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BUENOS AIRES, Argentina, March 20, 2012 /PRNewswire via COMTEX/ - Researchers find high incidence rates and deaths in first-ever analysis of the disease impacts in Latin America Today, Latin American researchers and global health leaders revealed preliminary results from the first-ever study to estimate the burden and costs of meningococcal disease in the region. The study found a need for improved surveillance and better understanding of meningococcal epidemiology and information on costs to help devise meningitis vaccination programs. This new research was coordinated by the Sabin Vaccine Institute in partnership with the Pan American Health Organization (PAHO), the International Vaccine Access Center at Johns Hopkins University (JHU's IVAC) and the Centers for Disease Control and Prevention (CDC). Dr. Ciro de Quadros, Executive Vice President of the Sabin Vaccine Institute in Washington, D.C., said, "Clearly, meningitis is a real health and economic burden in Latin America. Too many children are debilitated or die from this serious disease, yet it is preventable by vaccines. Our new research proves that we need to improve our strategies to fight meningococcal disease." Dr. de Quadros spoke at the conclusion of the first Regional Meningococcal Symposium, convened by the Sabin Vaccine Institute and the Pan American Health Organization (PAHO), Regional Office of the World Health Organization (WHO). The symposium, which took place March 19 and 20 in Buenos Aires, brought together more than 150 researchers, vaccine experts, economists and others to evaluate the extent and cost of meningococcal disease and what obstacles impede its prevention through vaccination. "Few diseases have as much power to cause panic among the population as meningococcal disease, said Dr. Marco Aurelio Safadi, Head of the Pediatric Infectious Disease Division at Sao Luiz Hospital in Sao Paulo, Brazil. "This is primarily because of its potentially epidemic nature. The rapid on

BUENOS AIRES, Argentina, March 20, 2012 /PRNewswire via COMTEX/ - Researchers find high incidence rates and deaths in first-ever analysis of the disease impacts in Latin America Today, Latin American researchers and global health leaders revealed preliminary results from the first-ever study to estimate the burden and costs of meningococcal disease in the region. The study found a need for improved surveillance and better understanding of meningococcal epidemiology and information on costs to help devise meningitis vaccination programs. This new research was coordinated by the Sabin Vaccine Institute in partnership with the Pan American Health Organization (PAHO), the International Vaccine Access Center at Johns Hopkins University (JHU's IVAC) and the Centers for Disease Control and Prevention (CDC). Dr. Ciro de Quadros, Executive Vice President of the Sabin Vaccine Institute in Washington, D.C., said, "Clearly, meningitis is a real health and economic burden in Latin America. Too many children are debilitated or die from this serious disease, yet it is preventable by vaccines. Our new research proves that we need to improve our strategies to fight meningococcal disease." Dr. de Quadros spoke at the conclusion of the first Regional Meningococcal Symposium, convened by the Sabin Vaccine Institute and the Pan American Health Organization (PAHO), Regional Office of the World Health Organization (WHO). The symposium, which took place March 19 and 20 in Buenos Aires, brought together more than 150 researchers, vaccine experts, economists and others to evaluate the extent and cost of meningococcal disease and what obstacles impede its prevention through vaccination. "Few diseases have as much power to cause panic among the population as meningococcal disease, said Dr. Marco Aurelio Safadi, Head of the Pediatric Infectious Disease Division at Sao Luiz Hospital in Sao Paulo, Brazil. "This is primarily because of its potentially epidemic nature. The rapid on

