California Real Estate Fraud Report

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Justice Grinds Slow but Long Beach Mortgage Sales Rep Gets Prison Time

I’m curious when the crimes detailed in this posting came to the attention of the feds.

Joel Blanford, a 44-year old sales rep found guilty of mortgage fraud by a jury, is off to prison after United States District Judge William B. Shubb sentenced him to 30 months plus three years of supervised release.

Blanford was formerly a senior sales representative for Long Beach Mortgage, a wholesale subprime lender and former subsidiary of Washington Mutual Inc . Between April 2003 through October 2005, he was found to have conspired with a loan coordinator, whom he bribed, to provide false information regarding the borrowers’ employment or professional licensing standing, falsify financial documents and to overlook misrepresentations (loan fraud) by the borrowers. Blanford, who was compensated based on the volume of loans processed, earned more than $1 million in commissions and other benefits from Long Beach Mortgage.

The original article, published in 7th Space, does not detail how Joel Blanford was caught, nor does it name the loan coordinator or mention whether that person was prosecuted.

The Blanford case was the product of an investigation by the FBI, Financial Fraud Enforcement Task Force (FinCEN) and the Internal Revenue Service-Criminal Investigation (IRS-CID) and was prosecuted by the office of U.S. Attorney Benjamin B. Wagner.  The prosecutors were Assistant United States Attorneys Paul A. Hemesath and Michael M. Beckwith.

© Copyright 2007-2018 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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