Tag Archives: Fraud

Irvine Law Group, LLP has filed a Multi-Million Dollar Lawsuit Against a Loan Modification Firm and the Company’s Lawyers for Alleged Loan Modification Fraud

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Irvine, CA (PRWEB) September 19, 2012

Southern California law firm of Irvine Law Group, LLP has filed a 150-page civil lawsuit in Superior Court of California, County of Orange (Case No.: 30-2012-00578562) against defendants: Consumer Protection Help Coalition, Inc., (DE) Gary Lane, a California lawyer Jose Arturo Abad Vega (also recognized as Pepe Abad, and Pepi Abad) and other named people, alleging that defendants operate “an illegal mortgage modification scheme”. Plaintiff’s lawyer, Rod Bidgoli, a senior partner at the firm stated that the multi-million dollar lawsuit alleges 17 diverse causes of action against the various defendants, like: Fraud, Conspiracy to Commit Fraud Charging Illegal Advance Costs for Loan Modification Intentional Misrepresentation Unfair, Deceptive and Fraudulent Enterprise Practices Violation of the Shoppers Legal Treatments Act Illegal Use of Runners and Cappers and 12 other causes of action.

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The lawsuit alleges that defendants created misrepresentations and assurances to Plaintiff that they would modify her mortgage and acquire a reduction of her loan principal, and cease the foreclosure of her property. Plaintiff claims that she paid the defendants thousands of dollars in advance charges, but no loan modification was performed for her, and as a result she lost her house in foreclosure.

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The lawsuit additional alleges that defendants misrepresented CPAC as a “Federally Registered Non Profit Law Clinic, even though CPAC has no federal registration,” and that CPAC is not registered either as a law corporation or a “Non-Profit Legal Clinic” with California Attorney General’s office, the State Bar of California, or any other governmental or regulatory agency.

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When asked about the case, Mr. Bidgoli declined to comment on the specifics of the case other than what is contained in the legal complaint, due to the fact of pending litigation. The civil complaint nonetheless alleges that there had been felony criminal charges filed against defendant Pepi Abad in Orange County Superior Court (Case No.: 11CF1447) stemming from an illegal mortgage modification scam involving Mr. Abad, and that Mr. Abad has pled Nolo Contendere (no contest) to violation of California Civ. Code Sec. 2945.four(a) which tends to make it illegal and unlawful for a foreclosure consultant to collect advance costs.

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A declaration attached to the civil complaint which was originally filed with the Court in the criminal case by the office of California Lawyer General, Kamala Harris, in help of the arrest warrant for Abad, it was stated that: “The total quantity of upfront charges for loan modification services paid to HOA for the period November 2007 to November 2008 exceeded $ three,600,000”. (In the declaration HOA is identified as the d.b.a. for defendant Abad and his former partner, Dean E. Toro).

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Mr. Bidgoli stated that they have a extremely sturdy case against the defendants and he looks forward to taking this case to trial. He also warned the public that they must conduct a thorough investigation of anybody that claims they can do loan modifications for a fee, even attorneys, law firms and non-earnings.

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Beware of Foreclosure Rescue Scams – Assist Is Free of charge. If you require assistance with a loan modification, pay a visit to http://www.makinghomeaffordable.gov which is a site set up by the government to aid residence owners. Also if you are going to pay an lawyer, or a business for loan modification, verify them out initial by contacting the Federal Trade Commission, State Bar, or the Department of Customer Affairs.

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Stopping Online Banking Fraud By means of Anomaly Detection

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San Jose, CA (PRWEB) June 03, 2013

nProtect, a worldwide Net and mobile security leader, announced the release of nProtect Fraud Detection Technique, to offer financial institutions with a solution to proactively avoid on-line banking fraud.

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Detecting on the web banking fraud and taking actions following they occur can cost financial institutions millions of dollar in loss. As soon as on-line fraudsters have currently produced fraudulent transfers, economic institutions might not be able to recover the lost income. Usually malware utilised by fraudsters target certain financial institutions infecting several customers at when, the monetary loss can be higher and brand substantially broken.

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Just before fraudulent attacks occur, monetary institutions require to concentrate on detecting anomalous transactions and stopping them in advance. Monetary institutions have all the essential details transaction amount, date, place, and frequency to monitor and detect abnormal activities to safeguard their on the internet banking consumers.

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nProtect has released the nProtect Fraud Detection Technique (NFDS) to monitor and analyze on-line transactions for abnormal behaviors and safeguard monetary institutions and users against net fraud. The NFDS answer collects details to generate a pattern DNA for each on the web banking client and detects paterns and blocks the transactions in genuine-time. Administrators are alerted of policy rule violations and reports and statistics are accessible for regulatory compliance and auditing.