Source : http://newscenter.springhillgrouphome.com/ http://springhillgrouphome.multiply.com/journal/item/58/Springhill_Group_Home_Impact_of_Budget_Cuts_on_Rural_Housing_and_Availability_of_Mortgage Springhill Group Home: Impact of Budget Cuts on Rural Housing and Availability of Mortgage http://newscenter.springhillgrouphome.com/2012/03/springhill-group-home-impact-of-budget-cuts-on-rural-housing-and-availability-of-mortgage/ The budget cuts on rural housing finance are raising many significant questions. In the present economic situation, where federal funding for the rural housing projects is much needed, the budget cut is really distressing. According to the rural market experts, Section 538 Rural Rental Loan Guarantee Program has offered the most effective service in this regard. However, the recent budget cut is much likely to affect the proceeding of this program and home loan rate for buying a rural property. Rural economics - Demand vs. supply Only about 19% Americans live in rural areas. The average yearly income of a rural household is lower than an urban one. The poverty rate in the rural America is about 15%, whereas the rate is almost 13% in urban America. Section 538 by United States Department of Agriculture (USDA) is the largest mortgage lender in rural America. Till the end of 2011, the program funded about 700 rural housing projects. Unfortunately, this program has become the primary victim of budget cut. It received 130 million USD in FY 2010; while in FY 2011, the Congress appropriated only 30 million USD. The appropriation for FY 2012 is zero. If Section 538 does not get any funding in this year, the prospect of the program is going to be doomed. Difficulties faced by rural housing development Considering budget deficit, one can say that it is difficult to construct affordable housing units in rural areas and thereby the obvious option of rental housing comes into play. Interested banks to offer mortgage loans in less developed rural ar

Hospital Corporation of America Chillers, Pumps, and Boiler Replacement Project Wednesday, January 18 · Edit "http://ambersanpedro.livejournal.com/1011.html This project consisted of removing and replacing (2) existing 1100 ton chillers, removing (4) existing tower water pumps which were replaced with (2), and removing (3) existing chilled water pumps which were replaced with (2). A single new 400HP boiler was installed where one of the existing original boiler's was demolished by an owner paid subcontractor separate from this contract. There was also a generator that was removed in order to make room in the chiller room for the new equipment and piping. A large condensing unit servicing some operating rooms had to be relocated in order to allow access to the mechanical room for demolition and delivery of the new equipment and piping. Much of the existing chilled water and tower water piping was removed and replaced with throughout the chiller room and on the mezzanine above the chiller room. Steam, condensate and fuel oil piping servicing the old boiler was removed and re-configured to meet the needs of the new boiler. Access to the south mechanical room was very limited. All of the equipment and piping had to be hoisted into and out of an access shaft just large enough for the new equipment. Besides the limited space, the set-up area for the hoisting rig was right next to the Emergency Room/Helepad entrance. The coordination with our hoisting and rigging subcontractor, the hospital personnel and Stanger Industries years of experience with similar projects proved invaluable on this challenging aspect of the project. One of the stipulations of this project was to insure that all systems would remain on line during the installation of all of the new equipment. In order to accomplish this task, isolation valves were installed in key locations to allow us to isolate this south mechanical room from the rest of the system and utilize the north mechanical room's

South Korea Group of Springhill: China's Export Machine Goes High-End2 +-6 Respot From its sprawling manufacturing base deep in China's southwestern Hunan province, some 100 kilometers from where Mao was born, construction-machinery maker Sany Group plans to take on the world. While workers in blue overalls and yellow hard hats crawl over huge mobile hydraulic cranes and cement mixer trucks in a gleaming factory, Sany President Tang Xiuguo sits in his expansive office nearby, discussing the opening of Sany factories in Brazil, India, and Alabama, as well as the soon-to-be-completed $475 million acquisition of Germany's Putzmeister, the world's largest maker of cement pumps. The bespectacled Tang, one of four founders of the 22-year-old company, aims to lift overseas sales, now some 5 percent of its $16 billion revenue, to up to one-fifth of revenues within five years. The phrase "Made in China" summons up images of cheap shoes, plastic toys, and electronics assembled in the vast factory complexes of Foxconn Technology Group (HNHPF). While China built its powerful export business-increasing 17 percent a year over the last three decades-on such light industry and electronics assembly, that is fast changing. Rising labor costs, up 15 percent annually since 2005, plus an appreciating currency, are putting new pressures on China's cheap manufacturing model and driving textile, shoe, and apparel factories to close or relocate to Vietnam, Cambodia, or Bangladesh. "China's share of the world's low-end exports has started to fall. This reflects a shift by Chinese producers into sectors where margins are higher rather than a failure to compete," wrote U.K.-based Capital Economics in a March 28 note. Chinese-built ships, for example, dominated the global market with a 41 percent share last year, well ahead of South Korea and Japan, according to London-based shipping services company Clarksons. Data from the International Trade Centre, a joint agen

