The task force, established by President Barack Obama in November 2009 to wage an aggressive, coordinated, and proactive effort to investigate and prosecute financial crimes, is composed of representatives from a broad range of federal agencies, regulatory authorities, inspectors general, and state and local law enforcement. The first summit was held in Miami because of the high rate of mortgage fraud in the region.
The Miami-Fort Lauderdale-Pompano Beach metropolitan area is ranked first in the nation for the number of local subjects named in Suspicious Activity Reports (SARs) filed by depository institutions concerning suspected mortgage fraud, according to a recent Financial Crimes Enforcement Network (FinCEN) study. And according to FinCEN data, Florida has consistently ranked second in the nation for mortgage fraud SARs, only behind California.
Today, the task force members met with Miami community members, banking, mortgage, and real estate industry representatives and law enforcement officials to discuss the problem of mortgage fraud from a national, state and local perspective. In the morning, attendees participated in panels on the community impact of mortgage fraud and the evolution of the crisis.
In the afternoon, task force representatives will meet privately with law enforcement officials involved in the investigation of mortgage fraud. “This task force has a straightforward mission: To protect families against financial fraud and restore the confidence of consumers in our markets,” said Assistant Attorney General for the Civil Division Tony West.
“We will hold accountable not just those responsible for the corporate fraud that created our current financial crisis, but those responsible for the financial fraud that affects too many working families, like mortgage fraud and lending discrimination. And by holding these people accountable, we will seek to prevent another meltdown from happening again.” “The mortgage fraud crisis cannot be ignored. Mortgage fraud puts lenders at risk, and forces homeowners to confront the real possibility of foreclosures, or worse, the loss of their homes,” said U.S. Attorney for the Southern District of Florida Jeffrey H. Sloman.
“Nowhere is the problem more serious than here in Florida. Since September 2007, our mortgage fraud initiative has resulted in the prosecution of 282 individuals at all levels of the mortgage process, resulting in more than $343,669,434 in fraudulent mortgage loans. We will continue to do our part to investigate and prosecute these fraudsters, in the hopes of stemming the tide of fraud that has swept the mortgage industry.” “Different parts of the country experience mortgage fraud in different ways.
We are here in Miami, in part, to learn about the nature of the problem and the enforcement efforts to date in this region, so that we can determine how best to facilitate enforcement efforts nationally,” said U.S. Attorney for the Eastern District of California Benjamin B. Wagner. “This summit is the first of at least three similar summits that the Mortgage Fraud Working Group will be holding around the country. We hope to gather more information about the nature of the problem in different regions and help coordinate an effective law enforcement response.”
“The HUD OIG helped craft into legislation last year a penalty of up to 30 years in prison and $1 million in fines for committing FHA fraud,” said Inspector General of the Department of Housing and Urban Development Kenneth M. Donohue. “The OIG, working with U.S. Attorneys across the country, will endeavor to use these new penalties to prevent and confront fraudulent activities. We will use any means at our disposal, whether criminal, civil, or administrative, to stop those who are impacting the soundness of HUD’s FHA program at such a critical time.”
“The mortgage fraud crisis in Florida is similar to a state of emergency, and Florida Attorney General Bill McCollum knows we have to take an all-hands-on-deck approach to effectively address our citizens' concerns. The Florida Attorney General's Office will continue working with its federal, state, and local partners to protect homeowners from mortgage fraud and foreclosure rescue and loan modification scams. Everyone must work together if we are going to make a difference,” said Regional Deputy Attorney General Cynthia Guerra.
“As long as criminals are out to make a quick buck by preying on homeowners and lenders, we will continue to work side-by-side with our partners to protect the American dream for years to come and ensure that criminals who try to enrich themselves through mortgage fraud schemes are brought to justice,” said FBI Deputy Assistant Director for the Criminal Investigative Division Karen Spangenberg.
Also participating in the summit were the Executive Director of the Financial Fraud Enforcement Task Force Robb Adkins, FinCEN Director James H. Freisa, Jr., and representatives from the U.S. Secret Service, Federal Deposit Insurance Corporation, and the Miami-Dade Police Department. The Miami summit is the first in a series of meetings to occur in the coming months, with additional dates and locations to be announced. Mortgage fraud is a key focus of the Financial Fraud Enforcement Task Force’s efforts.
The task force is working to improve efforts across the federal executive branch, and with state and local partners, to investigate and prosecute significant financial crimes, ensure just and effective punishment for those who perpetrate financial crimes, combat discrimination in the lending and financial markets, and recover proceeds for victims of financial crimes.
Dummies Month Means Savings on my For Dummies Books
March is Dummies Month - an annual traditional that results in big savings for people who buy For Dummies titles like my latest book (availble in April of this year), Financing Real Estate Investments For Dummies.
Please join me in celebrating Dummies Month and saving a few bucks on your purchase of my For Dummies titles. You can buy any of my For Dummies books directly from Wiley by clicking on the links below, or you can purchase them from your favorite bookseller, including Amazon.com, Barnes & Noble, Borders, or any other bookstore.
Be sure to save your receipt, because when you do, you can then download and print the Dummies Month Rebate Form, complete it, and submit it to Wiley along with your receipt to receive a $5.00 rebate on your purchase.
Following is a list of Dummies titles I've co-authored with links to the Dummies Store, where you can purchase the books and find out more about the $5 rebate available during Dummies Month:
Building an Agent Team from the Ground up - Learn the Secrets to Success at RISMedia's Leadership Conference
Posted By Paige On August 26, 2008 @ 4:09 pm In Today's Top Story | Comments Disabled

RISMEDIA, August 27, 2008-There's been so much talk about agent teams recently. Are they good for the industry? Are they bad for the broker? Regardless of the answer, they're popping up everywhere-from small towns to giant metros. Big or small, these mini-powerhouses have changed the way practitioners work with their buyers and sellers.
