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Fraud in Milwaukee, Wisconsin

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Senior Member
Dec 16, 2006
Professional Status
Certified General Appraiser
Here is a link to an excellent article about a subprime mortgage fraud scheme in Milwaukee, Wisconsin. The sidebar on the right even has a flow chart showing the cast of characters and their roles in the fraud.


OSU Beavers

Elite Member
Jan 10, 2007
Professional Status
Licensed Appraiser
Wow, how did the MB get $38,000 out of the deal?

I hope they get a common sense judge to credit that back to the borrower, then have whoever backs the title insurance company that passed the forgery and the appraisers E & O each pay at least $33,000 to make up the mortgage balance. If there is any short, then Central States Mortgage should have to eat it as they knew it was fraud yet still took it.
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