Mortgage Servicing Fraud
occurs post loan origination when mortgage servicers use false statements and book-keeping entries, fabricated assignments, forged signatures and utter counterfeit intangible Notes to take a homeowner's property and equity.
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Wonder if this guy was also responsible for defrauding homeowners until his cash cow ceased giving milk.

Pennsylvania man gets jail for stripping home before sale


Mercer, Pa. -- Former mortgage broker Scott McCuskey gutted his $1.2 million home before it went up for sheriff's sale in 2006, and now he's going to jail for it.

According to The Herald newspaper, McCuskey admitted in court that he stripped the house of just about everything he could, including lights, window cranks, baseboards, ceiling and window trim -- even vent covers. He took closet shelving, cabinet doors and countertops, tub and shower fixtures. Toilets, sinks, vanities, carpeting. Locks and handles for the outside doors, garage doors, side doors and outside wall fixtures.

But wait, there's more.

McCuskey, 40, also removed the garage windows, a Jacuzzi, benches and everything else that wasn't nailed down. He was convicted of defrauding creditors and fraud in insolvency in April.

"This was stripping a house. This was theft. And you are a common criminal," Judge Thomas R. Dobson reportedly told him. Then he sentenced him to three to 15 months in county jail, and ordered him to pay more than $174,000 in restitution to Sovereign Bank, Reading, Pa., and insurers.

Despite several character witnesses and even a multimedia presentation showing how people commit similar crimes out of ignorance during foreclosure, Dobson didn't buy McCuskey's story that he didn't know it was a crime to strip his house before the sale.

"Unbelieveable. Unbelieveable. Unbelieveable," McCuskey said repeatedly after the sentencing.

McCuskey's home was first appraised at over a million dollars, but after stripping it down, it was reappraised at $180,000.

"It's over a six-figure theft," Dobson said. Normally, sentences would be served in a state prison, but Dobson felt a county sentence was more appropriate. He has a week to get his business affairs in order before he starts serving his sentence.

McCuskey is also required to do 50 hours of community service.

When and how much jail time will the financial criminals get for stealing homes and personal belongings?  According to this, they and their attorneys could all get life in prison.
I am working on it.
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4 justice now
Good news!

One more criminal broker put away. While I'm always happy to see a criminal get caught and be sent to jail, I'd certainly feel a lot better to see more of the big fish join him.

BTW: This article states that the home was originally appraised at over $1M and then reappraised at $180,000 after it was stripped. Can this be right, I wonder if they meant to say it reappraised $180,000 lower than the original appraisal?

After all the land has to have some value, right?


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Brokers are the lowest form of life on earth.  See and/or  Brokers get kickbacks from lenders to put you into the worst loan possible, not the best, which is what they purport to do.

A broker will tell you anything, do anything and have been confirmed at the art of changing the loan application after the client has signed it.  Congress has assigned blame for the mortgage crisis on mortgage brokers and appraisers.
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