http://www.californiarealestatefraudreport.com This report spotlights real estate professionals and businesses lacking the ethics and conscience to treat their fellow humans in a fair, honest and upstanding manner. It is a clearinghouse for real estate fraud, mortgage fraud, loan fraud and appraisal fraud occurring in California, especially Los Angeles and Southern California. - Monique Bryher Mon, 24 Nov 2008 19:37:30 +0000 http://backend.userland.com/rss092 en Five loan officers from Creative Financial Solutions, Inc. (CF) have pled guilty to wire fire and admitted that CFS, a mortgage brokering company, obtained mortgage loans for unqualified borrowers by submitting false loan applications, false bank statements, and false income documentation. In total, the lenders who funded ... http://www.californiarealestatefraudreport.com/archives/238 Kirk "Mark" Newton appraised more than 200 properties for the now-defunct Crisp and Cole real estate team in Bakerskfield. He is being accused by the state Office of Real Estate Appraisers of misstating measurements of the properties and over-appraised many properties that are now in foreclosure, essentially that he ... http://www.californiarealestatefraudreport.com/archives/235 The San Mateo County Investment Pool has filed a civil lawsuit against executives for Lehman Brothers Holdings Inc., accusing them of concealing information from investors about the firm's losses in the real estate market while taking home lucrative bonuses. The investment pool, which represents public agencies that invested in Lehman, ... http://www.californiarealestatefraudreport.com/archives/230 James B. Duncan and Hendrix Montecastro were two of three principals of a number of companies, two of which, Pacific Wealth Managment and Stonewood Consulting, Inc., are accused by the Securities and Exchange Commission (SEC) of defraud almost 100 investors out of more than $11 million, forcing many of them ... http://www.californiarealestatefraudreport.com/archives/226 Former employees of the now-defunct Estate Financial Inc. (EFI) firm in Paso Robles acknowledge witnessing fraudulent behavior on the part of its principals and possible other employees. Karen Guth and her son Joshua Yaguda were arrested on October 16 at their Pasolivo ranch. They are both in San Luis Obispo County ... http://www.californiarealestatefraudreport.com/archives/224 Appraisal fraud is the rarely mentioned, but often essential, ingredient in real estate fraud or mortgage fraud and other real estate crimes. Without an appraisal justifying the listed price of a home, mortgage fraud cannot occur. In California, one of the most well-publicized stories of real estate fraud and mortgage fraud ... http://www.californiarealestatefraudreport.com/archives/218 Now that the ferocious and inevitable finger-pointing has begun as to who is to blame for the $700 billion corporate welfare bail-out, it's time for those with cool heads and common sense to review the simple laws of nature in business - who controls the purse strings - to see ... http://www.californiarealestatefraudreport.com/archives/212 In the latest example of foreclosure fraud, The California Attorney General's office announced this week that it had filed criminal charges against eight individuals it believed ran a mortgage fraud loan modification ring under the name of First Gov, also called Foreclosure Prevention Services. Homeowner-victims were conned out ... http://www.californiarealestatefraudreport.com/archives/197 A federal judge has ordered Jose Serrano, 45, to pay more than $219,000 in restitution to Washington Mutual Bank (WaMu) and to serve 15 months in prison for his role in a subprime mortgage fraud scam in Stockton. The real estate fraud ring involved the purchase of 10 homes. Washington Mutual ... http://www.californiarealestatefraudreport.com/archives/195 Asian-American investors in Turlock were victimized by real estate broker Bounthavy "Tyler" Manivong, 31, of Livingston, according to investigator Glenn Gully of the Stanislaus County district attorney's fraud unit. Manivong was arrested on suspicion of defrauding a half-dozen Modesto-area victims out of more than $500,000. Accusations include title fraud, ... http://www.californiarealestatefraudreport.com/archives/190