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The monetary institutions can monitor the online banking clientele geo-place to IP address to be utilised to generate person evaluation of pattern. By picking much more in-depth info such as the clientele operating method, MAC address, and proxy IP, economic institutions have a greater probability of blocking fraudulent transactions and tracking down online fraudsters.

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Although its often important for online banking consumers to have anti-malware tools that can aid avoid on-line frauds from occurring, adding a number of layers of safety is advised to safeguard the financial institutions and on-line banking consumers private identity and money.

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About nProtect, Inc.

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Founded in January 2000, nProtect, also known as INCA World wide web, is headquartered in San Jose, California and gives online and mobile banking/payment safety to monetary institutions. More than 100 million endpoint users from a lot more than 1,020 organizations rely on nProtects on the web security solutions to secure their personal computer and mobile devices against malware, phishing, and number of other security threats even though meeting regulatory compliance specifications such as FFIEC Guidance. Global economic institutions such as Bank of America, Deutsche Bank, ING, and HSBC trust and use nProtect safety answer.

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nProtect was awarded a single of the Fastest Increasing Firms by Deloitte.

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For more info, contact nProtect Inc.&#13

Tel: 408-477-1742&#13

E-mail: sales(at)nProtect(dot)com&#13

http://www.nProtect.com

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Zoot Enterprises Announces New Fraud Engine Capabilities

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Phoenix, AZ &amp Bozeman, MT (PRWEB) March 11, 2013

Zoot, a global provider of advanced loan origination, account acquisition and credit risk management options, these days announced new fraud prevention capabilities at the CBA Reside 2013 The Future of Cash conference. Zoots fraud engine enables monetary institutions (FIs) to adapt quickly to new fraud tactics by leveraging versatile company guidelines improvement tools, knowledge in data integration and frequent testing capabilities.

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Fraud losses are on the rise for U.S. economic institutions, by as significantly as 30% year over year for numerous FIs with whom Aite Group has spoken. Thanks to the sophistication of the organized rings behind a lot of of these schemes, FIs have a really difficult job in weeding out the fraudulent applications at the point of origination, stated Julie Conroy, analysis director, retail banking &amp payments for Aite Group.

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As the sophistication of fraudulent activity increases and fraud losses escalate, we recognize the want for enhanced prevention measures for lenders, said Eric Lindeen, marketing and advertising director for Zoot Enterprises. Zoots fraud engine aggregates information from each internal bank and external data sources to provide a more extensive view of customers. A single interaction may possibly appear benign but when statistical analysis of thousands of interactions is conducted, fraud schemes are usually exposed.

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Zoots information and solutions marketplace has connections to more than 15 fraud prevention data providers and danger management businesses, such as ID Analytics. Providers of fraud associated information can assist FIs in much better understanding buyers behaviors and their likelihood of fraudulent activity, with information not traditionally obtainable in a customers credit file.

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Zoots fraud engine enables organization users to test different fraud identification methods on a large scale in a non-production testing atmosphere. Retrospective evaluations can also be carried out to establish if a new fraud prevention tactic would have made a much more efficient outcome. In addition, the solutions versatile company rule development tools enable customers to make modifications to decisioning logic swiftly as the market adjustments.

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The incorporation of ID Analytics ID Score product into Zoots fraud engine enables FIs to discover a larger percentage of fraud with their current overview rate and the same level of fraud at a lowered assessment rate. For example, at a 3% overview price, ID Score can uncover in between 40-45% of fraud activity. Zoots fraud engine combined with ID Analytics data reduces fraud, protects buyers, and drives expense savings, mentioned Garient Evans, director of Identity Danger, ID Analytics.

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Zoot executives will be accessible to discuss their fraud engine capabilities at booth quantity 58 throughout the CBA Live Conference, March 11-13, 2013 at the JW Marriott Desert Ridge in Phoenix, Arizona. ID Analytics will be hosting a forty-five minute educational webinar titled, Detailed Insight through Attributes, a discussion about fraud and compliance attributes ideal practices. On March 28th at 9:30 am PST, find out how companies can acquire the complete insight into identity danger necessary to keep ahead of evolving identity-risk threats while preserving a positive client knowledge. To register, click here.

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About Zoot

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Bozeman, Mont.-primarily based Zoot Enterprises, Inc. is a worldwide provider of advanced loan origination, account acquisition, and credit danger management solutions. For much more than 20 years the companys innovative tools and services model has enabled Zoot consumers to meet their exact organization objectives and adapt rapidly to seize marketplace possibilities. Zoots rapid, higher-volume processing environment has the capacity to approach billions of transactions per year. Pay a visit to http://www.zootweb.com or get in touch with 406.556.7555 for a lot more information. Zoot thought leaders are now featured on zootweb.com/weblog.

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About ID Analytics, Inc.

