California Real Estate Fraud Report

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Loan Fraud in Bakersfield – “All in the Family”

In Bakersfield, mortgage fraud is allegedly a family affair.

Realtor David Crisp, who owned the former Crisp & Cole Real Estate company along with broker Carl Cole, processed loans on two homes for his mother-in-law  Leslie Sluga, which now are in default according to property records.

Crisp & Cole was named last September in a state regulators’ complaint last fall alleging multiple counts of mortgage fraud. Sluga’s properties, which each carried first and second mortgages, amount to approximately $2 million in loans. Other family members and associates of the company also have properties in default, with Crisp & Cole loans accounting for up to $66.6 million in loans for 107 distressed properties, according to the Bakersfield Californian.

In addition to the complaint brought by the California Department of Real Estate, the FBI is now investigating.

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© Copyright 2007-2017 Monique Bryher

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The information and notices contained on The California Real Estate Fraud Report are intended to summarize recent developments in real estate fraud, mortgage fraud, short sale fraud, REO fraud, appraisal fraud, loan modification scams, loan modification fraud and other real estate related crimes occurring in Los Angeles and California. The posts on this site are presented as general research and information and are expressly not intended, and should not be regarded, as legal advice. Much of the information on this site concerns allegations made in civil lawsuits and in criminal indictments. All persons are presumed innocent until convicted of a crime. Readers who have particular questions about real estate fraud, mortgage fraud and appraisal fraud matters or who believe they require legal counsel should seek the advice of an attorney.

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