Bank of America has sued Santa Ana-based First American Title Insurance Co. and a sister firm over its refusal to pay claims on more than 4,500 properties in which owners defaulted on their mortgages.
The suit, filed earlier this month in the bank’s home state of North Carolina, maintains that title ...
Most Recent Articles For: Losses
Written by admin on March 19th, 2010
Written by admin on March 7th, 2010
FEDERAL COURT — A San Diego gang member who federal authorities said was the leader of a massive mortgage fraud scam pleaded guilty yesterday to participating in a racketeering conspiracy involving bank fraud, money laundering and other crimes.
Darnell Bell, 39, faces a maximum of 20 years in prison. Prosecutors said ...
Written by admin on February 25th, 2010
The Orange County District Attorney’s Office reports that real estate losses reported to its special real estate fraud unit amount to $100 million, with over 1,000 victims. The unit, formed only last year, has had 346 referrals to it for mortgage fraud (and presumably, loan modification scams) and real estate ...
Written by admin on February 16th, 2010
It was in the summer of 2008 that Jenn Lofgren first began to suspect that the $80,000 she’d invested in real estate funds was in jeopardy.
The fund managers at Calgary-based Shire International Real Estate Investments Ltd. weren’t returning her calls.
Jenn Lofgren believes the $80,000 she invested with ...
Written by admin on February 8th, 2010
Real Estate Appraiser Sentenced to Three Years in Prison in Mortgage Fraud Scheme That Led to $46 Million in Losses
LOS ANGELES—A former state-licensed real estate appraiser was sentenced today to three years in federal prison and ordered to pay more than $46 million in restitution for her role in a ...
