10 charged in Miami flipping/straw borrower fraud allegations

10 Charged Miami Flipping/straw Borrower Fraud - Politics, Business, Civil, History - Posted: 4th Feb, 2010 - 1:04pm

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The Mortgage Fraud Blog
Post Date: 4th Feb, 2010 - 1:04pm / Post ID: #

10 charged in Miami flipping/straw borrower fraud allegations

10 charged in Miami flipping/straw borrower fraud allegations
Mortgage Fraud News From MortgageFraud.org

The 10 defendants are alleged to have defrauded three lenders out of $24 million in loan proceeds. The indictment alleges that the defendants recruited friends and family to pose as purchasers of the properties. The loans were processed by a company called Miami Dade Mortgage Professionals and submitted to the lenders with fraudulent details. All of them were then closed by Trinity Closing Group.
Source: Daily Mortgage Fraud News

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