Mortgage company head to face sentencing

by Justin da Rosa12 Aug 2015
Moctezuma Tovar, founder and president of Delta Home and Lending Inc., and Sandra Hermosillo, an employee of Delta Home, pleaded guilty to conspiracy commit mortgage fraud Monday.

According to federal prosecutors, the two submitted fraudulent loan applications and documents to lenders from October 2004 to May 2007. Prosecutors allege these applications contained misleading asset, income, and employment information.

Two other defendants have pleaded guilty as well, and three other people associated with the case have a trial date set for September.

This is the second time Tovar and Hermosillo have been named in a mortgage fraud case.

Earlier this year, the pair were co-defendants in a case in which a Sacramento-based real estate agent pleaded guilty to conspiracy to commit wire fraud related to mortgages.

In that case, court documents allege Manuel Herrera and co-defendants received home loans based on false information. Those documents contained misleading information about borrower assets, income, debts, employment status, and citizenship.
 

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