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Tag Archives: mortage

Ex-mortgage broker sentenced for fraud

JACKSON — A former Rankin County mortgage broker has been sentenced to federal prison for 78 months for mortgage fraud and bank fraud. The Clarion-Ledger reports U.S. District Judge David Bramlette yesterday sentenced 39-year-old Warren Clifton Pierce to five years regarding mortgage fraud and 18 months for bank fraud. Bramlette said he was dismayed Pierce continued with criminal activity even ...

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Countrywide settles with FTC, will pay $108M

WASHINGTON — Two Countrywide mortgage servicing companies will pay $108 million to settle Federal Trade Commission (FTC) charges that they collected excessive fees from cash-strapped borrowers who were struggling to keep their homes. The $108 million represents one of the largest judgments imposed in an FTC case, and the largest mortgage servicing case. It will be used to reimburse overcharged ...

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