California Real Estate Fraud Report

You have just entered the #1 private-sector resource on the Internet for real estate fraud. In doing so, you have voluntarily left the dimension of the conventional real estate world and crossed over to the Dark Side, the realm where greed, dishonesty and evil are the order of the day. Sign up for a free subscription to this comprehensive news resource and receive weekly, timely news reports about real estate fraud, mortgage fraud, short sale fraud, REO fraud, title fraud, loan fraud, appraisal fraud, affinity fraud, loan modification scams, securities fraud and elder financial fraud. *** AS OF NOVEMBER 2017, THE CALIFORNIA REAL ESTATE FRAUD REPORT IS 10 YEARS OLD! ***


Former GMAC Loan Officer Charged in Mortgage Fraud Case

Penny O’Malley, a former loan officer with GMAC Mortgage has been charged with conspiracy, grand theft and other crimes after an investigation by the U.S. Department of Housing and Urban Development determined O’Malley conspired with her stepmother, Ellen Flores, to falsify the loan application for an unqualified buyer.

According to Kern County Deputy District Attorney Gordon Isen, both O’Malley and Flores have been charged with a total of 11 felonies, which, after he amended the original complaint, now include perjury and obtaining money by false pretenses.

The charges stem from a loan made to Consuelo Herrera, who wanted to purchase a home in southeast Bakersfield. O’Malley is alleged to have convinced her stepmother to provide information on the loan application stating that Herrera worked at a liquor store owned by the stepmother’s husband. Herrera was unemployed at the time. The loan, made in 2006, defaulted just two years later but wasn’t discovered by HUD investigators until 2010.

Read the original article in the Bakersfield California.


© Copyright 2007-2018 Monique Bryher

Legal Disclaimer.

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.

ALL RIGHTS RESERVED. No part of this publication may be reproduced or transmitted in any form or by any means, electronic or mechanical, including photocopying, recording or by any information storage and retrieval system, without written permission from the author, except for the inclusion of BRIEF QUOTATIONS in a review.


Copy Protected by Chetan's WP-Copyprotect.