Merchants Bancorp of Indiana, a regional bank with a $500M multifamily loan book, has more than quintupled the money it has set aside to cover potential losses because of an increase in fraud in its loan portfolio. A Merchants Bank branch in Spring Grove, Minnesota. Merchants Bank’s net income fell by 50%, or roughly $38M year-over-year, in
Ike Suri – CEO of FundingShield NEWPORT BEACH, Calif., May 29, 2025–(BUSINESS WIRE)–In a major step toward protecting the integrity of the U.S. housing finance system, Fannie Mae CEO Priscilla Almodovar, FHFA Director Bill Pulte, and Palantir Technologies CEO Alex Karp have joined forces in a coordinated initiative to combat mortgage fraud across the homebuying
New allegations tied to a mortgage fraud scandal that rocked the industry and landed an executive in federal prison now implicate JPMorgan, the lender on the deal, and the borrower — New York’s Chetrit Group. Wells Fargo, which filed suit in federal civil court as trustee on a $481 million CMBS loan, alleges JPMorgan knew