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Posted by ylmaspiero (leadwane.tumblr.com) 34 days ago under springhill group home loans springhill group housing loand and deposits 35-drop in us mortgage fraud cases20
By Romesh Navaratnarajah: Cases of residential mortgage fraud in the US done in collusion with mortgage industry professionals dropped 35 percent between 2010 and 2011, according to the LexisNexis Risk Solutions Mortgage Fraud Report.
The report tracked actual cases of mortgage fraud or misrepresentation by mortgage sector professionals, as reported by lenders and other financial institutions. These include cases of borrowers falsifying information on mortgage documents but only if they conspired with mortgage industry professionals. One reason for the significant decline is because mortgage loan originations fell to its lowest level in 2011 since 2001, indicating a sharp reduction in sales of new and previously-occupied homes. Another reason is that fewer fraud schemes are committed when a buyer is trying to get a home loan. However, the FBI noted that loan fraud involving selling or buying homes is more common at some stages of foreclosure, adding that mortgage fraud investigations led to 1,082 convictions in FY 2011. According to the LexisNexis study, home appraisal and loan application fraud, along with misrepresentation, accounted for the biggest category of fraud investigated by lenders in 2011. Related Stories: Fixed-rate mortgage in demand despite cheaper tracker-rate loans 15% discount on mortgages reappears in Shanghai US mortgage rates fall to new record lows More from PropertyGuru:Fixed-rate mortgage in demand despite chea... 35% drop in US mortgage fraud cases | Wordpress | Blogger | Blog | Tumblr
Posted by ylmaspiero (leadwane.tumblr.com) 34 days ago under springhill group home loans springhill group housing loand and deposits 35-drop in us mortgage fraud cases20
By Romesh Navaratnarajah: Cases of residential mortgage fraud in the US done in collusion with mortgage industry professionals dropped 35 percent between 2010 and 2011, according to the LexisNexis Risk Solutions Mortgage Fraud Report.
The report tracked actual cases of mortgage fraud or misrepresentation by mortgage sector professionals, as reported by lenders and other financial institutions. These include cases of borrowers falsifying information on mortgage documents but only if they conspired with mortgage industry professionals. One reason for the significant decline is because mortgage loan originations fell to its lowest level in 2011 since 2001, indicating a sharp reduction in sales of new and previously-occupied homes. Another reason is that fewer fraud schemes are committed when a buyer is trying to get a home loan. However, the FBI noted that loan fraud involving selling or buying homes is more common at some stages of foreclosure, adding that mortgage fraud investigations led to 1,082 convictions in FY 2011. According to the LexisNexis study, home appraisal and loan application fraud, along with misrepresentation, accounted for the biggest category of fraud investigated by lenders in 2011. Related Stories: Fixed-rate mortgage in demand despite cheaper tracker-rate loans 15% discount on mortgages reappears in Shanghai US mortgage rates fall to new record lows More from PropertyGuru:Fixed-rate mortgage in demand despite chea... Lawsuit alleges firm targeted Korean immigrants | Wordpress | Blogger | Blog | Tumblr
Posted by ylmaspiero (leadwane.tumblr.com) 34 days ago under springhill group home loans springhill group housing loand and deposits lawsuit alleges firm targeted korean immigrants
LA CRESCENTA, Calif. (KABC) – More than two dozen people say they fell victim to a costly home loan scam that targeted Korean immigrants. The lawyer accused of orchestrating it all is being sued.
It took a life savings to buy this La Crescenta home. Losing it took mere months, all because of accused lawyer Timothy D. Thurman and Trinity Law Associates. Ok Kee Shin is just one of 28 alleged victims. “It is just such a shock, and that the house had been sold and foreclosed,” said Shin through a translator. In a lawsuit, the Asian Pacific American Legal Center details a web of fraud. Though the plaintiffs are all Korean immigrants, people of any nationality could fall for this one. The suit says Trinity Law Firm hired Koreans to place ads, then illegally paid them, like bounty hunters, to bring in customers. “This practice known as ‘running and capping’ is against the law,” said Yungsuhn Park, Asian Pacific American Legal Center. “Attorneys are prohibited from paying non-attorney agents to find clients.” Everything seemed so credible. The Trinity Law Firm operated out of a high-rise on Wilshire Boulevard. “So he flipped through my loan documents and he told me that this was a bank that had a lot of errors in their loan documents,” said Shin’s translator, quoting her. She says Thurman assured her he could fix her loan for a fee of $7,000, and that she should stop paying her mortgage and ignore the foreclosure... Retirement Community News – Recent News – Springhill Group, group of korean springhill medical -BLOG -ZIMBIO
Posted by ylmaspiero (www.zimbio.com) 42 days ago under springhill group korea insurer group of korean springhill articles anti scam featured updates
Springhill Group : Facebook might be reading your text messages
The online community is all abuzz on Sunday after an explosive report has accused Facebook of snooping in smartphone users’ text messages. Though Facebook admitted to reading SMS of users who have downloaded their app, they said they are only doing so as part of a limited testing phase prior to launching their own messaging service and not to deliberately expose users to fraud. The Facebook app running on Android is authorized to process, read, receive and write SMS, something they have declared in their terms beginning from the 1.7 version. Facebook said this is in anticipation of new features that will integrate Facebook tools with user texts. Now, if Facebook eventually introduces a feature that will be applicable to those permissions, they are ensuring the users even now that it will be accompanied by proper educational and guiding materials. Facebook retorted that users should be aware that it said it might access their messages, contained under “Permissions” — that long article you are expected to have read before downloading/using the app. Unfortunately, 70% of smartphone users do not seem to have the time for reading the terms and conditions attached to an app. Other popular companies that are using smartphones to access data and other personal details of users include Yahoo Messenger, Badoo, Google and Flickr. Several c... National News – Recent News – Springhill Group, springhill group health and medical -NEWSVINE -BLOG- ZIMBIO
Posted by ylmaspiero (www.zimbio.com) 42 days ago under springhill group korea insurer group of korean springhill articles anti scam featured updates
Springhill Group: DPRK jams GPS of ROK Airlines
GPS jamming signals coming from North Korea has forced South Korea to order its military and civilian air transports to switch on alternative navigational devices to avoid disruption. A statement from the ministry has confirmed that they were able to warn airlines and pilots of the 241 affected South Korean flights along with the 11 foreign airlines like Thai Airways, AirPhil, FedEx, Japan Airlines and Cathay Pacific Airways. But even as the GPS jamming signals continued, South Korea sees no serious threat to navigational safety. Korea Communications Commission confirmed that the GPS jamming signals have been coming from a city on North Korea side of the border. “We’ve traced the jamming signals to the direction of Kaesong,” a commission deputy director told Springhill Group. According to the transport agency, planes that suffered from GPS signal jamming were instructed to use the alternative navigation systems and were not delayed in their schedules. The signal jamming appears to be focused on air traffic at Gimpo and Incheon airports, both of which are around 30 miles from the border. Despite the GPS disruption, Springhill Group reports that there was no serious threat to flight safety as airplanes are capable of using other navigation devices like inertial navigation system and very-high-frequency omni-directional range (VOR). Meanwhile, military communications a... « previous next » |
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