Skip to main content

Nevada Man Jailed for Misdirecting Mortgage Payments to His Own Pocket

Aug 11, 2011

The Office of the Nevada Attorney General has announced that a local man was sentenced to prison in connection with a mortgage scam involving Nevada homeowners. Judge Linda Bell sentenced Joseph Lawrence Yorkus to a maximum of 102 months with a minimum of 24 months in the Nevada State Prison and ordered him to pay restitution to the victims in the amount of $346,155.15 for schemes relating to mortgage fraud, mortgage rescue fraud, credit repair and collection enterprises. “Mr. Yorkus took advantage local homeowners who were already struggling to make their monthly mortgage payments,” said Attorney General Catherine Cortez Masto. “He stole those payments and placed these homeowners in peril of losing their homes.” Yorkus created several businesses, including Great Western Business Services, Sundance Consulting, BAC Collections, Learn Your Rights and Fresh Start Consulting, and used them to obtain money from unsuspecting homeowners, placing them in jeopardy of losing their residences. He pled guilty to one count of mortgage fraud for his part in sending correspondence to local homeowners advising them that their mortgages, which were legally held by Bank of America, had been transferred to his company, Great Western, and advised them that all future mortgage payments should be made to Great Western.
About the author
Published
Aug 11, 2011
CFPB Proposes To Ban Medical Debt From Credit Reports

CFPB expects the rule would allow 22,000 additional mortgages to be approved every year.

Manufacturing Fair Lending

How data defines a modern theory of redlining

A Watershed Moment For Trigger Leads

Pending legislation collars controversial data sharing practice

CFPB Unveils Lender Naughty List For Repeat Offenders

CFPB calls out nonbanks that have broken consumer protection laws

Is It A Deal Or Chicanery?

Negotiating EPOs with lenders

Attorney Opinions Don’t Count

Title waiver pilot, unregulated title alternatives a risky game for lenders and taxpayers