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Loan officer convicted for role in $20m mortgage scam

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Mortgage Professional America | 19 Nov 2013, 12:18 AM Agree 0
A federal jury convicted a Virginia woman Friday for her role in a multimillion-dollar mortgage fraud scheme.
  • Lee in CA | | 19 Nov 2013, 12:04 PM Agree 0
    9 mortgages over 3 years makes Felicia Tsoa "small potatoes". Yet, she faces 30 years in prison. Obviously, federal prosecutors have no tolerance for fraud regardless of how small the player. I hope this serves as an object lesson for those that are currently crossing the line in order to make mortgages work. I have begun to see more and more of this type of "creative" manipulation, recently, in order to get mortgages to done. Old habits die hard... for borrower and originator alike. Let's not return to the wreckless days of the past. If brokers are to ever restore our reputation, then let's be a beacon for how to do things right.
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