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Loan Modification Fraud

CALIFORNIA LOAN MOD AGENTS CONVICTED FOR FRAUD

A California woman will spend the next year under house arrest for defrauding borrowers who lost their homes to foreclosure.

Sara Beth Bushore Rosengrant and her accomplices Ziad Nabil Mohammed al Saffar were sentenced last week for operating a loan modification scam in San Diego. Not being a U.S. citizen, al Saffar will be deported after serving 21 months in federal prison. Both pleaded guilty to the scam. Daniel al Saffar also admitted working as a sales representative connected to the operation and will serve six months under house arrest. Each defendant paid $30,000 in restitution to the victims before being sentenced.

The three principal agents operated under a business name Compliance Audit Solutions or CAS Group. The scam entailed offering false audits of mortgages for borrowers who could no longer afford monthly payments and claiming to find “violations” in the documents to force the banks into negotiations.

The associated websites were deceptively named after the Home Affordable Modification Program, replete with claims that they were affiliated with the Department of Housing and Urban Development.

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