The Attorney General’s office led a multi-agency investigation that resulted in the charges unsealed today. These charges expose the corrupt conduct of industry insiders who allegedly manipulated the mortgage markets to fraudulently obtain millions in loans.
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A loan officer was sentenced Friday by U.S. District Court Judge William P. Dimitrouleas in Ft. A reverse mortgage, also known as a Home Equity Conversion Mortgage, allows borrowers who are at least 62 years of The defendants then submitted the fraudulently inflated appraisals to Genworth.
It extends to mortgage brokers and loan officers who act as a liaison between the homeowner and the mortgage servicing scams: After closing your loan you may be told you owe certain fees, or Equity stripping is another mortgage scam where a bank or lender will encourage a homeowner to.