billion-dollars

Mortgage Company Chief Indicted In TARP Scheme

A federal grand jury has indicted the head of what was once among the largest privately held mortgage lending companies for allegedly scheming to steal over half a billion dollars from the government’s Troubled Assets Relief Program.

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Mortgage Company Chief Indicted In TARP Scheme

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U.S. mortgage relief program reaches 650,000 borrowers (People’s Daily)

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U.S. mortgage relief program reaches 650,000 borrowers (People’s Daily)

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Law declares wide-ranging war against mortgage fraud (Richmond Times-Dispatch)

Just as security and intelligence agencies were given huge funding boosts by Congress after 9/11, the FBI, the Justice Department, the Secret Service and the U.S. Postal Service have just gotten a combined half a billion dollars in new funding authority to investigate and prosecute individuals and companies who engage in mortgage fraud. President Barack Obama signed the legislation May 20.

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Law declares wide-ranging war against mortgage fraud (Richmond Times-Dispatch)

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Congress funds mortgage fraud crackdown (Los Angeles Times)

The FBI, Justice Department, Secret Service and Postal Service will get a combined half a billion dollars to investigate and prosecute those who engage in mortgage fraud. It may not have made a big splash on network news or in print, but for real estate it was the equivalent of a congressional declaration of war against mortgage fraud.

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Congress funds mortgage fraud crackdown (Los Angeles Times)