Appraiser Indicted on Reverse Mortgage Fraud Charges

A Pennsylvania man faces up to 166 years in prison for allegedly defrauding the Federal Housing Administration with phony reverse mortgage appraisals — which, in turn, led to millions of dollars in default payouts. Eugene Peter Kenworthy, Jr. was indicted last week on charges including wire fraud and “false statements for the purposes of influencing […]

Postal Service Uses Reverse Mortgage ‘Scam’ for Good

Reverse mortgage professionals rightfully hate seeing stories of scams in the media — both because of the harm caused to the borrowers, and the potential hit that the products could take in the minds of the general public. But in an unexpected twist, one federal enforcement agency used a fake reverse mortgage scam to capture […]