Feds in SoFla charge 10 with mail, wire fraud

Ten men have been charged with perpetrating a South Florida-based mortgage modification fraud that fleeced homeowners out of at least $7 million.

A federal mail and wire fraud indictment was filed in West Palm Beach against the men, Daily Business Review reported. According to the indictment, Jason Vitulano of West Palm Beach orchestrated a telemarketing operation as president of FHA All Day. Vitulano and nine alleged co-conspirators targeted borrowers behind on mortgage payments through telemarketing calls.

More than 2,000 mortgage holders paid fees and gave away personal financial information in applications solicited by Vitulano’s company from September 2008 to August 2009. FHA ALL Day described itself as a government agency affiliate with the authority to approve loan modifications. [Daily Business Review] — Eric Kalis

via The Real Deal Miami http://feedproxy.google.com/~r/trdnews_miami/~3/VhbCijgUZJQ/