FREEDOM MORTG. CORP. v. BURNHAM MORTG., INC.

No. 08-3007.

569 F.3d 667 (2009)

FREEDOM MORTGAGE CORPORATION, Plaintiff-Appellant, v. BURNHAM MORTGAGE, INCORPORATED, et al., Defendants-Appellees.

United States Court of Appeals, Seventh Circuit.

Decided June 23, 2009.


Attorney(s) appearing for the Case

Dennis A. Dressler (argued), Christian J. Jorgensen, Dressler & Peters LLP, Chicago, IL, for Plaintiff-Appellant.

Thomas B. Underwood, Attorney, Purcell & Wardrope, Barbara Gimbel, Holland & Knight, Joel D. Bertocchi, Hinshaw & Culbertson, David A. Baugh, Attorney, Baugh, Dalton, Carlson & Ryan, Chicago, IL, Robert A. Chapman, Attorney, Christopher C. Kendall, Attorney, Daniel Rozenstrauch, Attorney, Chicago, IL, for Defendants-Appellees.

Before EASTERBROOK, Chief Judge, and BAUER and EVANS, Circuit Judges.


EASTERBROOK, Chief Judge.

The goal of a mortgage-flipping scam is to deceive a potential lender about the value of the collateral. Go-between G finds a building for sale and arranges its sale to Buyer B for more than its market value. B borrows the money for the purchase, assisted by Appraiser A, who certifies to the lender that the property is worth more than the actual purchase price. Someone else (if not G himself) certifies that B has put in a substantial down...

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