Nine Argent Mortgage employees charged with fraud

Last week in Cleveland, nine former employees of former subprime lender Argent Mortgage Co. were indicted for their roles in making nearly $13 million of fraudulent residential mortgage loans. The Cuyahoga County Mortgage Fraud Task Force, which brought the charges (it operates under authority from the Ohio attorney general) alleged, among other things, that managers …

Countrywide caught with bankruptcy embarassments and lost checks

It pays to have an attentive lawyer when dealing with Countrywide. In breaking news of January 8 Countrywide admitted to fabricating documents related to the bankruptcy case of a Pennsylvania homeowner. Imagine how many similar cases are never identified. In the Countrywide case it is important to note that when the company invented the “letters” …

Epidemic of loan restructure and fake refinance scams for mortgage holders

In the list of top 10 scams for 2007, Foreclosure rescue scams came in at number 7. As if people who fell behind on mortgage payments didn’t have enough troubles, an increasing number became victims of foreclosure rescue frauds. In the list of top 10 scams for 2007, Foreclosure rescue scams came in at #7. …

Did Countrywide foreclosures abuse the bankruptcy system?

The federal agency monitoring the bankruptcy courts has subpoenaed Countrywide Financial, the nation¬ís largest mortgage lender and loan servicer, to determine whether the company¬ís conduct in two foreclosures in southern Florida represented abuses of the bankruptcy system. The subpoenas for Countrywide documents were issued in late October by the United States Trustee after the agency …