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October 2007
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The FBI Investigates Mortgage Fraud!

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American Home Mortgage Investigated for Mortgage Fraud

If you visit American Home Mortgage’s website, you’ll be greeted with the following message:

Important Notice: American Home Mortgage is unable to continue the origination or funding of mortgage loans, and no new loans are being accepted. After carefully assessing the sudden adverse impact on the Company’s business with respect to its liquidity, due to the extraordinary disruptions now occurring in the secondary mortgage and real estate markets, American Home Mortgage Investment Corp. and certain of its subsidiaries have filed voluntary petitions for relief under Chapter 11 of the U.S. Bankruptcy Code in the U.S. Bankruptcy Court for the District of Delaware.

If you want one possible take on what is really going on, check out this summary of related events from Sarah Ryley at the Brooklyn Daily Eagle

American Home Mortgage — once among the nation’s 10 largest lenders before filing for bankruptcy in August and laying off most of its 7,000 employees (including 1,400 on Long Island) — is under investigation for criminal misconduct by the FBI and federal prosecutors from the Eastern District in Brooklyn, Newsday reports.

The investigation is in its preliminary stages, and is looking into whether various federal statutes such as conspiracy, securities, mail and wire fraud, and money laundering were violated, resulting in the company’s bankruptcy, according to Newsday.

“Given the hundreds of millions of dollars lost in the company’s collapse, a conviction for fraud could led [sic] to prison sentences of 10 years or more under federal sentencing guidelines.”

Posted By: Ralph Roberts @ 4:33 pm Comments (18)
Filed under: Mortgage Fraud,New York


  1. My name is Delena LaMacchia I read the article on American Home Mortgage. I have been a victim of them and my loan documentation was falsified . My loan was sold to EMC Mortgage and it was not the loan that American Home was suppose to give me it was a loan that I did not know or was informed about. I am trying to get help to get out of this loan that they falsified and I am not getting anywhere and I don’t want to lose my home.
    Please respond


    Delena LaMacchia

    Comment by Delena LaMacchia — October 13, 2007 @ 9:25 pm

  2. I was defrauded by Concord Mortgage who is “sister” to American Home, and to EMC also who are siblings of parent company Bear-Stearns. I had the same bait & switch tactic done to me, and am about to lose my home also. Up to this point my credit is excellent, I pay option one on time every month and have never been late with anything. Now at 60 years old, with my two pets will be living in the street because of this.

    Comment by kathy — October 20, 2007 @ 8:16 am

  3. Delena,

    you are not alone here. I am also trying to get out of a loan with them. My house has decreased in value to a point that I cannot get another lender to refi me out of it.
    AHM requires that a person go into defualt before they will modify their rate, and even then there is not guarantee.
    It turns out that they have been doing their own thing over there and not reviewing the servicing contracts for the individual investors to determine if loan mods are allowed.
    I was told that “my loan was to valuable to the Hedge Fund it was in so they wouldn’t modify my 8.6% rate –
    I have a line of credit of $192,000- on my house so their 1st is an 70% LTV – they told me because of that my house is a “good” on to foreclose on.

    If you get behind in your payments they will suggest that you put money in a “suspense” fund to show that you are making an effort.
    Guess what? They steal it and do not pass it on to the investor of the note.

    This all came out in a Deposition on Wednesday in their bankruptcy court.

    Comment by Anna — October 20, 2007 @ 6:56 pm

  4. EMC Mortgage victims please go to and pos tyour story on their forum. This group took down Fairbanks, Ameriquest and others. They now have their sights on EMC and Litton.

    Comment by Samantha — October 24, 2007 @ 5:04 pm

  5. Emc mortage did the same thing to me. My mortgage was with centura and switched to Emc without my knowledge. My home was on the auction block May 12, 2008. I lost my home after being in it for 18 years. My credit was perfect until EMC took over my mortgage.

    Comment by patricia — May 27, 2008 @ 7:10 pm

  6. Our home has been with Option One and as of July 1, 2008 Option One changed to American Home Mortage. We are trying to get a modification done as our account is in foreclosure. No sale date yet, though. We have been making monthly payments, but are still behind. Of course, everytime you call, you get different answers. Does anyone knwo anything about Oceanview Equity or Oceanview Investments? They said they could help, of course with a fee. (Like we have all this money lying around colelcting dust) If American Home Mortage is having problems, how are they servicing loans now?