Jacky Teplitzky, managing director, Prudential Douglas Elliman is one of three panelists who will offer her expertise on the agent team concept during the "Agent Teams: Friend or Foe" session, facilitated by Marylyn Schwartz, president, Teamweavers, at RISMedia's 19th Annual Leadership Conference at The Roosevelt Hotel in New York City.
Teplitzky is a sought-after guest speaker and has presented at numerous regional and national venues. She has appeared in more than 10 New York Times cover stories as well as on "Good Morning America." Teplitzky is leader of the Jacky Teplitzky team, the number-one ranked team at Prudential Douglas Elliman (PDE), where there are more than 3,300 brokers in over 60 offices.
Also don't miss, "The ABCs of Forming a Winning Agent Team," facilitated by Ralph R. Roberts, broker/owner, Ralph Roberts Realty, an educational session that will teach you the basic steps toward forming your own agent team.
Session Details:
Session Title: Agent Teams: Friend or Foe?
Date: Thursday, September 4th
Time: 9:00 a.m. - 10:15 a.m.
Facilitator: Marylyn Schwartz, President, Teamweavers
Panelists: Barb Jandric, General Manager, Edina Realty
Mary Tennant, COO, Keller Williams International
Jacky Teplitzky, Managing Director, Prudential Douglas Elliman
Session Title: The ABCs of Forming a Winning Agent Team
Date: Thursday, September 4th
Time: 1:30 p.m. - 2:45 p.m.
Facilitator: Ralph R. Roberts, Broker/Owner, Ralph Roberts Realty
Panelists: John Bendall, Team Leader, The Bendall Group
Bryan Felder, Realtor, The Virginia Realty Group
Faye Rispoli, Broker Associate, RE/MAX Premier
Howard Witz, Associate Broker, Fillmore Real Estate
Ralph R. Roberts, CRS, GRI
67775 Van Dyke
Washington Township, MI 48095
Office: (586) 751-0000
Fax: (586) 752-8959
Email: RalphRoberts@RalphRoberts.com
Personal Assistant: Lois Maljak (LoisMaljak@RalphRoberts.com)
Ralph Roberts is the author of many books:
- Flipping Houses For Dummies (Wiley Publishing)
- Foreclosure Self-Defense For Dummies (Wiley Publishing)
- Advanced Selling For Dummies (Wiley Publishing)
- Protect Yourself from Real Estate & Mortgage Fraud (Kaplan Publishing)
- Mortgage Myths: 77 Secrets to Save on Home Financing (Wiley Publishing)
- Foreclosure Investing For Dummies (Wiley Publishing)
Ralph also maintains Websites and Blogs:
- www.RalphRoberts.com (Ralph's real estate company)
- www.FlippingFrenzy.com (Ralph's blog about Real Estate & Mortgage Fraud)
- www.AboutRalph.com (Where anyone can learn more about Ralph)
- www.GetFlipping.com (A resource for house flippers)
- www.KolleenRoberts.com (a tribute site to Ralph's daughter)
Mortgage Fraud Statistics
According to the Federal Bureau of Investigation (FBI), which earlier this month issued yet another Mortgage Fraud Advisory, here are the latest Real Estate Fraud statistics:
Estimated Annual Losses: $4 billion to $6 billion
Total Mortgage Fraud Suspicious Activity Reports in Fiscal Year 2007: 46,717, with $813 million in losses
Total FBI Mortgage Fraud Task Forces/Working Groups (June 2008):
42
Pending FBI Mortgage Fraud Investigations (May 2008):
1,380
Cases opened in Fiscal Year 2007:
462 (compared to 295 in Fiscal Year 2003)
Successes in Fiscal Year 2007:
321 indictments/informations; 260 convictions
States with Significant Mortgage Fraud problems in 2008:
Florida
Nevada
Michigan "my State"
California
Utah
Georgia
Virginia
Illinois
New York
Minnesota
Ralph R. Roberts, CRS, GRI
Ralph Roberts Realty
67775 Van Dyke
Washington Township, MI 48095
Office: (586) 751-0000
Fax: (586) 752-8959
Email: RalphRoberts@RalphRoberts.com
Personal Assistant: Lois Maljak (LoisMaljak@RalphRoberts.com )
Ralph Roberts is the author of many books, including:
- Power Teams: A Guide to Building and Managing Winning Real Estate Agent Teams (RISMedia)
- Foreclosure Self-Defense For Dummies (Wiley Publishing)
- Mortgage Myths: 77 Secrets to Save on Home Financing (Wiley Publishing)
- Advanced Selling For Dummies (Wiley Publishing)
- Protect Yourself from Real Estate & Mortgage Fraud (Kaplan Publishing)
- Foreclosure Investing For Dummies (Wiley Publishing)
- Flipping Houses For Dummies (Wiley Publishing)
Ralph Roberts maintains a number of popular Websites and Blogs, including:
- www.RalphRoberts.com (Ralph's real estate company)
- www.FlippingFrenzy.com (Ralph's blog about Real Estate & Mortgage Fraud)
- www.AboutRalph.com (Where anyone can learn more about Ralph)
- www.ForeclosureSelfDefense.com (Info about Foreclosure Self-Defense)
- www.GetFlipping.com (A resource for house flippers)
- www.PowerfulSelling.com (Sell tips, strategies and warnings)
- www.KolleenRoberts.com (A tribute site to Ralph's daughter)
ActiveRain Corp. is not responsible for the accuracy of the site's content (which is written by members of the ActiveRain Real Estate Network) and does not endorse the views of the real estate agents, mortgage brokers, and others listed here.
Powered by the ActiveRain Real Estate Network
© 2013 ActiveRain Corp. All Rights Reserved