(original post - 10-6-07)
In South Florida, the Miami Herald
- In the first roundup of suspects under a new campaign to crack down on home loan fraud in Miami-Dade County, 11 people -- brokers, borrowers, sellers and title agents -- were arrested in three separate mortgage fraud schemes, police announced Friday.
In one case, Mariana Navarrete, 44, owner of Confin Home Mortgage & Loan and United Consultants Group, allegedly enlisted an ex-husband and two sons to steal the identity of a former employee to purchase one of the son's homes
, police said. Her ex-husband is Xavier Abelardo, 46, a mortgage broker and registered owner of Nexa Investments Group, which does business under the name Value Rate Mortgage. Both were arrested in this case, as were her sons, Javier Abelardo-Navarrete, 25, (a seller and broker's agent), Luis Navarrete, 21, (a closing agent), and her daughter-in-law Teresa Guillen, 24. Also implicated is Jose Rodriguez, 53, who is still at large, police said Friday.
The second case involved an alleged "cash back at closing
" - straw buyer scam
involving straw buyer Fernando Prado, 47, who worked with mortgage broker Tomas Tamayo, 39, and title agent Damaris Vallin, 36, to allegedly pull $75,000 in cash from a fraudulent closing. All three have been charged; the house is now in foreclosure.
The third case also involved an alleged cash back at closing
scam. A homeowner tipped off cops when approached by a buyer with an offer of approximately $100,000 more than the asking price
for his condo. The buyer allegedly wanted the money to be returned to him as cash back at closing, purportedly to make renovations to the property. Police arrested Nestor Camacho, 46, who allegedly acted as the buyer in the deal and title and closing agents David Rodriguez, 44, and Monica Zuluaga, 31. The mortgage broker allegedly involved, Jose Delgado, 26, has a warrant out for his arrest, police said.
For more, see 11 mortgage-fraud suspects arrested (Miami-Dade police rounded up 11 suspects who allegedly used stolen and falsified documents to commit mortgage fraud)
See also, 11 Arrested In Mortgage Fraud Schemes
(CBS 4, Miami, FL) identity theft