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Mortgage fraudster on the lam after scamming $16 million from lenders

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Mortgage Professional America | 01 May 2017, 07:38 AM Agree 0
Convicted in June for the same scam that earned his partner a 14-year prison term, a Texas mortgage fraudster decided not to show up for sentencing
  • Full Disclosure Please | | 01 May 2017, 12:01 PM Agree 0
    I hate these stories. WHEN... WHEN did this occur? There is virtually no chance of this being recent under current guidelines. Is this another of it happened in 2007, but only caught up with them lately stories?
  • Mike | | 01 May 2017, 12:12 PM Agree 0
    he went on the run last week (or at least didn't turn up for his sentencing then) and was convicted last year. The FBI's original 'he's on the run' press release doesn't give us any dates
  • Johnny Mortgage | | 01 May 2017, 02:06 PM Agree 0
    "Is this another of it happened in 2007, but only caught up with them lately stories?"

    Perhaps, or more likely, this another one of those, "..... the lender was competing with other banks on processing/underwriting turn times and didn't have time to 1)do an appraisal review 2) confirm the existence of the straw buyer's employer 3) check the title company and appraiser "last transaction on subject" section.
    THEN, the buyer defaulted but the value of the property (ies) tanked and the bank was damaged and the US Dept Justice did everything in their power to 'right the ship"
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