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California loan officer pleads guilty in $10 million fraud

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Mortgage Professional America | 26 Feb 2016, 02:10 AM Agree 0
A California mortgage officer has pleaded guilty to his role in a massive mortgage scam that cost lenders millions
  • AF991 | | 26 Feb 2016, 11:43 AM Agree 0
    I love how when a mortgage officer is charged with "fraud" they have to be "sentenced" but when banks are accused of fraudulent mortgages they just have to pay a fine with no one being prosecuted. As if the banking entity did the fraud through an automated system and there were no people associated with the decisions. Great justice system.
  • Steve | | 27 Feb 2016, 02:26 PM Agree 0
    Is Santa Barbara just too far of a drive? Just about every mortgage fraud investigation is in Sacramento while nothing is ever reported along the central coast. Guess everyone is bought and paid for, I couldn't anyone to their job.
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