Source : http://newscenter.springhillgrouphome.com/ Springhill Group Home: Impact of Budget Cuts on Rural Housing and Availability of Mortgage http://newscenter.springhillgrouphome.com/2012/03/springhill-group-home-impact-of-budget-cuts-on-rural-housing-and-availability-of-mortgage/ The budget cuts on rural housing finance are raising many significant questions. In the present economic situation, where federal funding for the rural housing projects is much needed, the budget cut is really distressing. According to the rural market experts, Section 538 Rural Rental Loan Guarantee Program has offered the most effective service in this regard. However, the recent budget cut is much likely to affect the proceeding of this program and home loan rate for buying a rural property. Rural economics - Demand vs. supply line-

News Center - Springhill Group Home Loans By Joseph Woelfel NEW YORK (TheStreet) - The Federal Reserve is poised to start a new round of stimulus,Bloomberg reported, citing the biggest bond dealers in the U.S. The Fed will inject more money into the economy next quarter by purchasing mortgage securities instead of Treasuries, the bond dealers said. The Fed may buy about $545 billion in home-loan debt, Bloomberg said. The Fed bought $2.3 trillion of Treasury and mortgage-related bonds between 2008 and June. Separately, Bloomberg reported the Fed and big banks fought for more than two years to keep details of the largest bailout in U.S. history a secret. Now, the rest of the world can see what it was missing, Bloomberg said, based on 29,000 pages of Fed documents obtained under the Freedom of Information Act and central bank records of more than 21,000 transactions. According to Bl

By Joseph Woelfel NEW YORK (TheStreet) - The Federal Reserve is poised to start a new round of stimulus, Bloomberg reported, citing the biggest bond dealers in the U.S. The Fed will inject more money into the economy next quarter by purchasing mortgage securities instead of Treasuries, the bond dealers said. The Fed may buy about $545 billion in home-loan debt, Bloomberg said. The Fed bought $2.3 trillion of Treasury and mortgage-related bonds between 2008 and June. Separately, Bloomberg reported the Fed and big banks fought for more than two years to keep details of the largest bailout in U.S. history a secret. Now, the rest of the world can see what it was missing, Bloomberg said, based on 29,000 pages of Fed documents obtained under the Freedom of Information Act and central bank records of more than 21,000 transactions. According to Bloomberg Markets magazine's January issue, the Fed didn't tell anyone which banks were in trouble so deep they required a combined $1.2 trillion on Dec. 5, 2008, their single neediest day; bankers didn't mention they took tens of billions of dollars in emergency loans at the same time they were assuring investors their firms were healthy; and no one calculated until now that banks got an estimated $13 billion of income by taking advantage of the Fed's below-market rates. Fed officials say almost all of the loans were repaid and there have been no losses, but details suggest the secret funding enabled the biggest banks to grow even bigger, according to Bloomberg. The six biggest U.S. banks - JPMorgan Chase(JPM_), Bank of America(BAC_), Citigroup(C_), Wells Fargo(WFC_), Goldman Sachs(GS_) and Morgan Stanley (MS_)which received $160 billion from the Troubled Assets Relief Program, borrowed as much as $460 billion from the Fed, Bloomberg calculated, citing data obtained from the Fed. - Written by Joseph Woelfel   >To contact the writer of this article, click here: Joseph Woelfel >To submit a news tip, send an email to: ti

