud is allowed to become unrestrained, it will ultimately place financial institutions at risk and have adverse effects on the stock market. Investors may lose faith and require higher returns from mortgage backed securities. This may result in higher interest rates and fees paid by borrowers and limit the amount of investment funds available for mortgage loans.
To learn more, click on the link below and select Mortgage Fraud.
www.fbi.gov/publications/financial/fcs_report2007/financial_crime_2007.htm
For GREFPAC from Gale Mckenzie, Assitant US Attorney, Northern District of Georgia:
Please find attached wanted posters for two individuals, Matthew B. Cox (alias michael Shanahan, David Freeman, Gerald Scot Cugno, Maxewell Price, Bevan Cox, Michael White, Kevin white and James Redd) and Rebecca M. Hauck (alias Grace Hudson, Rebecca Wylie, and Theresa Knight), who are charged in the NDGA with obtaining multiple mortgage loans on the same properties (which they do not own) in stolen identities after erasing the prior security by filing forged cancellations of the security deeds. Cox has been convicted for a similar scheme in FL. Thought you might want to advise your agents and share with other companies if you can, since we do not know where they are now operating.
FBI Posting #1
FBI Posting #2
