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US Supreme Court Rules on Mortgage Fraud Restitution Calculations

WASHINGTON (AP) — The U.S. Supreme Court has clarified how restitution must be computed in mortgage fraud cases. The justices in a unanimous decision Monday said that restitution to a bank that has been defrauded must be calculated based on the value of property when it is actually sold, and not the earlier date on […]

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Idaho Woman Pleads Guilty in HUD Mortgage Fraud Case

U.S. Attorney Wendy J. Olson announced Monday that Sarah Kate Henecke, 35, also known as Alessandra Valencia Toscanelli, of Las Vegas, Nev., plead guilty to making a false statement on a residential loan application to the Department of Housing and Urban Development. Darin Henecke, 37, of Pocatello, and Sarah Henecke’s mother, Karen DeWall Shaw, 60, […]

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Idaho Woman Gets 10 Years For Fraud

A former Bend developer walked out of a federal courtroom on Wednesday facing 10 years in prison, the longest sentence meted out in a wide-­ranging mortgage fraud scheme that rocked the Central Oregon real estate market in the wake of the Great Recession. Shannon Egeland, 39, who now lives in Idaho, must report to authorities […]

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Defendants in Mortgage Relief Scam – $3.6 Million Settlement with FTC

A mortgage modification scam that took advantage of distressed consumers facing possible foreclosure has reached a $3.6 million settlement with the Federal Trade Commission. This settlement represents the FTC’s largest judgment to date against a purported mortgage assistance relief provider. As part of the settlement, the South Florida-based defendants will surrender their assets and be […]

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Taylor Bean, Home America Mortgage Settle $320 Million FCA Suit

Taylor Bean & Whitaker Mortgage Corp. and Home America Mortgage Inc. have agreed to pay over $320 million to settle a False Claims Act whistleblower lawsuit alleging they falsified mortgage applications to secure federally funded insurance for loans that ultimately defaulted, the plaintiffs’ attorneys announced on Monday. The complaint was filed in 2006 by former […]

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7.5 Years for Developer in $22 Mil Mortgage Fraud Case

A Gold Hill, Ore., man who spearheaded a massive mortgage-fraud scheme was sentenced to seven and a half years in prison and ordered to pay $22 million in restitution. Tyler Fitzsimons, 35, was the president of Desert Sun Development, which he formed in 2004 in Bend to orchestrate a real-estate scheme with Shannon Egeland, 39, […]

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