Feds indict 10 allegedly involved in loan-mod 'boiler room' operation

Ten residents of Florida, Massachusetts and New York have been indicted on conspiracy to commit mail and wire fraud charges in connection with alleged loan-mod “boiler room” operations that collected advance fees from distressed homeowners by promising to help them obtain loan modifications that, with few exceptions, were never provided.

Prosecutors allege that Jason Andrew Vitulano, 38, of West Palm Beach, was the organizer and operator of three companies that operated the telemarketing centers and made thousands of phone calls in 2008 and 2009 to homeowners who were behind on their mortgage payments: FHA All Day.com Inc., Housing Assistance law Center Inc., and Safety Financial Corp. Source: justice.gov.