http://ambersanpedro.livejournal.com/1011.html This project consisted of removing and replacing (2) existing 1100 ton chillers, removing (4) existing tower water pumps which were replaced with (2), and removing (3) existing chilled water pumps which were replaced with (2). A single new 400HP boiler was installed where one of the existing original boiler's was demolished by an owner paid subcontractor separate from this contract. There was also a generator that was removed in order to make room in the chiller room for the new equipment and piping. A large condensing unit servicing some operating rooms had to be relocated in order to allow access to the mechanical room for demolition and delivery of the new equipment and piping. Much of the existing chilled water and tower water piping was removed and replaced with throughout the chiller room and on the mezzanine above the chiller room. Steam, condensate and fuel oil piping servicing the old boiler was removed and re-configured to meet the needs of the new boiler. Access to the south mechanical room was very limited. All of the equipment and piping had to be hoisted into and out of an access shaft just large enough for the new equipment. Besides the limited space, the set-up area for the hoisting rig was right next to the Emergency Room/Helepad entrance. The coordination with our hoisting and rigging subcontractor, the hospital personnel and Stanger Industries years of experience with similar projects proved invaluable on this challenging aspect of the project. One of the stipulations of this project was to insure that all systems would remain on line during the installation of all of the new equipment. In order to accomplish this task, isolation valves were installed in key locations to allow us to isolate this south mechanical room from the rest of the system and utilize the north mechanical room's equipment to keep things on line. The shut-down/drain down of the towers was scheduled and coordinated with hosp

"http://www.fhanewsblog.com/2012/10/fha-warns-about-home-equity-mortgage-loan-scams/ The FHA official site includes a page about reverse mortgages and Home Equity Conversion Mortgages. On that page, you'll find a warning from the FHA and HUD about scam artists who take advantage of some loan applicants who don't know enough about the FHA's free information on HECM loans and reverse mortgage loans. "Reverse mortgages are becoming popular in America" the FHA site says, "Reverse mortgages are a special type of home loan that lets a homeowner convert the equity in his/her home into cash. They can give older Americans greater financial security to supplement social security, meet unexpected medical expenses, make home improvements, and more. If you are interested in a reverse mortgage, beware of scam artists that charge thousands of dollars for information that is free from HUD!" The warning is good-but what kind of information are these scam artists charging so much money for? According to the FHA, simple details such as the nature of a HECM loan, who is eligible, even free advice about whether a borrower should us an estate planner to find a participating lender. On this topic, the FHA and HUD advise: "FHA does NOT recommend using any service that charges a fee for referring a borrower to an FHA-approved lender.  You can locate a FHA-approved lender by searching online at www.hud.gov or by contacting a HECM counselor for a listing. Services rendered by HECM counselors are free or at a low cost.  To locate a HECM counselor Search online or call (800) 569-4287 toll-free, for the name and location of a HUD-approved housing counseling agency near you". Very good advice for borrowers age 62 an older (the only people who qualify for FHA HECM loans) interested in applying for an FHA Home Equity Conversion Mortgage. Here's another fact about HECM loans you might not know-according to the FHA official site: "By law, you have three calendar da

"Springhill Group Korea : News Center - Springhill Group Home Loans - BlogSpot http://newscenter-springhillgrouphome.blogspot.com/ FHA Warns About Home Equity Mortgage Loan Scams The FHA official site includes a page about reverse mortgages and Home Equity Conversion Mortgages. On that page, you'll find a warning from the FHA and HUD about scam artists who take advantage of some loan applicants who don't know enough about the FHA's free information on HECM loans and reverse mortgage loans. "Reverse mortgages are becoming popular in America" the FHA site says, "Reverse mortgages are a special type of home loan that lets a homeowner convert the equity in his/her home into cash. They can give older Americans greater financial security to supplement social security, meet unexpected medical expenses, make home improvements, and more. If you are interested in a reverse mortgage, beware of scam artists that charge thousands of dollars for information that is free from HUD!" The warning is good-but what kind of information are these scam artists charging so much money for? According to the FHA, simple details such as the nature of a HECM loan, who is eligible, even free advice about whether a borrower should us an estate planner to find a participating lender. On this topic, the FHA and HUD advise: "FHA does NOT recommend using any service that charges a fee for referring a borrower to an FHA-approved lender. You can locate a FHA-approved lender by searching online at www.hud.gov or by contacting a HECM counselor for a listing. Services rendered by HECM counselors are free or at a low cost. To locate a HECM counselor Search online or call (800) 569-4287 toll-free, for the name and location of a HUD-approved housing counseling agency near you". Very good advice for borrowers age 62 an older (the only people who qualify for FHA HECM loans) interested in applying for an FHA Home Equity Conversion Mortgage. Here's another fact about HECM loans you might n

