HARTFORD — A federal jury took less than an hour Tuesday to find Deowraj Buddhu guilty of running a debt-reduction scam that left his financially struggling victims with deeper money troubles. Buddhu, 70, of Wethersfield was found guilty of six counts of mail fraud and seven counts of "fictitious obligations." The verdict was announced shortly before 3:30 p.m. after the jury had deliberated for about 50 minutes. It followed nine days of…

Remember when federal Judge Jed Rakoff scared the bejesus out of Wall Street in 2011? That’s when he refused to sign off on a $285-million civil settlement between Citigroup and the Securities and Exchange Commission over a massive mortgage fraud case.

BIRMINGHAM, Alabama - A former real estate lawyer from Birmingham was sentenced today to two years in prison for wire fraud in a mortgage scheme that exceeded $1 million over five years.

The Harris County Housing Authority could be forced to pay back millions of dollars to the federal government following an audit by the U.S. Department of Housing and Urban Development. The regional inspector general for HUD concluded the county housing authority had mismanaged up to $27.5 million in federal funds and ignored a $3.8 million debt. It recommended policy changes, administrative actions against individuals at fault and for the…

(Source: HUD) -- The nation’s largest mortgage servicers have failed eight of the servicing standards in the National Mortgage Settlement according to a report released by Joseph A. Smith, Jr., Monitor of the National Mortgage Settlement. The Monitor’s testing through the end of last year resulted in three testing fails, and there are five additional fails in 2013. The following is a statement released today by HUD Secretary Shaun Donovan:

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)

The United States Attorney, Kenyen Brown, announces that a one-count information was returned today by a Federal Grand Jury against Delaine Williams, a 25 year old resident of Satsuma, Alabama. Williams was charged with one (1) count of providing false information to a federally insured institution in connection with mortgage loan application.

News-Herald.com A Kirtland man was sentenced Tuesday to two years in prison for being part of a mortgage fraud scheme that cost lenders more than $2.2 million. Kevin D. Barcomb, 39, was also ordered to pay the entire amount of restitution to lenders after his release at a rate of no less than 10 percent of his gross monthly income.

lohud.com YONKERS — The city is cleaning up from years of shoddy record keeping and seeking millions of dollars from delinquent borrowers in a troubled federal job-creation loan program. In a report Monday, Yonkers Inspector General Kitley Covill documented the city’s progress collecting back due payments and improving internal management of its discontinued Department of Housing and Urban Development Section ...

The New York Times Attorney General Eric Schneiderman of New York announced this week that he plans to sue Bank of America and Wells Fargo for failure to adhere to the terms of a $26 billion settlement that was supposed to provide relief to homeowners and end foreclosure abuses...

KBAK Eyewitness News BAKERSFIELD, Calif. (KBAK/KBFX) — A Los Angeles man pleaded guilty Monday to bank fraud in connection with a mortgage fraud scheme in Bakersfield, according to federal prosecutors. Nine people were named in an indictment last summer. Ricardo Fabian Salinas, 34, is scheduled for sentencing next winter, following his plea entry Monday. The maximum sentence for bank fraud is 30 years in prison...

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