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Single Family Loan Programs

Deloitte & Touche Agrees to Pay $149.5 Million to Settle Claims Arising From Its Audits of Failed Mortgage Lender Taylor, Bean & Whitaker

The Justice Department announced today that Deloitte & Touche LLP has agreed to pay the United States $149.5 million to resolve potential False Claims Act liability arising from Deloitte’s role as the independent outside auditor of Taylor, Bean & Whitaker Mortgage Corp. (TBW), a failed originator of mortgage loans insured by the Federal Housing Administration (FHA) in the Department of Housing and Urban Development (HUD).

Essex County Loan Officer Charged With Mortgage Fraud

NEWARK N.J. – A Nutley, New Jersey, man was charged today with using fraudulent documents to deceive his employer into approving a loan, U.S. Attorney Craig Carpenito announced.

Richard Patino, 42, is charged by complaint with one count of wire fraud. He made his initial appearance before U.S. Magistrate Judge Cathy L. Waldor in Newark federal court and was released on bail.

According to the complaint:

Defendant Sentenced to 41 Months in Prison for Defrauding Mortgage Lending Institutions

Earlier today, in federal court in Brooklyn, Dirk Hall was sentenced by United States District Judge Eric N. Vitaliano to 41 months’ imprisonment, to be followed by five years of supervised release, after having pleaded guilty to conspiracy to commit bank fraud and wire fraud in connection with a multi-million dollar mortgage fraud scheme.

Former Hubbard attorney facing federal charges

A former Hubbard attorney who gave up his law practice as he was about to disciplined now faces federal charges.

Federal authorities have issued a bill of information charging Richard James Lacivita with bank fraud and making a false statement on on a loan.

In most cases, prosecutors issue a bill of information instead of an indictment when the defendant intends to plead guilty to the charge or charges.

Lacivita, who now lives in Canfield, resigned from the practice of law in 2012 amid a pending discipline from the Ohio Supreme Court's disciplinary council.

Coto De Caza man gets 8 years for $2 million home loan scam that targeted more than 500 people

(Source: ocregister.com) SANTA ANA — A Coto De Caza man who in YouTube videos promised to help homeowners save their homes from foreclosure was sentenced Friday to eight years in prison after bilking more than 500 people out of $2.2 million.

Kevin Frank Rasher, who earlier this year pleaded guilty to a dozen counts of mail fraud, was sentenced to 97 months behind bars and ordered to pay about $2.24 million in restitution for the money he stole in a loan modification scam.

Cashmere, WA Woman, Owner Of Defunct Real Estate Escrow Firm Indicted For Bank Fraud Totaling $2 Million

(Source: skyvalleychronicle.com) (SEATTLE, WA.) -- The owner of a now defunct Tukwila, WA based real estate escrow firm was indicted last month by a federal grand jury on ten counts of bank fraud, and one count each of mail and wire fraud, announced U.S. Attorney Annette L. Hayes in Seattle Friday.

Lori Lynn Andrew, 48, now of Cashmere, Washington near Wenatchee, the owner of Hartman Escrow, Inc., was arrested and arraigned on the indictment Thursday of this week.

Orange County Man Pleads Guilty to Taking $2.2 Million from Distressed Homeowners in Bogus Loan Modification Scheme

SANTA ANA, California – An Orange County man pleaded guilty this morning to federal charges relating to his operation of a fraud scheme that took $2.2 million from distressed homeowners through false promises that he could help them avoid foreclosure by obtaining modifications to their mortgages.

Kevin Frank Rasher, 45, who has been in custody since his arrest at his Coto de Caza residence one year ago, pleaded guilty to 12 counts of mail fraud.

Mnuchin's OneWest subsidiary agrees to $89M settlement for reverse mortgage violations

Source: www.housingwire.com)  During the confirmation process for Department of the Treasury Secretary Steven Mnuchin, Congressional Democrats attempted to use the mortgage practices that took place at OneWest Bank during Mnuchin’s time as chairman against him, claiming that Mnuchin oversaw a “foreclosure machine” during his time at OneWest.

One of the Democrats’ weapons of choice was the alleged practices of Financial Freedom, a reverse mortgage servicer owned by OneWest, which Mnuchin sold in 2015.


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