News Center - Springhill Group Home LoansBy Joseph Woelfel NEW YORK (TheStreet) - The Federal Reserve is poised to start a new round of stimulus,Bloomberg reported, citing the biggest bond dealers in the U.S. The Fed will inject more money into the economy next quarter by purchasing mortgage securities instead of Treasuries, the bond dealers said. The Fed may buy about $545 billion in home-loan debt, Bloomberg said. The Fed bought $2.3 trillion of Treasury and mortgage-related bonds between 2008 and June. Separately, Bloomberg reported the Fed and big banks fought for more than two years to keep details of the largest bailout in U.S. history a secret. Now, the rest of the world can see what it was missing, Bloomberg said, based on 29,000 pages of Fed documents obtained under the Freedom of Information Act and central bank records of more than 21,000 transactions. According to Bloomberg Markets magazine's January issue, the Fed didn't tell anyone which banks were in trouble so deep they required a combined $1.2 trillion on Dec. 5, 2008, their single neediest day; bankers didn't mention they took tens of billions of dollars in emergency loans at the same time they were assuring investors their firms were healthy; and no one calculated until now that banks got an estimated $13 billion of income by taking advantage of the Fed's below-market rates. Fed officials say almost all of the loans were repaid and there have been no losses, but details suggest the secret funding enabled the biggest banks to grow even bigger, according toBloomberg. The six biggest U.S. banks - JPMorgan Chase(JPM_), Bank of America(BAC_),Citigroup(C_), Wells Fargo(WFC_), Goldman Sachs(GS_) and Morgan Stanley (MS_)which received $160 billion from the Troubled Assets Relief Program, borrowed as much as $460 billion from the Fed, Bloomberg calculated, citing data obtained from the Fed. - Written by Joseph Woelfel >To contact the writer of this article, click here: Joseph Woelf

Posted by Springhill Group Home Loans on 12/9/2011 9:54 PM By Joseph Woelfel NEW YORK (TheStreet) - The Federal Reserve is poised to start a new round of stimulus,Bloomberg reported, citing the biggest bond dealers in the U.S. The Fed will inject more money into the economy next quarter by purchasing mortgage securities instead of Treasuries, the bond dealers said. The Fed may buy about $545 billion in home-loan debt, Bloomberg said. The Fed bought $2.3 trillion of Treasury and mortgage-related bonds between 2008 and June. Separately, Bloomberg reported the Fed and big banks fought for more than two years to keep details of the largest bailout in U.S. history a secret. Now, the rest of the world can see what it was missing, Bloomberg said, based on 29,000 pages of Fed documents obtained under the Freedom of Information Act and central bank records of more than 21,000 transactions. According to Bloomberg Markets magazine's January issue, the Fed didn't tell anyone which banks were in trouble so deep they required a combined $1.2 trillion on Dec. 5, 2008, their single neediest day; bankers didn't mention they took tens of billions of dollars in emergency loans at the same time they were assuring investors their firms were healthy; and no one calculated until now that banks got an estimated $13 billion of income by taking advantage of the Fed's below-market rates. Fed officials say almost all of the loans were repaid and there have been no losses, but details suggest the secret funding enabled the biggest banks to grow even bigger, according toBloomberg. The six biggest U.S. banks - JPMorgan Chase(JPM_), Bank of America(BAC_),Citigroup(C_), Wells Fargo(WFC_), Goldman Sachs(GS_) and Morgan Stanley(MS_)which received $160 billion from the Troubled Assets Relief Program, borrowed as much as $460 billion from the Fed, Bloomberg calculated, citing data obtained from the Fed. - Written by Joseph Woelfel >To contact the writer of

