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Real Estate & Appraisal Fraud News is an EIN News Service for real estate professionals. Constantly updated news and information about reale state.
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Latest Real Estate & Appraisal Fraud News

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  • Upcoming Paperless Real Estate Transactions 7 Dec 2009 06:19 GMT
    ... home buyers. This is a fact of real estate life that is seldom recognized by consumers. ... It also deters people or companies from fraudulently changing the terms of contracts in cases ... FHA now no longer requires a second appraisal on high-balance loans for properties in declining ...

  • Saving foreclosed homes in north Minneapolis 7 Dec 2009 22:39 GMT
    ... after an investigation uncovered a massive mortgage fraud scheme. The fraud involved $35 million in mortgages ... area. The scam landed the owners of real estate firm TJ Waconia in federal prison for using inflated appraisals to buy and resell the homes to ...

  • How to buy Real Estate with Little or No Money down 5 Dec 2009 07:41 GMT
    ... How to buy Real Estate with Little or No Money down The ... principles of contract law. The Statute of Frauds requires that contracts for real property be in ... by dividing the total mortgages by the appraised value of the property) Seller´s new 1st ...

  • Realtor Organization Opposed FHA Anti-Flipping Rule 1 Dec 2009 11:13 GMT
    ... abetted by a lender's collusion with the appraiser. FHA's policy prohibiting property flipping eliminates the ... and to shut them out of the real estate market. The argument begins with the fact ... at market value! (There will always be fraud, of course; but no set of rules is going ...

  • Prosecutors: Mortgage fraud focus formalizes partnerships 1 Dec 2009 03:32 GMT
    ... a new White House initiative targeting mortgage fraud and other financial crime formalizes partnerships that have been ... cases. Our partners have included the state real estate commission, the banking commission, the appraisal board and the attorney general's office. Their ...

  • Victims of mortgage scam fight foreclosure in court 3 Dec 2009 05:37 GMT
    ... to discover they'd been taken in by fraud. Now they are fighting foreclosure and the loss of ... refinance their homes -- often after inflated appraisals -- and then stole some or all ... the FDIC continued the foreclosure process. A real estate agent even showed up to change the ...

  • The next financial crisis 3 Dec 2009 20:25 GMT
    ... This is all about mortgage servicing fraud. The Kansas Supreme Court knocked out MERS (Mortgage Electronic ... of the borrower relating to predatory lending, appraisal fraud, securities fraud, rescission under all available ... It may contain flaws so contact your real estate attorney. I believe the net result of ...

  • County still has lowest property tax levy in state 3 Dec 2009 21:51 GMT
    ... held steady or increased because Custer County real estate agents and banks kept their heads, James ... said. Else-where, unrealistic speculation, loose lending practices, fraudulent appraisals and cheap money inflated and burst a ...

  • Should FHA loans be pricier? 3 Dec 2009 12:45 GMT
    ... Colder, president of the National Association of Realtors, in her written testimony before the committee. ... underwriting, including instituting procedures that should improve appraisal accuracy. One measure Donovan seems loath to ... programs, known for being a haven for fraud and abuse, its capital reserve ratio would still be ...

  • Should FHA home loans be more expensive? 2 Dec 2009 20:15 GMT
    ... Colder, president of the National Association of Realtors, in her written testimony before the committee. ... underwriting, including instituting procedures that should improve appraisal accuracy. It has also hired new workers ... programs, known for being a haven for fraud and abuse, its capital reserve ratio would still be ...

  • The sweet deal that financed Erik and Angela Osborn's Polo Club home has turned sour 29 Nov 2009 22:54 GMT
    ... ). But this past June, the Colorado Real Estate Commission voted to allow regulators to revoke ... squeeze at least $1.4 million from the fraudulent real-estate deal. , who'd built the lavish home ... and corresponding loan as high as the appraisal would support." The remainder of the purchase ...

  • Lyons: Flipping is the new dirty word 28 Nov 2009 04:30 GMT
    ... to get artificially high or low property appraisals. There were sales to secret business partners ... or loan officers. Some committed such flagrant fraud that they have been sent to prison. Others may ... unless you assume that anyone who flips real estate is a crook rather than, perhaps, an ...


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