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ID Analytics is a leader in consumer danger management with patented analytics, proven expertise, and real-time insight into customer behavior. By combining proprietary information from the ID Network

Corporate Whistle Blower Center Now Urges Banks Or Key Mortgage Servicing Insiders To Contact Them If They Have Proof Of Major Fraud Involving FHA-VA, Or Fannie Mae Loans

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(PRWEB) April 17, 2013

The Corporate Whistle Blower Center is now urging loan servicing insiders to step forward for potentially substantial rewards, if they possess proof of any sort of considerable fraud, or key wrongdoing involving the servicing of FHA, VA, Fannie, or Freddie mortgages. The group’s important is concentrate is loan servicing insiders, who have proof their business is allowing borrowers to default, robo signings, over billing the government for solutions by no means rendered, legal charges, for no legal solutions, mortgage files that had been never correctly dealt with, and so on. As lengthy as the wrong doing, or fraud is in the millions of dollars, and as extended as the whistleblower has substantial proof the Corporate Whistle Blower Center desires to hear about it, and a prospective whistleblower can call them anytime at 866-714-6466,

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The Corporate Whistle Blower Center Mortgage Whistleblower Initiative is also hunting for the following kinds of whistleblowers:&#13

On the mortgage origination side the Corporate Whistle Blower Center is looking for major bank, mortgage banker, homebuilder mortgage managers, or insiders, who can prove their bank, or mortgage lender employer was committing appraisal fraud, as nicely as gouging borrowers on costs, or not complying with distinct guidelines that govern Fannie, Freddie, FHA, or VA mortgages. &#13
On the loan serving side, The Corporate Whistle Blower Center is seeking for individuals who possess substantial proof, their bank or loan serving firm employer was intentionally misapplying payments for principal, interest, and/or for reserves. The group is also hunting for bank, or loan servicing insiders, whose company took federal funds to do loan modifications, and instead of performing a loan modification the bank, or loan servicer did a foreclosure. No 1 ever checked the file. &#13
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Crucial rules for a whistleblower from the Corporate Whistle Blower Center: &#13

Do not go to the government first, if you are a main whistle blower. The Corporate Whistle Blower Center says, “Significant whistle blowers frequently go to the federal government pondering they will help. Its a enormous error. Frequently government officials could care significantly less, or they are incompetent.” &#13
You have to be the 1st person to present your information, and it has to be new details, not previously disclosed. &#13
Do not go to the news media with your whistle blower data. Public revelation of a whistle blower’s details could destroy any prospect for a reward. &#13
Do not attempt to force a government contractor, or corporation to come clean to the government about their wrongdoing. The Corporate Whistle Blower Center says, “Fraud is so rampant among federal contractors, that any suggestion of exposure may result in an instant job termination, or harassment of the whistle blower. We say, come to us very first, tell us what variety of details you have, and if we consider its sufficient, we will aid locate the appropriate law firms, to help in advancing your data.”

Any sort of insider, or employee, who possesses important proof of their employer, or a government contractor fleecing the federal government is encouraged to speak to to Corporate Whistle Blower Center anytime at 866-714-6466, or they can speak to the group by way of their net website at http://CorporateWhistleBlowerCenter.Com

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Mortgage Fraud Examiners Warns: Beware Of The Latest Foreclosure Rescue Scam–Securitization Audits

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(PRWEB) March 27, 2012

With many homeowners facing foreclosure and looking for help across America, many worthless services have cropped up with such promises as mortgage elimination or other foreclosure tactics that in some cases are patently illegal. One commonly advertised service is a Securitization Audit.

A number of companies have been pushing forensic loan audits, aka TILA/RESPA audits. Since knowledgeable attorneys and homeowners recognize these audits are basically useless, the “wolves in sheep’s clothing are now peddling, securitization audits.

Mortgage Fraud Examiners Founder Storm Bradford explains: The supposed reason given for a securitization audit is to determine the true owner of a promissory note. Allegedly, with this information, the homeowner can show a court that the party actually foreclosing on a mortgage is not the actual note owner.

However, securitization arguments like, show me the note, assignment, MERS, robo-signing, and so on, generally amount to nothing more than just stalling the inevitable–the homeowner getting booted to the curb. None of these hopeless arguments changes the essential fact; the Court in a judicial state MUST give relief and remedy to the lender or assignee, because the borrower breached the contract. And in a non-judicial states, the private trustee implements a private sale to a buyer without a judges involvement. Nobody ever looks at the issues raised by the securitization audit. So only the uninformed would think a securitization audit could be anything more than useless.

Moreover, if homeowners and their legal counsel really had doubts about who had the legal right to foreclose theyd file whats known as a interpleader action listing everyone who might have a claim, deposit their mortgage payment with the Court, and let the lenders and assignees fight it out. However you never see that, since defaulting homeowners and their counsel really dont care who has the right to foreclose, so long as its not THE bank foreclosing now. Its just about stalling, and lining the pockets of pretender defenders. http://www.veteranstoday.com/2012/03/21/mortgage-fraud-examiners-warns/

As a result, knowing who owns your note is like knowing the earth speeds through the universe at 67,000 miles an hour, its basically worthless information. Nonetheless, as a courtesy to homeowners they can call us and wed be more than happy to show them how to acquire information about the owner of their note for FREE.

