Mortgage Fraud | Real Estate Blog of Schecter Law, PA

Posts Tagged ‘mortgage fraud’

Mortgage Fraud Resources for Florida Homeowners

August 24th, 2010

By Mark Schecter | 1 Comment »

mortgagefraud We have discussed mortgage fraud a couple of times on this blog.

In April 2010, a report by LexisNexis Mortgage Asset Research Institute indicated Florida had the most cases of mortgage fraud in the nation.

In June, 86 South Floridians were arrested for falsifying documents to secure fraudulent loans, which resulted in a loss of nearly $80 million.

And according to the SFBJ, “last week, four area residents pleaded guilty to participating in a $2.5 million mortgage fraud ring. A week earlier, a former attorney and three mortgage brokers were charged in a $6 million scam. That same week, a Miami federal jury found two women guilty in a $21 million mortgage fraud scheme.”

A recent report from MortgageDaily.com shows that the state no longer has the highest rate of mortgage fraud in the nation and is second to California with nearly $436 million in claims filed.

What is Florida doing to Protect Homeowners?

Attorney General Bill McCollum has taken aggressive action to cut down mortgage and foreclosure fraud in the state.

In 2007, he started the Mortgage Fraud Task Force and has since reached out to state agencies, law enforcement, and attorneys for help developing a collective approach to protect Florida homeowners.

Since 2007, the task force has reviewed the practices of more than 200 foreclosure rescue businesses, and is presently handling more than 50 active investigations and a few pending lawsuits.

If you feel you have been wronged or taken advantage of by a foreclosure rescue company, you will be happy to know the Attorney General’s office has streamlined the process for reporting incidents of fraud. You can now submit complaints using this online form.

Other mortgage fraud resources include:

Attorney General of Florida
Consumer Protection
The Capitol PL-01
Tallahassee, FL 32399-1050
Phone: (850) 414-3300
Consumer Hotline: (866) 966-7226
Web: http://myfloridalegal.com/consumer

Florida Department of Business and Professional Regulation
Division of Real Estate
Consumer Complaints Section
400 West Robinson Street, Suite N801
Orlando, FL 32801-1757
Phone: (850) 487-1395
Email: Call.Center@dbpr.state.fl.us
Web: http://www.myflorida.com

FBI Field Offices

Miami Division
White Collar Crime Program
16320 NW 2nd Avenue
North Miami Beach, FL 33169-6508
Phone: (305) 944-9101
Email: miami@ic.fbi.gov
Web: http://miami.fbi.gov/

Tampa Division
White Collar Crime Supervisor
5525 W. Gray Street
Tampa, FL 33609
Phone: (813) 253-1000
Email: tampa.division@ic.fbi.gov
Web: http://tampa.fbi.gov/

U.S. Department of Housing and Urban Development (HUD)

Miami Field Office
Brickell Plaza Federal Bldg.
909 SE First Avenue
Miami, FL 33131
Phone: (305) 536-5678
Email: FL_Webmanager@hud.gov
Web: http://www.hud.gov

Tampa Field Office
500 E. Zack Street, Suite 402
Tampa, FL 33602-2945
Phone: (813) 228-2026

Do you have questions for our Fort Lauderdale real estate lawyers? You can email our firm or give us a call at (954) 779-7009.

Tags: Attorney General, Florida, mortgage fraud, resources
Posted in Broward Real Estate, Fort Lauderdale Real Estate, Real Estate Law | 1 Comment »

South Florida Real Estate News: Week Ending February 26

February 27th, 2010

By Mark Schecter | No Comments »

Mortgage Fraud Summit in South Florida

The first mortgage fraud summit will take place in South Florida. The Financial Fraud Enforcement Task Force chose Florida because it is among the worst states in the nation when it comes to the mortgage fraud crisis. According to a recent report from U.S. Financial Crimes Enforcement Network, South Florida is number one for residents involved in mortgage fraud related activity.

The agenda of the summit lists not only fraud schemes, but also predatory lending and other criminal acts against current and future Florida homeowners. Currently, there are 23 task forces at work in our nation and 67 mortgage fraud groups.

Hundreds Turn Out for Mortgage Modification Seminar

During a recent loan modification seminar, the Palm Beach County Convention Center was extremely busy and packed with homeowners desperately trying to modify their mortgages. There were people from Florida, the west coast and mid states in attendance.

Many homeowners are feeling the financial pressure and attended the seminar to get answers to their questions along with some sort of relief from the steep prices and terms that they have to deal with.

Some lenders’ failure to be straightforward with their clients and discuss their options has led many homeowners to seek help through seminars and conventions. Although travel costs can be expensive, the end result may be worth it if these individuals are able to modify their mortgages and/or discover better options.

Florida Cracks Down on Home Loan Rescue Companies

State regulators in Florida are cracking down on unlawful loan mortgage rescue companies. Several operations in South Florida have been ordered to stop their practices immediately due to recurring illegal activity.

As of January 1st 2010, loan modifiers, originators and lenders were all mandated to have a state mortgage broker’s license. As for upfront fees, they have been prohibited since 2008 although some businesses continue to operate by disobeying these laws. This is a welcome enforcement that will likely ease the minds of South Florida homeowners.