Mortgage News

Kevin Carey, 48, Middleboro, Massachusetts, a former Somerville real estate attorney, was indicted in connection with allegedly making false statements on mortgage applications and associated documents and using the funds secured from the loans for his own purposes, rather than paying off existing loans as directed by the new lenders.  Carey is charged with Larceny over $250 (8 counts) and Willfully Making a False Statement Regarding Financial Condition or Assets (7 counts). 

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Original post by default@goarticles.com (Simon Burgess)

Michael J. Armitage, 55, Pittsfield, Massachusetts and Fort Myers, Florida, was charged in an Indictment with three counts of false statements to a federally insured financial institution, three counts of bank fraud and one count of engaging in a monetary transaction in property derived from specified unlawful activity.

The Indictment alleges that between February 2001 through April 24, 2006, Armitage executed a series of schemes to defraud United Bank, …

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Original post by default@goarticles.com (D.K. Fynn)

Eleven people were indicted in a mortgage scheme involving 21 homes in the Boston, Massachusetts area:

Eric L. Levine, 55, Brookline, Massachusetts, a suspended attorney, was charged withe one Count of Conspiracy to Commit Wire Fraud (Maximum penalty: 5 years imprisonment, $250,000 fine, 3 years supervised release, and $100 special assessment), forty one Counts of Wire Fraud (Maximum penalty for each count: 20 years imprisonment, $1 million fine, 5 years supervised release, …

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Original post by default@goarticles.com (Glenn Fydenkevez, President, MasterPlan Capital LLC)

Lester W. Firstenberger, a Massachusetts attorney, appealed a judgment suspending him from the practice of law for six months and one day. The judgment was affirmed by the Appellate court.

Massachusetts Bar counsel filed a petition for discipline charging Firstenberger with misconduct in failing to disclose the existence of a second mortgage on a loan application, concealing the existence of the second mortgage from the first mortgagee, securing a mortgage discharge from …

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Original post by default@goarticles.com (Steve Hood)

Massachusetts Attorney General will hold hearings across the state next week on amendments her office has proposed to current mortgage lender and mortgage broker regulations to address unfair and deceptive tactics used in the mortgage industry.  The proposed amendments, which were announced last month, are aimed at curbing practices in the mortgage industry which have contributed to the current foreclosure rescue crisis in Massachusetts.

The Attorney General’s Office anticipates that various elected officials, advocacy …

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Original post by default@goarticles.com (Allison Thompson)

Attorney General Martha Coakley has filed a proposed settlement with the U.S. Bankruptcy Court in Boston, Massachusetts, with five mortgage lenders that funded loans which facilitated fraudulent foreclosure rescue transactions orchestrated by Brockton, Massachusetts attorney Alec Sohmer. The Attorney General, together with the Chapter 7 trustee in Sohmer’s bankruptcy case, have requested bankruptcy court approval of the settlement, which impacts 26 residential properties that are part of Sohmer’s bankruptcy case. The Attorney General …

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Original post by default@goarticles.com (Anirban Bhattacharya)

Attorney General Martha Coakley has filed a regulation with the Secretary of State’s Office that permanently bans for-profit foreclosure rescue transactions in the Commonwealth. The Massachusetts Consumer Protection Act authorizes the Attorney General to promulgate regulations to identify unfair or deceptive conduct that violates the act.  The new regulation prohibits predatory, for-profit foreclosure rescue transactions.  Foreclosure rescue transactions between family members or arranged by a non-profit community or housing organization are not banned under this regulation. …

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Original post by default@goarticles.com (Paul Blacquiere)

Laura Andersen, 48, Massachusetts, is charged with conspiring with her husband, Anthony J. Andersen, in a mortgage fraud scheme. Anthony Andersen held himself out be a broker and owned, controlled or conducted business using the following companies: Troy Realty Equity Corp., First Street Troy Realty Corp., 1st Street Troy Realty Corp., AA Asset Management, Inc., and Easthampton Mortgage Co. Inc.

On February 16, 2007, an indictment …

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Original post by default@goarticles.com (Eric Morgan)