Mortgage Fraud Expert Witnesses & $3.4M Ponzi Scam

Mortgage fraud expert witnesses may opine on residential mortgages, mortgage fraud, and wholesale mortgages, among other topics. The Denver Post writes that in today’s mortgage and loan industry, multiple assignments of the same loan are common and frequently not recorded. Because an assignment of a promissory note and deed of trust is not required to be recorded, a borrower has no way of knowing who holds them.

In Colorado, Citywide Banks tried to foreclose on a number of home buyers after entities affiliated with Lafayette-based Jaguar Group LLC failed to forward funds to the bank, which held the promissory notes on the properties. Similar cases are occurring throughout the state and country, said attorney Alan Sweetbaum. The cases that have garnered attention in Colorado all tie back to Jaguar. A state grand jury in March indicted five Jaguar officials, accusing them of defrauding lenders in a $3.4 million Ponzi scheme.

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