Skip to main content

Mortgage Fraudster Extradited From Ireland

Nov 13, 2017
The old joke about the long arm of the law became a reality for Patrick Lee, a Massachusetts resident who was extradited from Ireland to face federal mortgage fraud charges

The old joke about the long arm of the law became a reality for Patrick Lee, a Massachusetts resident who was extradited from Ireland to face federal mortgage fraud charges.
 
According to U.S. News & World Report, Lee holds dual U.S.-Irish citizen and has lived in Ireland since 2007. In 2011, he was indicted on federal charges of mortgage fraud related to the use of forged mortgage applications and property appraisals in the acquisition of Boston properties between 2005 and 2007. The properties went into foreclosure, resulting in losses for the lenders.
 
Lee’s extradition is the first since 2012 for the return of a U.S. citizen from Ireland. Lee’s attorney stated that he intends to enter a not guilty plea.

 
About the author
Published
Nov 13, 2017
Mortgage Servicers Added To Junk-Fee Naughty List

New release from CFPB lays out areas of improvement, and concern, for mortgage servicers.

In Wake Of NAR Settlement, Dual Licensing Carries RESPA, Steering Risks

With the NAR settlement pending approval, lenders hot to hire buyers' agents ought to closely consider all the risks.

A California CRA Law Undercuts Itself

Who pays when compliance costs increase? Borrowers.

CFPB Weighs Title Insurance Changes

The agency considers a proposal that would prevent home lenders from passing on title insurance costs to home buyers.

Fannie Mae Weeds Out "Prohibited or Subjective" Appraisal Language

The overall occurrence rate for these violations has gone down, Fannie Mae reports.

Arizona Bans NTRAPS, Following Other States

ALTA on a war path to ban the "predatory practice of filing unfair real estate fee agreements in property records."