Freddie Mac alerts real estate agents to rising short sale fraud

A real estate agent named Edgar Tibakweitira, who also went by the. He defrauded lenders, the federal housing authority, Fannie Mae and Freddie Mac of nearly $2.5 million.. The FBI warns that mortgage fraud is a growing crime threat that is. For example, recent comparable sales in the area and tax.

Fitch warns home prices overvalued As home prices continue to climb in Dallas-Fort Worth, fitch ratings’ latest quarterly sustainable home price report says North Texas homes are overvalued by 10 to 14 percent. The rating comes after.

Fannie Mae and Freddie Mac Do HAFA Freddie Mac is the co-chair of the Loan Modification Scam Prevention Network that is working with the new financial fraud enforcement Task Force and others to track and prosecute mortgage fraud.. Short Sale Fraud.. Seek the assistance of a licensed real estate professional to represent you.

Real Estate Agent Sent to Prison for Short Sale Fraud. Sanchez recommended that the seller undertake a short-sale of his home using Sanchez ‘s son as the straw buyer. The seller, acting on Sanchez ‘s advice, submitted to Tri Counties Bank and Freddie Mac false and fraudulent short-sale applications, and caused these financial institutions.

The number of homes for sale has fallen over the past year. A top complaint of some real-estate agents today is that there aren’t. to a costly "buy-back" demand from Fannie Mae, Freddie Mac or.

 · Three charged in real estate fraud scheme. The charges state the Federal Housing Administration lost more than $300,000 in transactions for three properties. The mortgage insurer, Freddie Mac, also lost about $164,000 insuring the transactions for two properties, according to prosecutors. Mortgage association Fannie Mae was allegedly also defrauded out of more than.

Fannie Mae: Consumer spending growth to pick up in Q2 Consumer debt shouldn’t really exist at all – it’s simply a house of cards that allows impatient people to pull their consumption from the future, just a teeeeny bit forward into the present, in exchange for spectacularly bad costs, stress, and wrecking of lives.

Hillary Clinton on CFPB: Why would you get rid of that? Hillary Clinton, the democrat presidential nominee gave a speech Thursday in Warren, Michigan, and unsurprisingly, housing was barely mentioned once again. This speech follows the economic speech from.CoreLogic Launches Short Sale Fraud Watchdog Technology Whoa! HW30, markets bleeding red HW30 is a very well made air rifle,low cocking effort and velocity make it great for backyard target practice. I would get one in .177,it makes the most of that gun. #3671109 – 01/12/10 Re: Weihrauch HW30S?While agents have been able to use Equator’s platform for their distressed properties and short sales, REvolution will allow them to manage all of their properties-REO, short sale, and.

is a more sophisticated version of mortgage fraud because it involves real estate agents, appraisers, lenders, and closing agents or attorneys. Some examples of fraud for profit include flipping, straw buyers, bogus sales, inflated appraisals, and air loans.

Freddie Mac requires the real estate agents, buyer, seller, escrow agent, and any third-party negotiators to sign an arm’s-length affidavit shortly before or at closing. Considerations

Now let’s look at what Freddie Mac’s "opinion" of how fraud is enacted. A seller (delinquent borrower) owes $100,000 on a property that is worth $80,000. Hmmm..I wonder how that value is obtained. Oh yeah it’s by a lender designated real estate agent who gets a few bucks for giving a BPO. No investor representations here.

S&P/Case-Shiller: U.S. home prices fall 2.4% The S&P CoreLogic Case-Shiller U.S. national home price index tracks the value of single-family housing within the United States. The index is a composite of single-family home price indices for.Allstate sues JPMorgan Chase over sale of toxic RMBS Allstate Sues JP Morgan, WaMu and Bear Stearns Over Sale of. – Allstate Sues JP Morgan, WaMu and Bear Stearns Over Sale of RMBS Posted on February 22, 2011 On February 16, 2011, several Allstate Insurance entities filed a complaint against a number of JP Morgan, Washington Mutual and Bear Stearns entities and certain Washington Mutual directors and officers in the Southern District of New York.

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