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» VISIT US ONLINE @ DSNEWS.COM 93 area reported 78 foreclosure completions in August, a drop of 7 percent from July and 61 percent year-over-year. "e decline in completed foreclosures paints a clearer picture of the strong housing market in Colorado," Ochsner said. "ere aren't that many distressed properties that are for sale currently, and they are being snapped up quickly." Colorado Men Sentenced for Role in TARP Fraud Two Colorado men were sentenced to time in federal prison and ordered to pay more than $1 million each in restitution for their roles in a scheme to defraud a Colorado bank that was a recipient of Troubled Asset Relief Program (TARP) funds. According to Christy Romero, special in- spector general for TARP (SIGTARP), and John Walsh, U.S. attorney for the District of Colorado, Christopher Tumbaga, 37, and Brian Headle, 38, each received a sentence of three years in federal prison and four years of supervised release, and each was ordered to pay $1,055,918 in restitution to the govern- ment for a fraud scheme perpetrated against Colorado East Bank & Trust. Court documents state that in March 2009, Headle contacted Tumbaga, a high school friend who was employed as a loan officer at Colorado East at the time, about se- curing a line of credit to finance Headle's real estate development business. Based on false financial information that Headle provided and Tumbaga intentionally failed to verify, Tumbaga allegedly secured a line of credit worth $250,000 for Headle. e two men then formed a partnership in which Tumbaga agreed to secure fraudu- lent loans for Headle, and in return, he would receive kickbacks financed by profits from Headle's real estate company. Court records show that between March 2009 and July 2011, Tumbaga obtained at least 14 such loans for Headle. "While taxpayers bailed out Colorado East Bank with $10 million in TARP bailout funds, bank loan officer Tumbaga chose to break the law, actively scheming with high school pal Headle to defraud the bank out of $1 million in loans," Romero said. "is crime could not have happened without a bank gatekeeper like Tumbaga, who opened the door to Headle while taxpayers ended up los- ing $2 million on their TARP investment." e two men were indicted for their role in the scam in September 2013. Tumbaga pleaded guilty in March 2014 to charges of bank fraud and illegally receiving kickbacks and was sentenced on September 30. Headle pleaded guilty to charges of corruptly influ- encing a bank officer in June 2014 and was sentenced on October 3. "e TARP program was designed to protect our economy by protecting banking institutions from fraud," Walsh said. "When an officer of a bank defrauds that institution, we will aggressively prosecute and seek to incarcerate those responsible." Hawaii RANK: 4 90+ Day Foreclosure Unemployment Delinquency Rate Rate Rate AUGUST 2014 1.93% 4.04% 4.3 YEAR AGO 1.99% 5.33% 4.8 YEAR-OVER-YEAR CHANGE -2.7% -24.2% -0.5 Top County HAWAII COUNTY 90+ Day Foreclosure Delinquency Rate Rate AUGUST 2014 2.30% 7.15% YEAR AGO 2.30% 9.68% YEAR-OVER-YEAR CHANGE -0.1% -26.1% Top Core-Based Statistical Area HILO, HI 90+ Day Foreclosure Delinquency Rate Rate AUGUST 2014 2.30% 7.15% YEAR AGO 2.30% 9.68% YEAR-OVER-YEAR CHANGE -0.1% -26.1% note: The 90+ day delinquecy rate is the percentage of outstanding mortgage loans that are seriously delinquent. The foreclosure rate is the percentage of outstanding mortgage loans currently in foreclosure. State rank is based on the August 2014 foreclosure rate. All fi gures are rounded to the nearest decimal. The unemployment rate refl ects preliminary August 2014 fi gures released by the Bureau of Labor Statistics. All other data courtesy of LPS Data & Analytics. Idaho RANK: 29 90+ Day Foreclosure Unemployment Delinquency Rate Rate Rate AUGUST 2014 1.26% 1.20% 4.7 YEAR AGO 1.59% 2.24% 6.2 YEAR-OVER-YEAR CHANGE -21.0% -46.4% -1.5 Top County MINIDOKA COUNTY 90+ Day Foreclosure Delinquency Rate Rate AUGUST 2014 2.28% 2.87% YEAR AGO 1.98% 4.37% YEAR-OVER-YEAR CHANGE 14.9% -34.3% Top Core-Based Statistical Area ONTARIO, OR-ID 90+ Day Foreclosure Delinquency Rate Rate AUGUST 2014 2.00% 2.37% YEAR AGO 2.68% 3.63% YEAR-OVER-YEAR CHANGE -25.5% -34.7% note: The 90+ day delinquecy rate is the percentage of outstanding mortgage loans that are seriously delinquent. The foreclosure rate is the percentage of outstanding mortgage loans currently in foreclosure. State rank is based on the August 2014 foreclosure rate. All fi gures are rounded to the nearest decimal. The unemployment rate refl ects preliminary August 2014 fi gures released by the Bureau of Labor Statistics. All other data courtesy of LPS Data & Analytics. Montana RANK: 37 90+ Day Foreclosure Unemployment Delinquency Rate Rate Rate AUGUST 2014 1.04% 0.84% 4.7 YEAR AGO 1.21% 1.06% 5.7 YEAR-OVER-YEAR CHANGE -14.2% -20.3% -1 Top County LINCOLN COUNTY 90+ Day Foreclosure Delinquency Rate Rate AUGUST 2014 1.64% 2.30% YEAR AGO 1.20% 1.42% YEAR-OVER-YEAR CHANGE 36.6% 62.4% Top Core-Based Statistical Area BUTTE-SILVER BOW, MT 90+ Day Foreclosure Delinquency Rate Rate AUGUST 2014 1.32% 1.33% YEAR AGO 1.45% 1.28% YEAR-OVER-YEAR CHANGE -8.7% 3.8% note: The 90+ day delinquecy rate is the percentage of outstanding mortgage loans that are seriously delinquent. The foreclosure rate is the percentage of outstanding mortgage loans currently in foreclosure. State rank is based on the August 2014 foreclosure rate. All fi gures are rounded to the nearest decimal. The unemployment rate refl ects preliminary August 2014 fi gures released by the Bureau of Labor Statistics. All other data courtesy of LPS Data & Analytics. Colorado's ranking among states in foreclosure rate for September 2014. Colorado's rate was 5 percent for the month. Source: RealtyTrac STAT INSIGHT 28

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