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July 2022

Miami Developer

Miami Developer Busted For PPP Loan Fraud

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Mega-Millionaire Miami Developer Eric Sheppard Busted In $900,000 PPP Loan Fraud Scam Federal prosecutors have indicted mega-millionaire Miami Eric Sheppard developer. They claim Sheppard stole nearly $900,000 from the U.S. government’s Paycheck Protection Program (PPP). Sheppard owns WSG Development. Eric Sheppard is facing one felony count of wire fraud. Prosecutors allege he submitted “fraudulent” applications […]

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Feds Bitchslap Bank Of America

Feds Bitchslap Bank of America With $225 Million Fine

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Feds Bitchslap Bank of America With $225 Million Fine. Feds Claim BofA Froze Prepaid Cards For People Seeking Jobless Benefits.  The Feds bitchslap Bank of America with a $225 million fine by Federal regulators. The government accused the bank of shortcomings in how they handled jobless benefits during the COVID-19 pandemic.  The OCC and CFPB

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Fix-And-Flip Lender Kiavi Lays Off 7% Of It’s Employees

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The Fix-And-Flip Lender Eliminated 39 Positions To Ensure It Can Survive Through 2023 Fix-And-Flip lender Kiavi has laid off 7% of it’s employees. Kiavi specializes in fix-and-flip and investor loans. An email sent to employees on Wednesday morning said Kiavi wanted to, “reduce our cost structure and protect the financial health of the company.” Kiavi’s

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Fix-And-Flip Lender Kiavi Lays Off 7% Of It’s Employees Read Post »

Home Buyers

Home Buyers Are Abandoning Home Purchase Deals In Record Numbers

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Home Buyers Are Abandoning Purchase Deals In Record Numbers Thanks To Economic Uncertainty Americans home buyers are canceling deals to buy homes at record numbers. Redfin is reporting that 15% of all existing homes under contract were canceled. That is the highest share since early 2020. That beats 2021 when only 11% 0f purchase transactions

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Home Buyers Are Abandoning Home Purchase Deals In Record Numbers Read Post »

New York Mortgage Fraudsters

New York Mortgage Fraudsters Plead Guilty To Mortgage Fraud

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Two New York Mortgage Fraudsters Plead Guilty To Running A Mortgage Fraud Scheme In Connecticut  Two New York Mortgage Fraudsters pleaded guilty Tuesday for operating a wide-ranging mortgage fraud scheme. The scheme involved 24 mortgage loans on numerous multifamily housing properties in Hartford, Connecticut. The duo scammed nearly $50 million from different lenders. Jacob Deutsch

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