CONSUMER SCAM (Barry Calvagna) aka/ United Abstract Group, Inc. aka/ American Consolidebt, Inc. aka USR Group, Inc. Paystar International aka Conway and Phillips The associates group See Also LINK COMPLAINTS HERE 2387 New York Ave., #8 Huntington Station, NY 11746 Phone: (800) 344-1588 (631) 421-1397 Fax: (631) 421-1397 918 Jericho Turnpike Huntington Station, NY 11746 Phone: 631-421-1533 888-380-3516 866-509-3202 Fax: 631-421-1890 Fax: 631-755-3069 Florida: United Abstract Group, Inc.PO BOX 6812 Spring Hill, FL 34611 (352) 684-8693 (352) 666-0466 fax (866) 684-8693 USR Group, Inc. 33 Walt Whitman Rd, Ste 209 Huntington Station, NY 11746-4281 Web Address: www.unitedabstractgroup.com Quick Analysis Consumer Comments Below We thought this scam died back in the nineties, but it is alive and well, operating from Huntington Station, from New York. Debt buyers United Abstract Group, Inc., are bottom feeders who use their entity of C. Barry & Associates, LLC, who operate out of the same address to lie, intimidate and totally misrepresent their illegal debt collection practices. Owners Barry Calvagna and Anthony Picone are about to feel the wrath of the legal system for their blatant disregard for the law and consumer rights. Not to mention the fact that we could NOT locate one state where they are licensed or bonded in. Calls to their office result

http://www.valueinvestingnews.com/news-center-%E2%80%93-springhill-group-home-loans-america%E2%80%99s-choice-h-0   America's Choice Home Loans announced the opening of Branch 1013, located in Newberg, Oregon. Managed by Jerry Holman, a long time veteran of the mortgage industry, the branch opened on October 20. "Please give Jerry a warm welcome and let him know he is a part of our family," says Jonathan Fowler, Director of National Production for the company. "Jerry, thank you very much for choosing America's Choice Home Loans. We appreciate you and your office and are here to make your lending career bigger and brighter than ever. You will find out why we are America's Choice Home Loans - Thank you very much and welcome." Being an expert in home loan and mortgage, Jerry will continue to concentrate on helping customers with their residential home loan needs. America's Choice Home Loan is continuously searching for experienced mortgage loan originators to join the company. Contrary to many in the industry who have been discouraged, scaled back or closed down completely, Mr. Fowler is unfazed. "America's Choice has the ability to expand, including the capacity for rapid growth. We have been positioning ourselves for this, and we're ready," adds Mr. Fowler. America's Choice Home Loans LP is located at 8584 Katy Freeway, Suite 200, Houston TX 77024 and can be reached at 713-463-6779. Visit their website www.achlonline.com and their Facebook fan page. About America's Choice Home Loans LP America's Choice Home Loans LP has been a retail mortgage lender since 1998. The company is a HUD, VA and USDA approved mortgagee headquartered in Houston, TX.

