Morning Briefing: LA woman jailed for foreclosure fraud

by Steve Randall06 Oct 2015
LA woman jailed for foreclosure fraud
A woman who ran a scheme which targeted homeowners with false promises of mortgage relief has been jailed in Los Angeles. Najia Jalan, a 31 year old from Costa Mesa, made promises to owners who were facing foreclosure that she could arrange mortgage payment relief or modifications. The OC Register reports that Jalan used false company names such as United National Mortgage Protection and OC Nonprofit to trick victims to pay large fees for fake services. Jalan was jailed for almost 6 years to be followed by a three-year supervised release and ordered to pay $236,000 in restitution.
Top New York realtors keep the best for themselves
Top real estate brokers in New York City are enjoying one of the perks of the job by snapping up some prime properties for themselves. An article in the New York Post says that the knowledge and access to some great homes that realtors have has meant some of them are landing properties that are the envy of their clients. Ryan Serhant of Nest Seekers International has recently picked up a $3.7 million penthouse in downtown Manhattan which he admits is “the exact layout so many of my clients want but can never find.” Meanwhile Frederik Eklund is now the neighbor of one of his a-list clients after buying a luxury condo in the same building as Tom Brady and overlooking the $20 million penthouse he sold to Jennifer Lopez.
Lawsuit launched over one-square foot land parcels
A lawsuit claims that five landowners in Glendale, CT are able to wield huge influence over the city’s development despite the size of their holdings. Summit Hospitality, which owns a hotel in the city says that officials used the owners of five one-square foot plots of land on the edge of a public park to ensure an election victory and establish a Downtown Development Authority. The authority has granted planning for a new entertainment and dining complex. The hotel chain says that the owners’ land parcels are essentially useless. The Denver Post reports that the city has dismissed the lawsuit as “frivolous”


Should CFPB have more supervision over credit agencies?