Florida Mortgage Fraud

Overall, the company’s annual National Mortgage Application Fraud Risk Index decreased significantly. published by the Washington Post is shedding light on the details of Florida’s part in the.

But the big money is in a trio of major fraud trends: Medicare, mortgage and identity theft-tax refunds. By almost any measure, South Florida is the nation’s organized fraud capital, although.

Occupancy fraud is a scheme used by investors to qualify for higher loan-to-value ratios and lower out-of-pocket costs on purchases, in addition to lower mortgage rates. Occupancy fraud occurs.

Miami-Fort Lauderdale-West Palm Beach saw a 3 percent quarterly decrease of mortgage fraud risk, but the metro still ranked as the most risky in the nation. McAllen-Edinburg-Mission in Texas saw the.

Mortgage fraud has become more prevalent over time and is a particular concern during an economic recession. Upheaval in housing markets, homeowners facing foreclosure and unscrupulous persons looking for easy money all contribute to a climate in which mortgage fraud may occur.

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Owner of Florida Mortgage Company Sentenced to Over 11 Years in Prison for Orchestrating $64 Million Fraud Scheme Two Associates Also Sentenced for their Roles in the Conspiracy The owner of a Florida mortgage company was sentenced today to serve 135 months in prison for orchestrating a $64 million mortgage fraud scheme.

As of May 2018, in the capital of mortgage fraud – a k a Miami, the median price rose 7.7. to pay and collateral that is worth far less than advertised. Current South Florida market conditions are.

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During 2007 and 2008, the defendants conspired to perpetrate a complex mortgage fraud scheme against various FDIC-insured lenders. The defendants conspired to fraudulently obtain mortgage loans for unqualified buyers of units in two condominium projects on the west coast of Florida: Portofino at Largo, also known as Indian Palms, in Largo, Florida; and Bayshore Landing, in Tampa, Florida.

Mortgage Fraud Mortgage fraud is a sub-category of FIF. It is crime characterized by some type of material misstatement, misrepresentation, or omission in relation to a mortgage loan which is.

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