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Mortgages › Wire Fraud

The term "mortgage" typically refers to a mortgage loan.  A mortgage loan is a financing instrument where an individual or business borrows money to purchase property (usually real property) and... more +
The term "mortgage" typically refers to a mortgage loan.  A mortgage loan is a financing instrument where an individual or business borrows money to purchase property (usually real property) and uses that property as collateral for the loan. less -
Robins Kaplan LLP

Your Daily Dose of Financial News

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US banks are reporting that cases of financial abuse of seniors are on the rise. Treasury department data showed a 2-fold increase in suspected cases from just 5 years ago and a 12% increase from just a year ago....more

Ballard Spahr LLP

HUD OIG Update

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The Office of the Inspector General (OIG) for the Department of Housing and Urban Development (HUD) recently issued its Semiannual Report to Congress for the period from April through September 2018....more

Gray Reed

Who Loses When Hacked Emailed Send Wire Transfers to the Wrong Account?

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Excited about closing on his new house, Furst Thyme Byer received emailed wire transfer instructions for his full $250,000 payment from his broker Chad at Chase N Rainbows Realtors. ...more

Robinson+Cole Data Privacy + Security Insider

Privacy Tip #155 - Home Buyers Tricked Out of Down Payments by Scammers

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An old trick is coming back and working. It is a wire fraud scheme targeted at homeowners instead of businesses, and it is happening at an alarming rate....more

Robins Kaplan LLP

Your Daily Dose of Financial News

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The US House included the revised Volcker Rule that we’ve discussed in a broader package of Dodd-Frank reforms that it passed with bipartisan support last night. The bill—ostensibly aimed at easing restrictions on small to...more

Burr & Forman

I Meant it at the Time: Second Circuit Reverses $1.2BN FIRREA Judgment

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It’s hornbook law that a later intentional breach of contract, alone, doesn’t equal promissory fraud. Holding it therefore cannot establish mail or wire fraud, the Second Circuit reversed the Government’s $1.2 Billion FIRREA...more

Goodwin

California Man Pleads Guilty to Criminal Charges Relating to HAMP Modification Scheme

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On May 4, 2016, the United States Attorney for the Southern District of New York and the Special Inspector General of the Troubled Asset Relief Program (SIGTARP) announced that a California man was found guilty of...more

Katten Muchin Rosenman LLP

Corporate & Financial Weekly Digest - Volume X, Issue 24

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In This Issue: - SEC Denies Motion to Stay Regulation A+ - SEC Requests Public Comment on ETPs - CFTC Further Extends Valuation Data Reporting Relief for SDs and MSPs - Eleventh Circuit Upholds...more

Bilzin Sumberg

Wells Fargo Employee Admits Role in $40.8 Million Straw Buyer Scheme

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Last Friday, a former Wells Fargo branch manager, sales manager and loan officer, Robert Serao, pled guilty to conspiracy to commit wire fraud. The charge stems from Serao’s involvement in a $40.8 million mortgage fraud...more

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