Maryland Mortgage Fraud Task Force members highlighted their progress and plans in a press conference today, [Press Release] including the filing of criminal, civil, and regulatory actions against more than 250 individuals and companies in 2009.

U.S. Attorney Rod J. Rosenstein said, “The Mortgage Fraud Task Force, established in 2009, aims to punish past offenders and deter future violations. Local, state and federal regulatory and investigative agencies are working together to identify mortgage fraud schemes and pursue the various enforcement tools available to our partner agencies. More than 50 individuals and businesses have been charged with criminal mortgage fraud offenses in federal and state courts this year, and many of them have been convicted and sent to prison. Partner agencies also have filed civil and administrative actions to shut down unlawful schemes. With the additional resources now devoted to mortgage fraud, we expect even more cases to be prosecuted in 2010. Our priorities include pursuing mortgage brokers, lawyers, accountants, appraisers and other professionals who generate fraudulent loans as well as con artists who market fraudulent ‘foreclosure rescue’ and ‘loan modification’ services.”

“The FBI is committed to collaboration with our Mortgage Fraud Task Force partners in order to detect, investigate, and prosecute criminals who perpetrate mortgage fraud in Maryland,” said FBI Special Agent in Charge Richard A. McFeely.

“I am pleased that the Federal Deposit Insurance Corporation (FDIC) Office of Inspector General can play a role in helping to ensure the integrity of the financial services and housing industries. To this end, we have joined our law enforcement and Inspector General community colleagues to participate in the Maryland Mortgage Fraud Task Force,” said Jon T. Rymer, Inspector General, Federal Deposit Insurance Corporation. “In doing so, we leverage the resources needed to successfully combat mortgage fraud and rid the industry of those seeking to undermine the soundness of financial institutions and stability of our nation’s housing market. I congratulate the task force on today’s announcement, which demonstrates the government’s unflagging efforts to see that justice is served.”

Please note that for ease of indexing and reading search results the Recently Filed Cases which make up the rest of this announcement have been given their own entries -  click the link to read them or browse the Journal entries just prior to this one.

• State of Maryland v. David Young Park
• United States v. James Fox II and James Dan
• United States v. Daniel Fink, Jr.
• Commissioner of Financial Regulation acts against loan originator
• Various Loan Modification cases brought by Maryland Attorney General
• Various cases brought by Maryland DLLR - Division of Financial Regulation