Tag Archives: general

Mortgage Fraud in Florida – Attorney General suit Largest Mortgage Fraud Case in the United States

[b]For a real estate property appraiser who does not inflate housing prices, turn to Florida’s Mid-State Appraisals for trustworthy, accurate, and timely appraisals with a fast turnaround time.[/b]



The Florida Attorney General sued 10 companies and 15 individuals for their alleged roles in a major mortgage fraud scheme in September, 2008 precipitating and preceding widespread bankruptcies on Wall Street.

Given the number of defendants, the case may be the largest mortgage fraud case ever filed in the United States. According to the lawsuit filed here in Orlando, the ring obtained more than $37-million in mortgages for at least 60 home purchases and siphoned off more than $6-million of the proceeds for their own use. Approximately 50 of the houses later went into foreclosure.

The particular situation victimized the economy according to Florida’s Attorney General Bill McCollum. The group of white-collar professionals systematically defrauded banks and mortgage lenders, stealing millions for their own personal use and leaving a gaping hole in the system.

According to the St. Petersburg Times, starting in July 2005 and continuing through at least January 2007, three of the ring’s leaders allegedly defrauded lenders by recruiting “straw buyers” with good credit and using them to create false applications to buy homes throughout Central Florida.

Even more astonishing and frightening is the lawsuit, filed by the Attorney General’s Mortgage Fraud Task Force, claims the ring conspired with Realtors to artificially inflate purchase prices, thus enabling them to obtain larger mortgage loans.

Considering this type of fraudulent activity is happening nationwide with realtors, mortgage brokers, and straw buyers collectively conspiring to deceive the banking industry; the American economy could be bankrupted rather quickly without aggressive regulation and enforcement.

Artificially boosting the prices of homes and providing mortgages far more than the actual sales price with the buyer or a third party pocketing the difference is a federal offence. Unfortunately for the American economy, it seems this type of activity has been going on for quite some time.

[b]For a real estate property appraiser who does not inflate housing prices, turn to Florida’s Mid-State Appraisals for trustworthy, accurate, and timely appraisals with a fast turnaround time. [/b]



The Attorney General’s office said there may be a separate investigation by the state Department of Business and Professional Regulation, which oversees the real estate industry. Thankfully, Attorney General Bill McCollum is aggressively prosecuting the fraud ring. This is precisely the type of aggressive legal intervention Florida and the American economy so desperately need.

Otherwise we would all be better served investing our dollars in a stronger, less volatile currency, with a more stable and regulated banking system such as the Euro or Chinese Yuan. For those with less intestinal fortitude, gold has proven a sure safe haven for centuries during economic decline and times of turbulence.



[b]Mid-State Appraisals founder Paul Davis has outstanding qualifications:[/b]

– State Certified Residential Real Estate Appraiser (License RD # 2667)

– Licensed Real Estate Broker (License BK # 161133)

– State Certified Building Contractor (License CBC # 040794)

– Over 20 Years of Professional Service to Eustis and Central Florida

– Unparalleled Knowledge and Outstanding Experience

– Efficient, Attentive, and Committed to Clients Needs

[b]Mid-State Appraisals[/b] provides professional services to Lake, Orange, Seminole, Osceola, Sumter, and the Davenport area of Polk County. Midstate Appraisals services are provided by committed professionals, dedicated to quality work, detailed research, and timely completion of assignments. Expect a speedy, accurate, and no hassle appraisal.

All appraisal reports comply with the Uniform Standards of Professional Appraisal Practice (USPAP).

Mid-State Appraisals staff has 20 years combined real estate experience of appraising properties in Eustis and Central Florida. They offer competitive fees, service 6 counties, are approved with nearly all major lenders, use the latest in computer technology, provide fast, consistent turnaround time and are licensed and insured by the State of Florida.



[b]Paul Davis[/b] is a trusted and reputable property appraiser frequently called upon by Eustis and Central Florida’s banks, homeowners, and savvy real estate investors to assess property values. A builder for over 20 years and also a real estate broker, Paul Davis brings a wealth of knowledge to the table as an appraiser.

Paul’s company Mid-State Appraisals serves Central Florida (Lake, Orange, Seminole, Osceola, Sumter and Davenport in Polk counties).

Contact Paul Davis and Mid-State Appraisals for your next appraisal:

Office: 352-242-9973

Cell: 352-636-6672

Fax: 352-242-4912




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Filed under business, economics, commerce, consumer advocacy, florida, wealth and prosperity

Orlando Police Department – No Pursuit Policy in Law Enforcement

Last night while walking to the pharmacy and Blockbuster a white expedition driving out of control nearly ran us and an Orlando police officer over.  After filling out a report on the incident, I learned from the local police officers that the fleeing owner of the vehicle had just buglarized and robbed someone in my neighborhood. Yet the police had been ordered by Lt. Peterson to not pursue.

I later learned about the “no pursuit policy” which over the last 2 years has led to a remarkable increase in crime across Orlando as criminals can drive away from the scene of a crime knowing full well that OPD has a “no pursuit policy”.  To make matters worse local news channels report such policies and alert criminals to their ability to flee and escape without repercussions.

The policy was originally created in the interest of other innocent pedestrians and drivers on the road to prevent them from dying or being hurt during police chases. Yet there surely must be some middle ground whereby law enforcement can pursue criminals but not endanger the general public. To withdraw from pursuing a criminal is equally jeopardizing to the safety of the general public and society.

If criminals are not punished they will keep committing crime.

Paul F Davis – international speaker, transformation coach, and author



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