Hathaway Duke

Kimberly M. Davis, 42, Lee’s Summit, Missouri, was charged in a 14-count indictment returned by a federal grand jury in Kansas City, Missouri.  The federal indictment alleges that Davis used the names, Social Security numbers and birth dates…

[We clipped the graphic above - click for bigger - from Barry Ritholtz over at the Big Picture, who points out what a great piece of graphic-y information porn it is. We agree, and have added some highlights to make a point.] Over the past weeks, there has been almost wall to wall coverage of the mortgage meltdown, and it is without question the biggest financial story of 2007. So who can blame the average dude for coming to the conclusion that the entirety of the mortgage market is falling apart, or in some sort of barely contained chaos? But (as the graphic illustrates) let’s not forget that the mortgage meltdown is happening in the non-prime world (sub-prime and Alt-A)- roughly 20% of the market. The Prime mortgage market is far larger than sub-prime, is performing well, and thus far has seen almost zero spillover impact from the sub-prime crisis. Things may get uglier in the mortgage market, and this sub-prime catastrophe will have all sorts of direct and indirect effects on our economy, but for the average prime borrower (which is most of you who can document you income and have a 620 or better credit score) things have hardly changed….

As if there weren’t enough trouble at the Sexton Condo’s, what with the developers suing one another and all. We received a tip yesterday from a well placed source, that a drug bust went down, several units (four?) were raided, and that this bust involved the manufacture of illegal goodies. We haven’t seen anything official yet, so we’ll file this in the mostly unsubstantiated rumor file for now. The kicker? Our tipster says that while the raid was in process, the Hennepin County Sherrif’s office showed up to serve foreclosure notice on one of the units. Talk about a bad day. Know anything? Drop us a tip right here……

Ida Mathis, 52, Kansas City, Missouri, pled guilty to charges contained in a federal indictment admitting that she and co-defendant Larry D. Wills, 50, who resides with her, defrauded New Century Mortgage by submitting several fraudulent documents with…

First Choice Funding, Inc., License Number 13262, 2100 Riverchase Center, Suite 100, Birmingham, Alabama 35244, and the Georgia Department of Banking and Finance entered into a Consent Order to resolve allegations pertaining to violations of the Georgi…

Berne A. Watkins, 70, Glenmont, New York, pled guilty to one count of wire fraud and one count of aiding and abetting the making of false statements to obtain loans insured by the U.S. Department of Housing and Urban Development, both in connection wit…

Homequest Financial Services, Inc., License Number 17517, 655 Village Square Drive, Stone Mountain, Georgia, and its president, Anthony Brewer, entered into a Consent Order with the Georgia Department of Banking and Finance to resolve allegations perta…

John Y. Lee, a/k/a ”Yong Kook Lee,” 44, West New York, was arrested at his home by Special Agents with the FBI and IRS Criminal Investigation Division. Lee, a former director of Samsung America, Inc.‘s Korea Export Department was char…

Barry Chasky, 54, Point Lookout, New York, has been charged with Grand Larceny in the Second Degree, after allegedly embezzling nearly $900,000 from the escrow accounts of First American Title Insurance Company.  In a separate case, Joseph Corrado…

According to the latest figures released by the Mortgage Asset Research Institute, Inc., (“MARI”) in their April 2007 report, mortgage fraud in Georgia continues to decline. In fact, according to the MARI report, Georgia showed the greatest improve…