Lie-to-Buy Mortgage Brokers & the FSA.

poppy10_2

FSA bans three more brokers for mortgage fraud
16 June 2010

The Financial Services Authority has banned three mortgage brokers, fining two of them £420,000, as part of its crack down on home loan fraud.


John Charalambous of The Financial Associates in Kent, Richard Granville Greenland of Guardian Property and Mortgages also in Kent and Michael Adam Goldman of Goldman Group in Manchester have all been banned by the FSA, taking to 93 the number of mortgage brokers excluded by the regulator.


Charalambous altered a mortgage application without the client's knowledge, increasing the size of the loan, and then pocketing the difference. Charalambous had also made false applications for life insurance policies in the name of clients in order to collect the commission. The FSA banned Charalambous and fined him £294,500 for committing serious mortgage fraud and posing a risk to consumers.

Richard Granville Greenland was banned and fined £120,000 for submitting mortgage applications which contained details he knew to be false.

The FSA banned Michael Adam Goldman for exaggerating his and client’s income in fraudulent mortgage applications made in 2007. Goldman would have been fined £102,000 if he had not been declared bankrupt in November 2009, according to the FSA.

FraudBuster

http://www.fsa.gov.uk/Pubs/final/michael_goldman.pdf

http://www.insolvency.gov.uk/eiir/IIRCaseIndivDetail.asp?CaseId=42461669&IndivNo=1&Court=BURY&OfficeID=33&CaseType=B

FraudBuster

Five banned, and one fined £130,000 and banned, as FSA continues crack down on mortgage fraud

FSA/PN/112/2010
05 July 2010
The Financial Services Authority (FSA) has banned six individuals, and fined one of them over £130,000, for failings in relation to mortgage fraud.

Continued:

http://www.fsa.gov.uk/pages/Library/Communication/PR/2010/112.shtml

FraudBuster

FSA fines three partners at Sheffield mortgage broker for systems and controls failures

FSA/PN/114/2010
07 July 2010
The Financial Services Authority (FSA) has fined three individuals at Pace Financial Management (Pace) in Sheffield for failures which led to the firm being used for financial crime.

Continued:

http://www.fsa.gov.uk/pages/Library/Communication/PR/2010/114.shtml

brit1234

Could this be why transaction levels are so low now?
:beer:

This program about it (2003)is based in my area. Being a key worker with a good deposit, good credit rating and good wage I was still priced out.

http://www.youtube.com/watch?v=vT1UnGS91BY

Jojo1daffy

I've investigated a mortgage fraud where the proof of residency supplied was a year old ( at the time of application) final demand gas bill. Common sense would sure tell you that if they aren't paying their gas bill they aren't going to pay their mortgage!

FraudBuster

Action taken against two brokers for mortgage fraud failings

FSA/PN/137/2010
31 August 2010
The Financial Services Authority (FSA) has taken action against two mortgage brokers whose reckless business practices allowed false and misleading mortgage applications to be made to lenders.
Ngozika Louise Ogboru who ran J N Finance (UK) Limited, a mortgage broking firm based in Harrow, has been banned from carrying out any regulated activity. Ronald Winton from Mortgage Healthcare Limited in Dundee has been fined £31,500, and will not be able to hold a senior position in a financial services firm for two years.

Continued:

http://www.fsa.gov.uk/pages/Library/Communication/PR/2010/137.shtml

FraudBuster

Mortgage broker's permission cancelled and individual fined for failing to be open with the FSA

FSA/PN/148/2010
27 September 2010
The Financial Services Authority (FSA) has taken action against an individual and a mortgage broker for failings including not being open and co-operative in their dealings with the FSA. David Roberts, sole director of A-Z Mortgages Limited, has been fined £14,000 and Hygeia Mortgages and Finance Limited has had its permission to undertake regulated activities cancelled.

Continued:

http://www.fsa.gov.uk/pages/Library/Communication/PR/2010/148.shtml

FraudBuster

FSA bans three fraudulent mortgage brokers and imposes fines totalling more than £400,000

FSA/PN/154/2010
12 October 2010
The Financial Services Authority (FSA) has banned three individuals for mortgage fraud and fined two of them a total of £414,683.
All three flouted the FSA’s rules by knowingly submitting false and misleading information to secure the mortgages for themselves and their customers.

Continued:

http://www.fsa.gov.uk/pages/Library/Communication/PR/2010/154.shtml

dollydiva

Fraudbuster never answers queries about who does or does not work for, but it doesn't need a Freud to figure out he has 'issues' with mortgage brokers...and a helluva lot of time on his hands...

Dd