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Fraud Category

Mortgage Servicing Company Refinancing

The servicing mortgage company is the company to whom you make your payments. The servicing mortgage banks often benefit from the belief you can save time and money refinancing with them. Refinancing with your current servicing mortgage company gives you no guarantee of cost or time savings! But mortgage shoppers don’t know that. Another misguided [...]

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Adam Hochfelder, a New York real-estate investor, was indicted for allegedly defrauding “more than $17 million from a panoply of banks and individuals” according to the Wall Street Journal today bringing mortgage fraud to new heights. Hochfelder, a sort of “wonderboy” in the 1990s buying coveted investment properties, faces at least a 25 year sentence. [...]

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The Texas Attorney General arrested four this week who brazenly continued their mortgage fraud operation while out on bail. Authorities re-arrested the mortgage fraud gang adding additional charges to earlier indictments. Texas Mortgage Fraud Continues The Texas Attorney General released a press release announcing new charges for a previously indicted mortgage fraud gang saying, “The [...]

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Mortgage Lock Fraud Abounds

Mortgage originators tell you your mortgage lock is in force when it is NOT. Lying about your mortgage lock status is a common practice to increase loan revenue or cover loan officer mistakes. Loan officers are always trying to make the most yield spread revenue on every mortgage. Telling you the mortgage lock is placed [...]

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Real Estate Agent Mortgage Referral Pitfalls

Using a referral from a real estate agent to locate your mortgage company is very common and very dangerous. When it comes to getting the best mortgage provider and the best deal, real estate agent referrals can cost you dearly! A referral from an agent assumes the agent knows more about the mortgage process than [...]

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