Straw Buyer Schemes Lead to $34 Million in Fraud Indictments

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What is a straw buyer? A straw buyer is a person that buys a home on behalf of another person. As one can imagine, this is frequently used in fraud crimes when a person wants to buy a home but has poor credit or is unable to obtain financing.

Four Florida residents were convicted Thursday in federal court in Miami of a complex $50 million mortgage fraud. organizing the scheme over five years until 2008. Assistant U.S. Attorney Dwayne E.

New mortgage insurance written was $11.2 billion for the quarter, compared to $11.8 billion in the second quarter of 2015 and $11.2 billion in the prior-year quarter. radian earns $70 million in. Radian earns $70 million in third quarter Loans held for sale also increased as of June 30, 2014 by $159.2 million, or 88.2%, compared to March 31, 2014.

A federal grand jury has indicted five defendants, including the Millennium Outpatient Surgery Center in Santa Ana, California in relation to a $34 million scheme to defraud health insurers by.

A New Jersey insurance broker already charged in a bribery scheme with a former schools superintendent has been indicted on federal election fraud charges. Francis Gartland is accused of scheming with.

Home US Attorney Reports Lead Defendants Plead Guilty In Multi-Million Dollar Mortgage Fraud Scheme. US Attorney Reports Lead Defendants Plead Guilty In Multi-Million Dollar Mortgage Fraud Scheme. Roger Rosario and Jacqueline Perez-Castillo ("the straw buyer defendants") with wire.

RealtyTrac reports foreclosure filings rise 3% in January Foreclosure activity up 3% in January – . activity rose 3% in January, compared with December, and there are signs that the foreclosure process is beginning to get back to normal after its slowdown, the chief executive of RealtyTrac said.

Convictions for straw buyer fraud over the past three years are up nearly 200% compared to previous years. So if you are a real estate investor it is important to know what straw buyer fraud is. It is also important to understand the difference between straw buyer fraud and occupancy fraud.

A straw buyer can be the focal point for different types of complex scams and fraud schemes. Certain forms of mortgage fraud can include real estate agents, appraisers, and mortgage brokers who.

MINNEAPOLIS (WCCO) – A 49-year-old real estate agent from Savage was sentenced on Friday for her participation in a multi-million-dollar mortgage fraud. the scheme, Puro arranged for unwitting.

United States Attorney Dennis K. Burke recently joined members of the Arizona Financial Fraud Task Force to announce multiple indictments charging 38 people-among them loan officers, escrow officers, real estate appraisers and agents, and straw buyers-in various mortgage fraud schemes, including "cash back" and loan origination scams.