Mortgage Executive Jailed for Failing to Remit Mortgage Payoffs – Mortgage Fraud Blog

Gary Pierce, 44, Edgewater, Maryland, was sentenced by U.S. district judge catherine C. Blake to six years in prison, followed by three years of supervised release, for conspiracy to commit wire fraud in connection with a five year scheme to divert or hold mortgage payoff funds from clients’ closings on 17 Maryland properties. Judge Blake also ordered Pierce to pay restitution of $4,174,044.41.

Towson Title Agency Operator Sentenced to Over Six Years in Prison in $3.9 Million Mortgage Fraud Scheme Failed to Make $3.9 Million in Payoffs to Mortgage Lenders Holding Liens on 13 Properties. And since that lender was receiving monthly payments, it had no reason to notify the borrower of any delinquency.

Millender served as chief executive officer of MEMG. a birthday party and other personal expenses. Millender also failed to disclose any of the income he received from the MEMG and KCU fraud.

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We got a mortgage on our home 2 years ago..Our mortgage was resold to a company in new york city. We now want to pay it off completely but are nervous. The new york city company says to send the payoff amount and all will be ok. We are from the ‘old school’ of doing things in person.

The increase in net interest margin was primarily attributable to.Mortgage Executive Jailed for Failing to Remit Mortgage Payoffs – Mortgage Fraud Blog Shellpoint Mortgage Servicing reviews: classaction lawsuit. foreclosed MY HOME UNDER A LOAN MODIFICATION PROCESS. need your email address. shortsale sold AND RUINED HOMEOWNERs CREDIT.

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5 days ago. Aronov was arrested in Florida, and will appear this afternoon for a removal hearing at. In a short sale, with the approval of the mortgage lender or servicer, and failing to disclose this to the mortgage lenders and servicers.

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Getting a home loan is sometimes complicated. That is why mortgages are so attractive to would-be scammers. Learn how to spot and avoid different types of mortgage scams. Mortgage-Related Complaints If you have a mortgage-related complaint or think you have been the subject of one of the mortgage scams below, you have several ways of reporting your experience: