Mortgage companies accused of fraud, returned approximately $21 million to North Carolina consumers recently.

4 large mortgage companies — WR Starkey Mortgage, Beazer Mortgage, Vanderbilt Mortgage and Countrywide Homes — are accused of utilizing inaccurate information to obtain loans for consumers or working with home dealers to inflate the prices of homes.

The Commissioner of Banks and the Attorney General’s office collaborated to collect
- $4.7 million from WR Starkey
- $2.5 million from Beazer
- $2.8 million from Vanderbilt
- $11 million from Countrywide Homes

North Carolina Attorney General Roy Cooper called mortgage fraud investigations very labor intensive, due to the number of parties involved and the paperwork. He also noted that these types of problems are not easily detected.

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