Deirdre M. Daly, United States Attorney for the District of Connecticut, announced that JOSE GUZMAN, 53, of Waterford, was sentenced today by Senior U.S. District Judge Alfred V. Covello in Hartford to 51 months of imprisonment, followed by three years of supervised release, for operating an extensive mortgage fraud scheme in eastern Connecticut. According to court documents and statements made in court, GUZMAN operated a fraudulent mortgage…

MOBILE, Alabama – A federal judge on Monday sentenced a woman to pay restitution to the U.S. Department of Housing and Urban Development as part of an ongoing mortgage fraud prosecution the Midtown Mortgage brokerage. In June, 27-year-old Delaine Williams pleaded guilty to falsifying a mortgage loan application so that it would be approved. It was alleged she falsely indicated that $5,000 for a down payment had come from a gift from a borrower’…

TRENTON, N.J. – A federal grand jury in New Jersey has indicted the developer of three Trenton affordable housing projects for allegedly diverted money intended for the developments, announced New Jersey U.S. Attorney Paul J. Fishman. A federal grand jury returned a 25-count indictment today charging Robert Kahan, 67, of Sunny Isles Beach, Fla., with 10 counts of making false statement in a loan application, three counts of bank fraud…

TRENTON -- Over the course of building affordable housing in Trenton, developer Robert Kahan misstated his net worth in order to obtain huge loans, then skimmed money from the accounts to buy a condominium in Florida and make repairs on his son’s home, a federal indictment alleged today. The 25 count-indictment includes bank fraud, mail fraud, fraud against a local government receiving federal proceeds, and making false statements on a loan…

An Akron man will spend 10 years in prison for leading a mortgage fraud scheme in Northeast Ohio and Florida, according to federal prosecutors. Jack R. Coppenger, 50, appeared in federal court Monday after previously pleading guilty to two counts of conspiracy. U.S. District Judge John Adams called Coppenger an “economic predator” and said he would determine the amount of restitution Coppenger would pay later. The government requested $35…

DOVER — After pleading guilty to defrauding a dozen friends and neighbors, a former school official will serve at least 18 months in prison and must pay about $278,000 in restitution. While the case is tied to other victims, Nickolas Skaltsis, 62, of 6 Erik Drive, waived the indictment process and pleaded guilty to three counts of theft by deception and one count of theft by misappropriation of property. Dover resident Gary Green, who was taken…

Testimony of the Honorable David A. Montoya Inspector General before the United States Senate Committee on Appropriations Subcommittee on Transportation, Housing and Urban Development and Related Agencies on the Federal Housing Administration (6/04/2013)

While the majority of companies promoting FHA reverse mortgages are safe there are some mortgage fraudsters out to take your money, your house, or even your identity. Reading this alert is your best defense. A reverse mortgage allows borrowers to convert part of the equity in their homes into cash without having to sell their homes. To aid in this process, borrowers must meet with an FHA-approved Reverse Mortgage Lender to discuss program…

Goods and services must be procured in an effective manner and in compliance with Federal, State, and local laws.  These laws exist to ensure that funds are awarded through fair and open competition and are spent on eligible and reasonably priced goods and services.  Although the majority of grantees and subrecipients comply with these rules and regulations, we are issuing this bulletin to assist you in identifying potential…

HUD OIG drafted a fraud bulletin outlining potential common reverse mortgage schemes that borrowers may face, along with actions to take and not take if you are considering a reverse mortgage loan.

HUD OIG drafted a bulletin outlining guidance that the Federal Housing Administration (FHA) has provided for borrowers and servicers to implement the forbearance provisions of the Coronavirus Aid, Relief, and Economic Security (CARES) Act.