Mortgage Fraud Expert in Distressed Property

Case Description:

A mortgage fraud expert in valuation of distressed property was needed for a case alleging conspiracy, wire fraud and money laundering. The defendants were accused of conspiring to defraud lending institutions by flipping residential properties. Plaintiff alleged the defendants arranged for fraudulent appraisals after purchasing inexpensive homes. Based on the fraudulent appraisals, the defendants would convince banks to lend more money than the houses were worth, and pocket the excess loan proceeds. Borrowers in the scheme would then default on the mortgages, leaving the lender with virtually worthless collateral.

IMS ExpertServices was asked to locate mortgage fraud experts experienced in valuation of distressed and foreclosed real estate. The expert would be asked to opine on the real estate investment market, down payment procedures for purchasing distressed properties, and property valuation procedures for such properties.

Experts Presented:

  • Real Estate Valuation Expert

    This real estate valuation expert is a certified residential appraiser who's been licensed for more than 15 years. Her specializations include foreclosures and real estate owned properties, income producing properties, and HUD review. She is a member of the National Association of Insurance and Financial Advisors and serves as a national instructor for its education programs. This expert has experience advising clients on foreclosures, investment properties, mortgage refinancing, PMI removal, HUD review, and pre-purchase appraisal. IMS Reference #4996562

  • Mortgage Fraud Expert

    This mortgage fraud expert has 23 years of experience as a real estate investor. He earned his bachelor's degree from West Point and his M.B.A. from Harvard. He started out in the industry as a real estate agent and property manager. Eventually he became recognized as a real estate investment expert, publishing many books and articles on real estate investment strategies and investing successfully himself. He has commenting extensively on the nothing down and flipping movements in real estate, noting the risk these trends present for mortgage fraud and other pitfalls for the novice real estate investor. IMS Reference #500287

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