1 minute readA New Jersey man on Tuesday admitted to conspiring to participate in a scheme which caused lenders to release more than $40.8 million based on fraudulent mortgage-loan applications, according to the U.S. Department of Justice. Charles Harvath, of Lodi, pleaded guilty to one count each of conspiracy to commit wire fraud and conspiracy to commit money laundering. According to documents filed in the case and statements made during the legal proceedings, 33-year-old Harvath and his co-conspirators recruited straw buyers who had good credit scores, but lacked the financial resources to qualify for a mortgage loan, to purchase a number of properties in New Jersey, Georgia and South Carolina.
Jason Philyaw was a reporter with HousingWire through mid-2012.see full bio
Most Popular Articles
Latest Articles
From resilience to antifragility: Rethinking cybersecurity for real estate and mortgage professionals
In information security, we’ve long spoken about resilience. The goal has been to withstand an attack, recover quickly, and return to business as usual. But in today’s environment—where attackers adapt and evolve daily—resilience is no longer enough. We must go further. We must embrace antifragility.
-
From local to global: RE/MAX’s Chris Lim on the next era of real estate relationships
-
Stop marketing like it’s 2008: You’re invisible
-
RE/MAX accelerates real estate innovation with AI and technology
-
Retirement plans for small-business owners have visible generational gaps
-
VA loans rise as housing market shifts toward buyers
Jason Philyaw was a reporter with HousingWire through mid-2012.see full bio