    Comment by Julie — August 11, 2008 @ 1:32 pm

  7. I have just contacted Oceanview Equity as well and doing my research any luck with them anyone?

    Comment by Martha — August 22, 2008 @ 2:08 pm

  8. I have started with Oceanview Equity also, have not found anything bad mentioned about them so far, but I think this is a brand new service they are starting to provide, so unfortunately I think we will be the guinipigs. But I am desperate, as HSBC is trying to foreclose on us if we don’t make some HUGE qualifying payment to do a 6 month modification. If I had that kind of money, I wouldn’t need help!

    Comment by stephanie — August 25, 2008 @ 6:01 am


    When we started working with them at the end of Sept. 2008 we were 1 1/2 months behind on our mortgage. Our house is going to be sold on 10/31/08, because “someone dropped the ball” as our mitigator put it. Our mortgage company WILL NOT deal with them!!! They told us that we pretty much paid $1200 so they could fax the paper work for us THAT I PUT TOGETER! PLEASE contact your mortgage company, and work with them. It is Oceanviews fault that we are losing our home, we are in a worst place than when we first called them!

    When they “sell” you their service they will call you all the time because they are trying to get your money. After getting your money it´s like pulling teeth to get ahold of someone!

    Please contact me if you have anymore ????

    Comment by lost — October 17, 2008 @ 9:44 pm

  10. Loss Mitigation sure sounds official. Most people don’t understand what it is, how it works and if it works. “lost” is finding out that maybe it doesn’t work.

    To “lost”: Don’t lose your house…Fight and DEFEND your foreclosure action. While you may be behind in your payments the foreclosure action being taken against you may in itself be ILLEGAL.

    There are no lenders that you or loss mitigators are talking to. You are always talking to a Servicing Company – basically a collection company – who has purchased the right to collect payments on behalf of the mortgage note owner and receive a fee for doing so.

    CAUTION: When trying to negotiate be careful as to what information you give out, what paperwork you fill out, what you say and do. Often this information is used against you and not for you.

    Comment by Larry Rubinoff — October 18, 2008 @ 2:54 pm

  11. We had our loan with Option One and in July was switched to American Home…..I have tried to work with them…but then realized theri phone number leads you to “indian-speaking” glorified collection agents…they have no power to do anything…after I ignored calls for months..after being denied, we finally received a loan modification document…modifying our loan for 5 yrs down to 5%…however, it required an $8k qualifying payment….while the loan modification rate was great..there was no way to come up with 8k…so I missed the deadline..I did send them a later asking them to wave the requirement or put in at the end of the loan…i got nothing…so now we are 9 months behind. I receive a call from AHM every morning..but no other communication…I am not sure what is happening…I explained in a letter to them that they should not let 8k put them and me in a NO-WIN situation…we both lose….

    Comment by just waiting — October 24, 2008 @ 10:14 am

  12. I found where AHM edited the date that they were paid off. what this does is charges more interest and consumes the escrow. nice trick AHM but I’m not going to take it.

    Comment by David Smith — August 25, 2009 @ 4:24 pm

  13. My mortgage was through American Home Mortgage and they sold my mortgage to Aurora Loan Services. It was a “No doc” loan and I was told my payments would not go up because the rate was fixed for 30 years — yea, right, after it was sold my payments jumped by $500.00 more per month and the payments were ridiculous and I could not pay 2,500.00 a month when I was only making 25,000.00 a year.

    Comment by Ursula L. — October 2, 2009 @ 10:45 pm

  14. Hi homeowners,

    I have found this website that will help homeowners cancel their mortgage and never make another payment to the “servicer”.

    They are very knowledgable and will teach you how the fraud was committed and how to obtain a “Quiet Title” to your home.

    Please check them out… They are a godsend.

    Comment by Lynn — February 1, 2010 @ 11:49 am

  15. Hi homeowners,

    I have found this website that will help homeowners cancel their mortgage and never make another payment to the “servicer”.

    They are very knowledgable and will teach you how the fraud was committed and how to obtain a “Quiet Title” to your home.

    Comment by Lynn — February 1, 2010 @ 11:52 am

  16. Thank you ever so for you blog post.Really looking forward to read more. Keep writing.

    Comment by Monica Armitage — February 17, 2012 @ 10:39 pm

  17. HI Go to passion for america ,watch on u tube very helpfull most foreclosure are forged

    Comment by maggie walker — June 18, 2013 @ 12:19 am

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