Posts Comments

South Florida Business Journal Mentions MFI-Miami Owner

December 29, 2009 By Leave a Comment

A new article from the South Florida Business Journal quotes Steve Dibert, founder of MFI-Miami and MFI-Mod Squad.

In July, the South Florida Business Journal reported Miami-Dade County’s Mortgage Fraud Task Force was handling more than 200 cases of loan modification fraud and that the Miami-Dade office of the FBI had the second-highest number of mortgage fraud reports in the country last year at 5,155.

While the new law isn’t going to eliminate loan modification scams completely, it will make it more difficult, said Steve Dibert who started MFI-Mod Squad, a privately funded loan modification investigative firm in Boynton Beach.

Read the rest of the article…

Share
Filed Under: Mortgage Fraud News Tagged With:

Aurora High Risk Specialist Fired After Cooperating With An FBI Investigation

December 29, 2009 By Leave a Comment

Denver Business Journal – by Greg Avery

A former employee of Aurora Loan Services LLC alleges in a lawsuit filed Monday that the company fired him in retaliation for helping federal investigators who were looking into one of its loans.

Michael Walker filed the lawsuit in Denver District Court against the Littleton-based company, a Lehman Brothers subsidiary that wrote billions of dollars’ worth of mortgage loans later bundled into mortgage-backed securities sold by the investment house.

A request for comment has been left with Aurora Loan Services’ attorney.

Walker’s suit says he was a former “high-risk specialist” in quality control at Aurora Loan Services LLC, a job that involved reviewing loans for signs of fraud and misrepresentation.

In early 2006, Walker filed a “suspicious activity report” with the FBI noting suspicions he had about documentation for a loan being processed for a multiple-unit residential property. Such reports are a routine obligation of financial institutions, the suit says. (Read more)

Share
Filed Under: Mortgage Fraud News Tagged With:

FL Supremes Issue Final Report On Residential Mortgage Foreclosure Cases – Hands Down Ruling

December 29, 2009 By Leave a Comment

The Florida Supreme Court’s Residential Mortgage Foreclosure Cases Task Force issued it’s final report and an administrative ruling was immediately handed down.

The two main actions taken by the ruling requires mandatory mediation for all primary and tenant occupied homes and the Original Note must be produced prior to foreclosure.  If not they must provide to the court proof a good faith effort was made to locate it.  Read it here

Share
Filed Under: Mortgage Law Tagged With: ,

FL Supreme Court Requires Mediation in Foreclosures

December 29, 2009 By Leave a Comment

Susan R. Miller, South Florida Business Journal

Plagued by an ever-increasing number of foreclosure cases, Florida judges now have guidance on how to deal with them through a statewide mediation program.

Florida’s Chief Justice Peggy Quince signed an order designed to alleviate the backlog. Click here to read the order.

It adopts recommendations by the court’s Task Force on Residential Mortgage Foreclosure Cases that was created earlier this year.

Foreclosure filings in Florida trial courts are expected to hit 456,000 statewide by the close of the year.

Foreclosure have been especially troublesome in Central Florida, which was among the 10 largest metro areas with the highest foreclosure rates for the month of November, RealtyTrac reported.

The Orlando area was No. 8 in the nation, with one in every 120 housing units receiving a foreclosure notice — notice of default, notice of auction or bank repossession — last month.

“The crisis continues unabated,” the order notes. (Read more)

Share
Filed Under: Mortgage Law Tagged With:
« Older Posts