In the NewsIn the Newshttp://www.mortgagefraud.org/in-the-news/2009-08-19T18:58:26ZSquarespaceIn Appraisal Shift (HVCC), Lenders Gain Power and Criticshttp://www.mortgagefraud.org/in-the-news/2009/8/19/in-appraisal-shift-hvcc-lenders-gain-power-and-critics.htmlThe Editor - Ian Shuter - ACFE, DMS2009-08-19T18:55:16Z2009-08-19T18:55:16ZThe following article appeared in the New York Times on August 18, 2009.

Mike Kennedy, a real estate appraiser in Monroe, N.Y., was examining a suburban house a few years ago when he discovered five feet of water in the basement. The mortgage broker arranging the owner’s refinancing asked him to pretend it was not there.

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]]>Riley: agent at the center of $30 million in defaultshttp://www.mortgagefraud.org/in-the-news/2009/7/20/riley-agent-at-the-center-of-30-million-in-defaults.htmlThe Editor - Ian Shuter - ACFE, DMS2009-07-20T15:24:22Z2009-07-20T15:24:22ZThe following article by By Michael Braga & Chris Davis is taken from Sarasota Herald Tribune

Just a few years ago, Mark P. Riley was a rich man. On the back of the real estate boom, he earned enough money to buy a $2 million home in Lakewood Ranch. He and his life partner shared a fleet of luxury cars, including a $300,000 Mercedes Maybach with recliner rear seats and a built-in champagne refrigerator.

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]]>The Victim Who Wasn't There Investors, mortgage fraud may complicate Baltimore's suit against Wells Fargohttp://www.mortgagefraud.org/in-the-news/2009/7/16/the-victim-who-wasnt-there-investors-mortgage-fraud-may-comp.htmlThe Editor - Ian Shuter - ACFE, DMS2009-07-16T19:53:01Z2009-07-16T19:53:01ZThe Baltimore City Paper article by Edward Ericson Jr. was published on July 15, 2007. It describes an ongoing predatory lending lawsuit filed against Wells Fargo by the City of Baltimore and the papers own findings of fraud which in some ways contradict the law suit.

“The most famous example of Wells Fargo Bank’s allegedly predatory Baltimore lending practices stands at 2520 Shirley Ave., in the city’s Greenspring neighborhood.

“This house ain’t nothing but a rat hotel. You know, that’s all it is, nothing but a rat hotel,” Stephen Faison, who lives next door to the trash-strewn hulk, told a CNN camera for a June 11 broadcast. “Don’t nobody even live here.”

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]]>SF: Supervisors to introduce mortgage fraud legislationhttp://www.mortgagefraud.org/in-the-news/2009/7/7/sf-supervisors-to-introduce-mortgage-fraud-legislation.htmlThe Editor - Ian Shuter - ACFE, DMS2009-07-07T20:06:15Z2009-07-07T20:06:15ZTwo San Francisco supervisors will introduce legislation today to help address what they say is the growing problem of mortgage fraud, particularly among low-income residents and communities of color.

The new law, if passed, would enact stricter rules about how third-party loan modification consultants can provide services.

CBS 5 Local Wire

]]>Father, daughter accused of real estate fraudhttp://www.mortgagefraud.org/in-the-news/2009/7/7/father-daughter-accused-of-real-estate-fraud.htmlThe Editor - Ian Shuter - ACFE, DMS2009-07-07T16:25:04Z2009-07-07T16:25:04Z