Articles

 Third Party Tactices: Tips for Managing the Equifax Breach. Read More

Scammers Conning Homebuyers Out of Their Downpayments. Read More

 Mortgage Fraud is On The Rise and Here Is What It Means to You. Read More.

 Law Enforcement Officials See Increased Sophistication in Mortgage Fraud. Read More

 As Mortgages Shift to Purchase Market, So Do Fraud Schemes. Read More

 Coto De Caza man gets 8 years for $2 million home loan cam that target more than 500 people. Read More

 SEC says "first ever cryptocurrency backed by real estate" is a fraud. Read More

 Buzzworthy with Ann Fulmer: Risk Management, Borrower Liens and Judgments Read More

 HUD Must get Better at Stopping Section 8 Fraud Read More

  CitiMortgage, Inc., O’Fallon, MO, Improperly Filed for FHA-HAMP Partial Claims Before Completing the Loan Modifications and Reinstating the Loans Read More

 Former Tulsa Housing Authority executive pleads guilty to audit fraud charge. Read More

 Convicted ex-lender who defrauded taxpayers is skimping on victim payments while living large, feds say Read More.

 Rate Defects Up From Year Ago; Rising Rates Could Spell Further Increase. Read More

 Sounding the Alarm. Mortgage Wire Fraud is a much bigger threat than you realize. Read More

 Ex-Asbury Park Housing Authority Executive Director Admits to $90K Theft. Read More

 CoreLogic: Mortgage Credit Risk Up in 3Q Read More

 Former Falls Housing Director Admits Theft. Read More

 4 More Charged With Sandy Fraud. Read More

 

 

Former St. Clair Housing Official Charged with Fraud

 (Source: thetimesherald.com) Aug. 8, 2017 The St. Clair Housing Commission’s former executive director is facing a fraud charge for allegedly misusing federal rental assistance funds and commission credit cards to benefit herself and family members. 

The charges allege Lorena Loren embezzled more than $300,000.

According to federal court documents filed Monday, Loren used Section 8 housing assistance payments to enter into fraudulent rental contracts on multiple occasions, including up until the time she left the position in August 2016. The fraudulent contracts were for properties in Port Austin, Bay City, and St. Clair, among others.

Federal prosecutors allege Loren utilized those contracts to deposit money meant to help low-income people pay for housing into multiple bank accounts. Prosecutors said the money benefited Loren and family members, including her son and husband.

She also is alleged to have used the housing commission’s credit cards at the Port Huron Township Sam’s Club, multiple Walmart stores and Amazon.com for a range of personal purchases, including adult and infant clothing, furniture, food, beauty supplies, medications, other household items and alcoholic beverages between 2010 and within the last two years.

Those purchases totaled a little more than $165,800, with most going to Amazon.

The charge is conspiracy to commit federal program fraud...

Risk For Mortgage Fraud Increases Slightly - CoreLogic

 Aug 7, 2017. CoreLogic says conditions in the mortgage market are once again fertile ground for mortgage fraud.   The company's National Fraud Risk Index hit a new high of 132 in the first quarter of this year versus 113 in the first quarter of 2016 and 122 in the fourth quarter.

Jacqueline Doty, executive, and product management for CoreLogic's Collateral Risk Solutions, reports in the company blog that hitting a "new high" isn't particularly momentous in this case, as the Index has only been around for a few years.  It was established in 2010 after the high levels of fraud that existed during the housing boom had dropped along with mortgage volume.  She said today's heightened number doesn't necessarily mean there is a lot more fraud occurring, just that conditions are present for it to increase.
Read More