Academy Mortgage Settles Underwriting Fraud Lawsuit For $38.5M
Utah-based company accused of improperly originating and underwriting mortgages insured by FHA.
Utah-based company accused of improperly originating and underwriting mortgages insured by FHA.
Alex Ashod Dadourian convicted on 91 counts for $8 million in mortgage fraud.
Plead guilty to defrauding Fannie Mae, insurers of over $3.5 million.
The settlement will be one of New Jersey’s largest civil recoveries in the state’s history.
CoreLogic report, however, says certain types of fraud are increasing.
Edward E. Bohm of Long Island-based Vanguard Funding, sentenced to two years in prison, plus restitution.
Along with two real estate agents, MLO submitted false info for 30 properties.