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Mortgage Fraud

A sign outside a Bank of America branch in San Francisco. (Justin Sullivan/Getty Images)

US Judge Slaps B of A With $1.3B Fine For Mortgage Fraud; First Ever Such Ruling Against Bank

A federal judge imposed a $1.3 billion civil penalty against Bank of America for its role in selling risky mortgages to Fannie Mae and Freddie Mac. This is the first time a bank has been found liable under federal law for mortgage fraud leading up to the financial crisis

07/30/2014

(CBS)

Brentwood Woman Charged In Mortgage Fraud Case

A Contra Costa County woman and Las Vegas man face charges for their alleged involvement in a multi-million dollar mortgage scam that bilked more than a thousand homeowners.

09/12/2013

home sale, mortgage, foreclosed, foreclosure, real estate, house

Brentwood Man Charged In Multi-Million Dollar Mortgage Scam

A Contra Costa County man is facing charges that he bilked more than 1,000 homeowners in a multi-state, multi-million dollar mortgage scam.

09/28/2012

San Francisco Homes For Sale

Gov. Brown Signs ‘Homeowners Bill of Rights’ Into Law

California has a new law to stop what Gov. Jerry Brown calls abusive home lending tactics.

07/11/2012

A foreclosure sign hangs on a fence in front of a foreclosed home on April 6, 2011. (Justin Sullivan/Getty Images)

California Lawmakers Approve Bill To Make Mortgage Reform Permanent

California’s State Assembly and Senate both passed a package of protections for homeowners designed to prevent further foreclosure abuse. The legislation now goes to Gov. Brown.

07/02/2012

Edwin Parada

Ex-Real Estate Agent Sentenced In SF Mortgage Scheme Targeting Immigrants

A former realtor and Christian radio show host was sentenced to 15 years in prison Friday for a mortgage fraud scheme targeting Spanish speaking homeowners that totaled more than $2 million.

04/06/2012

San Francisco Homes For Sale

Sonoma Co. Hells Angels Leader Sentenced In Mortgage Fraud Scheme

A former president of the Sonoma County Hells Angels Motorcycle Club has been sentenced in federal court in San Francisco to five years and 10 months in prison for his role in a $10 million mortgage fraud scheme.

01/19/2012

(CBS)

Vallejo Man Guilty In Mortgage Scam Run Out Of Benicia Deli

A Vallejo man who ran a mortgage scam from a Deli in Benicia has been forced to repay his victims. Rocky Prasad was convicted of two counts of grand theft for falsely offering mortgage loans to two Santa Clara County home-buyers.

11/22/2011

(CBS)

Hells Angels Members Charged With Bay Area Mortgage Fraud

Members of the Hells Angels motorcycle gang and several others have been charged with operating a multi-million dollar mortgage fraud and allegedly using part of the proceeds to buy so-called marijuana grow houses.

09/27/2011

Karla and Carlos Parada

Authorities Make Another Arrest In San Francisco Mortgage Fraud Scheme

Edwin Parada, a one-time real estate agent in the Mission District, has been in jail for two years for his role in the large mortgage fraud scheme.

09/14/2011

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