We audited Cypress Meadows Assisted Living based on a U.S. Department of Housing and Urban Development (HUD), Departmental Enforcement Center, referral.  The referral asserted that the owner took distributions from Cypress Meadows for expenses other than the operation and maintenance of the Read More

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. Read More

The U.S. Department of Housing Urban Development (HUD), Office of Inspector General audited HUD to determine whether it ensured that lenders properly processed voluntary terminations of insurance coverage on single-family Federal Housing Administration (FHA) loans and disclosed all implications of Read More

(Source: k2radio.com) Criminal investigations by state and federal law enforcement focus on a former Casper resident who allegedly funneled some $2 million in federal community development funds to her then-boyfriend’s construction company and took expensive trips to see him on taxpayers’ dime. Read More

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 Read More

Financial Freedom has agreed to a settlement with the United States of more than $89 million to resolve allegations that it violated the False Claims Act and the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 (FIRREA) in connection with its participation in a federally Read More

(Source: fox13memphis.com) MEMPHIS, Tenn. - A local real estate investor has pled guilty to a charge of bank fraud, according to the Department of Justice. In September of 2016, Thomas L. Boyd, 44, was indicted by a federal grand jury in connection with a scheme to fraudulently obtain Read More

Memphis, TN – A Memphis real estate investor has pled guilty to a charge of bank fraud. Lawrence J. Laurenzi, Acting U.S. Attorney, announced the guilty plea today. In September 2016, Thomas L. Boyd, 44, was indicted by a federal grand jury in connection with a scheme to fraudulently obtain Read More

PROVIDENCE – Former Real Estate Attorney Louis Marandola, 42, of Providence and Brian R. McCaffrey, 38, of Warwick, a former licensed loan originator, have been sentenced to federal prison for their participation in a scheme to obtain money they were not entitled to from financial institutions and Read More

Deirdre M. Daly, United States Attorney for the District of Connecticut, announced that TIMOTHY W. BURKE, also known as “Bill Burke,” “William Burke,” “Kerry Saunders,” “Pat Riley,” “Jim Caldwell,” “Jim Saunders,” “Tom Morrisey,” “Jimmy,” “Phil Burke,” “Phil,” “Burt,” “James Burke,” and “M. Soler Read More

SCRANTON - The United States Attorney’s Office for the Middle District of Pennsylvania announced today that Ignacio Beato, age 46, of Hazleton, Pennsylvania, was charged in a one count criminal information on April 26, 2017, with conspiracy to engage in monetary transactions through a financial Read More

ALEXANDRIA, Va. – Three co-conspirators who operated a nationwide, multi-year “home mortgage modification” fraud that scammed hundreds of victims out of at least $10 million were convicted today by a federal jury. “These defendants scammed hundreds of individuals and families who were trying Read More

(Source: www.toledoblade.com) Calling their crimes “morally reprehensible,” a federal judge on Monday sent four people involved in a phony home-loan modification scheme to prison. U.S. District Court Judge James Carr ordered Christopher J. Howder, 40, of Perrysburg to spend seven years in prison Read More

The U.S. Department of Housing and Urban Development (HUD), Office of Inspector General (OIG), in coordination with the U.S. Department of Justice’s Civil Division and the U.S. Attorney’s Office for the Northern District of Illinois’ Eastern Division, conducted a joint review of the former Read More

SAN JUAN, P.R – On March 29, 2017, a federal grand jury in the District of Puerto Rico returned a one count indictment charging Tommy Rudy Habibe-Arias with making false statements in an application for a Home Equity Conversion Mortgage loan (commonly known as a “Reverse Mortgage”), announced Read More

The U.S. Department of Housing and Urban Development (HUD), Office of Inspector General (OIG), assisted the U.S. Department of Justice, Washington, DC, and the U.S. Attorney’s Office, Eastern District of Michigan, in the civil investigation of United Shore Financial Services, LLC.  United Read More

We audited Laurentian Hall Apartments (project) because of its failure to submit financial statements in a timely manner and because we had never audited the project before.  Our audit objective was to determine whether the project’s owner managed the project in accordance with its U.S. Read More

BOSTON – A Methuen attorney and a Methuen loan officer pleaded guilty yesterday in connection with a sweeping conspiracy to defraud banks and mortgage companies by engaging in sham “short” sales of residential properties in Merrimack Valley. Separately, a Methuen real estate broker was arrested on Read More

This briefing paper highlights challenges the Government National Mortgage Association (Ginnie Mae) faces in monitoring nonbanks and outlines our past, current, and future efforts to help it address those challenges. We are highlighting these challenges so HUD leadership is aware of and can be Read More

BROOKLYN, NY – Earlier today, David Gotterup was sentenced at the federal courthouse in Brooklyn, New York, to 15 years in prison for leading a loan modification scheme that defrauded distressed homeowners. Gotterup pleaded guilty on June 16, 2016, to conspiring to commit wire, mail and bank fraud Read More