Mortgage fraud is crime in which the intent is to materially misrepresent or omit information on a mortgage loan application to obtain a loan or to obtain a larger loan than would have been obtained had the lender or borrower known the truth. In United States federal courts, mortgage fraud is prosecuted as wire fraud, bank fraud, mail fraud and money laundering, with penalties of up to thirty years imprisonment.As the incidence of mortgage fraud has risen over the past few years, states have also begun to enact their own penalties for mortgage fraud. Mortgage fraud is not to be confused with predatory mortgage lending, which occurs when a consumer is misled or deceived by agents of the lender. However, predatory lending practices often co-exist with mortgage fraud. Types Occupancy fraud: This occurs where the borrower wishes to obtain a mortgage to acquire an investment property, but states on the loan application that the borrower will occupy the property as the primary residence or as a second home. If undetected, the borrower typically obtains a lower interest rate than was warranted. Because lenders typically charge a higher interest rate for non-owner-occupied properties, which historically have higher delinquency rates, the lender receives insufficient return on capital and is over-exposed to loss relative to what was expected in the transaction. In addition, lenders allow larger loans on owner-occupied homes compared to loans for investment properties. When occupancy fraud occurs, it is likely that taxes on gains are not paid, resulting in additional fraud. It is considered fraud because the borrower has materially misprepresented the risk to the lender to obtain more favorable loan terms. Income fraud: This occurs when a borrower overstates his/her income to qualify for a mortgage or for a larger loan amount. This was most often seen with so-called "stated income" mortgage loans (popularly referred to as "liar loans"), where the borrower, or a l

owers may conceal obligations, such as mortgage loans on other properties or newly acquired credit card debt, to reduce the amount of monthly debt declared on the loan application. This omission of liabilities artificially lowers the debt-to-income ratio, which is a key underwriting criterion used to determine eligibility for most mortgage loans. It is considered fraud because it allows the borrower to qualify for a loan which otherwise would not have been granted, or to qualify for a bigger loan than what would have been granted had the borrower's true debt been disclosed. Fraud for profit: A complex scheme involving multiple parties, including mortgage lending professionals, in a financially motivated attempt to defraud the lender of large sums of money. Fraud for profit schemes frequently include a straw borrower whose credit report is used, a dishonest appraiser who intentionally and significantly overstates the value of the subject property, a dishonest settlement agent who might prepare two sets of HUD settlement statements or makes disbursements from loan proceeds which are not disclosed on the settlement statement, and a property owner, all in a coordinated attempt to obtain an inappropriately large loan. The parties involved share the ill-gotten gains and the mortgage eventually goes into default. In other cases, naive "investors" are lured into the scheme with the organizer's promise that the home will be repaired, repairs and/or renovations will be made, tenants will located, rents will be collected, mortgage payments made and profits will be split upon sale of the property, all without the active participation of the straw buyer. Once the loan is closed, the organizer disappears, no repairs are made nor renters found, and the "investor" is liable for paying the mortgage on a property that is not worth what is owed, leaving the "investor" financially ruined. If undetected, a bank may lend hundreds of thousands of dollars against a property that is act

Mortgage fraud is crime in which the intent is to materially misrepresent or omit information on a mortgage loan application to obtain a loan or to obtain a larger loan than would have been obtained had the lender or borrower known the truth. In United States federal courts, mortgage fraud is prosecuted as wire fraud, bank fraud, mail fraud and money laundering, with penalties of up to thirty years imprisonment.As the incidence of mortgage fraud has risen over the past few years, states have also begun to enact their own penalties for mortgage fraud. Mortgage fraud is not to be confused with predatory mortgage lending, which occurs when a consumer is misled or deceived by agents of the lender. However, predatory lending practices often co-exist with mortgage fraud. Types Occupancy fraud: This occurs where the borrower wishes to obtain a mortgage to acquire an investment property, but states on the loan application that the borrower will occupy the property as the primary residence or as a second home. If undetected, the borrower typically obtains a lower interest rate than was warranted. Because lenders typically charge a higher interest rate for non-owner-occupied properties, which historically have higher delinquency rates, the lender receives insufficient return on capital and is over-exposed to loss relative to what was expected in the transaction. In addition, lenders allow larger loans on owner-occupied homes compared to loans for investment properties. When occupancy fraud occurs, it is likely that taxes on gains are not paid, resulting in additional fraud. It is considered fraud because the borrower has materially misprepresented the risk to the lender to obtain more favorable loan terms. Income fraud: This occurs when a borrower overstates his/her income to qualify for a mortgage or for a larger loan amount. This was most often seen with so-called "stated income" mortgage loans (popularly referred to as "liar loans"), where the borrower, or a l