Certified Forensic Loan Auditors, LLC

 
  Upcoming Classes

Search CFLA's Article Archive:

Another Pierce Commercial Bank Executive Sentenced for Mortgage Fraud

thewoodslawoffice.comMay 27, 2013

By Douglas Woods

As the housing market shows signs of recovery from the recent collapse, the number of people accused of mortgage fraud is on the rise.  In an effort to crack down on fraud, federal and state agencies have combined their resources to pursue criminal activity involving mortgage fraud.

In September 2012, the FBI reported that over the past three years, the U. S. Justice Department filed "more than 10,000 financial fraud cases against nearly 15,000 defendants including more than 2,700 mortgage fraud defendants." Their investigation methods include collecting data from all levels of the mortgage industry, to analyze it for emerging trend patterns.  This tactic led to the arrests and ultimate convictions of 10 former employees of Pierce Commercial Bank for a mortgage fraud scheme that ultimately led to the collapse of the Tacoma bank.

Shawn Portmann, a former senior vice president of the fallen bank, received a 10-year prison sentence after pleading guilty to charges of mortgage fraud. Portmann and nine former bank employees conspired to submit over 270 false mortgage loan documents.  Because of these fraudulent loans, the bank reported losing more than $10 million in profits.   Authorities from the FBI and HUD said the scheme involved bank personnel at every level of the mortgage loan process, making it difficult for them to detect the fraud.  Portmann's sentence includes five years supervised release, forfeit of $10 million earnings and $102,000 in cash stashed in a backpack.

Mortgage fraud investigators use a variety of techniques, often leaving those suspected of the crime with few resources to defend themselves. Tacoma fraud lawyers can defend your constitutional rights if you are accused of fraud by using false or stolen information on mortgage documents, including:

  • Foreclosures
  • Property flipping
  • Mortgage debt elimination
  • Equity skimming

If you are accused of fraud or other white collar crimes, contact the attorneys at The Woods Law Office .  We have extensive experience in conducting thorough investigations to provide you with an aggressive defense.

Back to May 2013 Archive

CFLA was founded by the Nation's Leading Foreclosure Defense Attorneys back in 2007 to serve the Foreclosure Defense Industry and fight pervasive Bank Fraud. Since opening our virtual doors, CFLA has rapidly expanded to become the premier online legal destination for small businesses and consumers. But as the company continues to grow, we're careful to hold true to our original vision. For us, putting the law within reach of millions of people is more than just a novel idea—it's the founding principle, just ask Andrew P. Lehman, J.D.. With convenient locations in Houston and Los Angeles, you can contact Our National Account Specialist and General Manager / Member Damion W. Emholtz at 888-758-2352 for a free Mortgage Fraud Analysis or to obtain samples of work product, including cutting edge Bloomberg Securitization Audits, Litigation Support, Quiet Title Packages, and for more information about our Nationally Accredited and U.S. Department of Education Approved "Mortgage Securitization Analyst Training Certification" Classes (3 days) 24 hours for approved CLE & MCLE Credit (Now Available Online).

SEE BELOW- http://www.certifiedforensicloanauditors.com

Call us toll free at 888-758-2352

Bookmark and Share
spacer
Facebook Like us on Facebook
Twitter Follow us on Twitter
YouTube View our YouTube Videos
LinkedIn Connect to us on Linkedin
 
BBB Logo

 

spacer
Contact us or view our Sample Documents & Audits by completing the form below.

  • Reload
  • Should be Empty:


 

DVD Sets Only $99

 

FREE Mortgage Fraud Analysis

 

Order Cutting-Edge Services Now

 

Quiet Title Packages from Licensed Attorneys

 

Affiliate Services

 

CFLA Sponsored Attorney Links

 

Take-Home Education Package

 

ALB Law Firm

 

Advocate Legal

 

The True News Network

 

Sutton Law Firm, P.L.L.C.

 

Rubenstein Business Law

 

Atighechi Law Group

 

Scunziano & Associates

 

Get Certified to Perform Mortgage Securitization Audits

 

CFLA Training Academy

 

Expert Witness Services

 

Cutting Edge Expert Securitization Reports

 

CFLA Credit Cards

 

Breaking News

 

Letters to the Editor

 

CFLA Weekly Newsletters

 

Code of Ethics

 

Testimonials

 

Instructional Videos

 

Job Opportunities

 

License Opportunities

 

MARS Rule

 

Product Samples

 

Resource Links

 

Servicer Information

 

Foreclosure Laws

 

REST Report

 

Quiet Title Packages from Licensed Attorneys

 

Advertise on CFLA

 

Advertising Space: Mortgage Securitization, Quiet Title

 

Certified Forensic Loan Auditors, LLC
13101 West Washington Blvd.
Suite 444
Los Angeles, CA 90066

Phone: 832-932-3951
Toll Free: 888-758-CFLA (2352)
Mobile Users: CLICK TO CALL
info@certifiedforensicloanauditors.com

   
 
CFLA IS NOT A LAW FIRM AND DOES NOT PROVIDE ANY LEGAL ADVICE. CFLA DOES NOT OFFER FORECLOSURE CONSULTING OR FORECLOSURE RELIEF
SERVICES. CFLA DOES NOT OFFER OR ASSIST WITH ANY LOAN MODIFICATION SERVICE. CFLA ALWAYS RECOMMENDS THAT CLIENTS RETAIN COMPETENT COUNSEL IN THEIR RESPECTIVE JURISDICTION. CFLA HAS A FREE PROGRAM TO REFER CFLA CLIENTS TO LAW FIRMS IN NEARLY EVERY STATE AND CFLA
DOES NOT CHARGE OR OBTAIN REFERRALS FEES FOR THESE SERVICES. SERVICES NOT OFFERED TO RESIDENTS OF THE STATE OF NEVADA.

 
Home About Us Privacy Policy Terms of Service Disclaimer SERVICES Careers Contact Us
 
COPYRIGHT © 2007-2016 Certified Forensic Loan Auditors ™ All rights reserved