Gregory Bryl, a foreclosure defense attorney practicing in Virginia and Florida, explains: most securitization audits that I have reviewed are inadmissible in a court of law; they contain a mere opinion of a layman without personal knowledge (direct experience) as to what happened with a particular mortgage note after closing. Why pay a securitization auditor when you can have your grandmother provide an opinion as to what happened with the note and have her sign an audit report? In reality, in about 95% of all cases, the information supplied by a securitization audit is either already publically available, or it is unavailable to either the homeowner or the auditor. Thus, where a homeowner genuinely lacks this information, an outsiders opinion (in contrast to the banks admission) is unlikely to help.

Thomas K. Plofchan, Jr., an attorney in Sterling, Virginia, who employs the services of Mortgage Fraud Examiners, adds: Ultimately, the only real issue is whether a proper lien has been created with the house as collateral. It is astonishing just how many legal errors, contract breaches, and frauds, can be exposed by a meticulous examination of the mortgage transaction.

Matter of fact, in two recent cases we were able to identify and establish evidence to show the deeds of trust were void. The end result for the homeowners was receiving their respective homes free and clear. So, its quite clear, a thorough examination of the mortgage contract is the ONLY proven method to uncover evidence that could affect the validity of the lien.

Attorneys Bryl and Plofchan, like many attorneys are exposing securitization audits for what they are basically worthless. http://www.nakedcapitalism.com/2011/05/new-homeowner-scam-mortgage-securitization-audits.html and http://mattweidnerlaw.com/blog/?s=securitization+audits&search=Search

Bradford concludes: Undeniably, the only established procedure for a homeowner to obtain financial compensation or their home free & clear is through an in-depth analysis of the mortgage transaction, to identify legal errors, contract breaches, tortious conduct, to include appraisal fraud; and then attacking the loan based on those findings. Regrettably, everything else is just wishful thinking or a scam. http://www.wvrecord.com/news/233771-quicken-loans-on-losing-end-of-3-million-predatorylending-

Mortgage Fraud Examiners is a project of Lex Consulting, LLC, for over 30 years, Lex Consulting has provided litigation support to attorneys, helping them break into new areas of practice, or providing specialized advice for complex cases requiring novel approaches to the law. Due to the housing crisis, Mortgage Fraud Examiners, a team of specially trained legal professionals, was created to provide borrowers and the legal community with comprehensive assistance to help them keep them in their homes.

Mortgage Fraud Examiners

Phone: 800-540- EXAM (3926)

http://www.mortgagefraudexaminers.com







Related Securitization Audit Press Releases

e-Logic Group CEO Anthony Martinez Conducts Strategy Sessions To Discuss Seminars On Advanced Securitization Audits, Forensic Audits, Quiet Title, Mortgage Fraud

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Miami, FL (PRWEB) July 13, 2012

As real estate scammers continue to hold bogus seminars using hot industry catch phrases like Quiet Title and Mortgage Fraud, a greater need has presented itself for real, crucial and critical information on these very real topics. “I may think I know everything there is to know about advanced securitization, quiet title and mortgage fraud options or arguments but that may not coincide with what attorneys and investors really need,” says Anthony Martinez, e-Logic Group’s Chief Executive Officer whose company now offers Advanced Securitization Audits, Forensic Audits and Litigation Strategy Analysis and is very well known in the legal community as one of the most reliable go to resources. “Attendees of seminars are your clients and like all relationships it’s important to discuss your clients needs, understand them and come up with a plan that works for them. That’s why I’ve decided to conduct strategy sessions with attorneys and investors on the topics of my Discovery Tactic’s Seminars before I actually begin offering them.”

Discovery Tactic Seminars are designed to be cutting edge. They offer attendees factual and critical real life working information that’s not theory based on someone’s inexperienced interpretation. Discovery Tactics is a Weblog authored by Mr. Martinez, a Discovery Expert, Consultant and Strategist. His consulting company Anthony Martinez & Associates/AMA Global Group (“AMA”) is the most advanced Legal Process Outsourcing (“LPO”) company (and probably the only LPO Service Provider) that specializes in real property defense and offensive litigation that offers true back-end office support services to attorneys. AMA does advanced legal research, drafts advanced pleadings and trains attorneys in specific litigation tactics and strategies relative to real property litigation.

“I’ve seen these quiet title seminars and the information they offer first hand. Their quiet title approach is based on the hope of a default. So what happens when the opposition fights back, claims your action is frivolous and moves for attorney fees?