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

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Former Sacramento-Area Loan Officer Arrested in Huntington Beach for Mortgage Fraud U.S. Attorney’s Office March 25, 2013 Eastern District of California (916) 554-2700

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If you fail to make one or more payments on your mortgage loan, your loan is in default. The servicer may then order "default-related services" to protect the value of the property. These services may include property inspections to make sure you are still living in the home and maintaining the property.

Mortgage Executive Jailed for Failing to Remit Mortgage Payoffs Allison Tussey – October 18, 2013 – Leave a comment Patrick J. Mansell , 68, Boca Raton, Florida, Vice President of Coastal States Mortgage Corporation , was sentenced to a statutory maximum penalty of five years in prison, followed by three years of supervised release.

Productivity and cost-cutting took a pounding last year as servicers were swamped with payoffs and new loan setup costs. A servicing performance study shows direct servicing costs climbed to $71 per loan, from $58 in 1992, for the very largest servicers. With 1993 behind us, many in the mortgage.

Mortgage Company Executive Sentenced In Fraud Case. Mansell was sentenced to a statutory maximum penalty of five years in prison, followed by three years of supervised release by U.S. District Judge Robin S. Rosenbaum. Mansell previously pled guilty to conspiracy to commit wire fraud to defraud government sponsored entities, Fannie Mae and Freddie Mac.

The head of the Riverside Regional Surgery Center and a convicted felon who went to prison for his role in a multi-million mortgage fraud scheme were among four men arrested thursday. the outfits.

Coastal States mortgage corporation (coastal). mansell was sentenced to a statutory maximum penalty of five years in prison, followed by three years of supervised release by U.S. District Judge Robin S. Rosenbaum. Mansell previously pled guilty to conspiracy to commit wire fraud to defraud government sponsored entities, Fannie Mae and Freddie Mac.

Bank and financial institution fraud cases have garnered much attention. With a near collapse of the U.S. financial system that was recently thwarted, members of Congress and the public are looking for ways to strengthen the regulatory system in order to prevent a financial meltdown from ever happening again.

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