Nine criminal complaints were unsealed that charged 28 individuals with participating in various mortgage fraud scams that collectively sought to defraud lenders out of more than $5.5 million and involved more than 17 New Jersey properties, U.S. Attorney for the District of New Jersey Paul J. Fishman and FBI Special Agent in Charge Michael B. Ward announced.Read more

Fannie Mae has launched the first three in a series of “Five Step” guides, offering useful information for current homeowners, those interested in purchasing a home and homeowners who may be struggling with their current mortgage. Each guide focuses on a different topic and provides five specific tips. The first three guides released today provide tips on the following subjects:Read more

NeighborWorks organizations around the United States are holding more than 150 events during national NeighborWorks Week (June 5-12, 2010) to inform tens of thousands of homeowners on how to avoid and report mortgage modification scams. The events include hundreds of volunteers canvassing neighborhoods with tip-sheets and flyers, dozens of one-on-one and group workshops about reputable mortgage modification programs, and more.Read more

As you know, real estate is a people profession. From the real estate agents in the field, to the loan officers or loan processors working with borrowers, to the title agents sitting down with families closing on their first home, we are people serving people. Those who would commit fraud know this, perhaps even better than we do. In addition, like those of us who are legitimately doing good business in the real estate finance industry, they need people to pull off their scams. What kind of people? Willing people, that’s who.Read more

The following statement was released today by Jeffery Markowitz, vice president of government and industry relations, Freddie Mac in support of the Columbus, Ohio launch of the “Loan Modification Scam Alert” campaign by a coalition of federal agencies, non-profit organizations, and Freddie Mac: “Loan modification fraud is nothing less than a pre-meditated attack on our communities and the housing recovery.Read more

The Federal Deposit Insurance Corporation (FDIC) has announced that it is releasing a free toolkit of information that will help borrowers, community stakeholders and the banking industry avoid unnecessary foreclosures and stop foreclosure "rescue" scams that promise false hope to consumers at risk of losing their homes. The tool kit includes critical information to help borrowers know who to contact and what documents they need to have available to apply for a loan modification that could save their home from foreclosure.Read more