Mortgage Scandal

Wells Fargo fined record $1B over mortgage, auto-loan abuses – . regulators related to auto-loan and mortgage practices that harmed customers.. Wells Fargo's fake account scandal started last year.

It is important to know what condition would it classify as mortgage fraud and know about the common schemes and scams you should avoid.

5 1 Arm Rates History 5-1 Hybrid adjustable-rate mortgage (5-1 Hybrid ARM) Definition – A 5-1 hybrid adjustable-rate mortgage (5-1 hybrid ARM) begins with an initial five-year fixed-interest rate, followed by a rate that adjusts on an annual basis. The "5" in the term refers to the.

Mortgage Fraud | Texas Department of Banking – Mortgage fraud is committed if a person intentionally or knowingly makes a materially false or misleading written statement to obtain a mortgage loan. Examples of criminal mortgage fraud includes, but is not limited to, illegally inflating property appraisals; concealing a second mortgage from a.

Adjustable Rate Loan Adjustable rate mortgages generally have lower interest rates than fixed rate loans for the first five years, so getting a 5/1 ARM could save you a considerable amount in interest. 5/1 ARMs are often seen as a good choice for home shoppers who plan to live in their home for five years or less.

U.S. Pursues One of the Biggest Mortgage-Fraud Probes. – At issue in an investigation by the FBI and other federal agencies is whether income from apartment complexes was falsified to support larger loans, which often became part of mortgage securities.

The Mortgage Fraud Scandal Is The Biggest In Human History – The Mortgage Fraud Scandal Is The Biggest In Human History. L. Randall Wray, Benzinga. Oct. 14, 2010, 9:30 PM The letter F. An image of a chain link. It symobilizes a website link url.

Mortgage Fraud | FinCEN.gov – Suspected Mortgage Fraud News Releases. Third Quarter Reports of Mortgage Fraud Up Slightly (01/06/2011) HTML | PDF Mortgage Fraud Suspicious Activity Reports Rise (12/14/2010) HTML | PDF Department of Justice/FBI los angeles field office news Release: Financial Fraud Enforcement Task Force Holds Mortgage Fraud Summit in Los Angeles (9/30/2010) HTML Only

First American: Mortgage fraud risk climbs 4.6% in January – In January, declining mortgage rates mixed with higher loan applications led to more risk of fraud and other errors in the home loan applications, according to the latest First American Loan.

Mortgage fraud is rampant, and while constantly addressed, cannot be stopped. Everyone involved in the mortgage industry, from the borrower to the mortgage lender, has probably seen or been a part of a mortgage scam at some point.

Mortgage fraud – Wikipedia – Mortgage fraud is a crime in which the intent is to materially misrepresent or omit information on a mortgage loan application in order to obtain a loan or to obtain.

Mortgage Fraud Prevention – Fannie Mae – Mortgage Fraud Prevention. Fannie Mae is committed to preventing mortgage fraud whether perpetrated by a borrower, a lender, or another person or institution. We offer a variety of resources to help you detect and prevent mortgage fraud. If you have any suggestions or questions, please contact the Mortgage Fraud Program or your Customer Account.

Tommy Robinson, former EDL leader, jailed for fraud – bbc.com –  · Former English Defence League leader Tommy Robinson, whose real name is Stephen Lennon, is jailed over a £160,000 mortgage fraud.