California Real Estate Fraud Report

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California Mortgage Fraud Task Force Established

As reported in attorney Rachel Dollar’s Mortgage Fraud Blog, a Mortgage Fraud Task Force has been established in the Eastern District of California in response to worsening conditions in the housing market. Members include the FBI, US Attorney’s Office, the IRS’ Criminal Investigation Division, the Department of Housing and Urban Development (HUD), the US Bankruptcy Trustee’s Office and the California Department of Real Estate (DRE).

<><>Said Drew Parenti, Special Agent in Charge of the Sacramento FBI:  ”Mortgage Fraud has recently been elevated to the FBI’s highest financial crime priority, and we are attempting to address the numerous reports of fraud within the real estate industry that have occurred across the country. We are focusing on the industry professionals (the F Word’s emphasis), the “insiders” who have manipulated the mortgage loan process for their own financial gain. These investigations are lengthy and complicated but we will work with our law enforcement partners and utilize every resource available to us to ensure these cases are investigated and prosecuted to the extent the law allows.”To read statements by the various Task Force leaders, read the Full Article.

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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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