California loan officer pleads guilty in $10 million fraud

by Ryan Smith26 Feb 2016
A California loan officer has pleaded guilty to concealing a $10 million mortgage fraud conspiracy.

Christian Parada-Renteria, 40, pleaded guilty this week to one count of concealing a widespread conspiracy to commit with fraud and one count of concealing a mail fraud transaction, according to a report by the Sacramento Bee. Parada-Renteria is a loan officer at Delta Homes and Lending, a real estate and mortgage firm with five offices in the Sacramento area.

Authorities say Delta Homes founder and president Moctezuma Tovar and others engaged in a massive mortgage fraud conspiracy between 2004 and 2007, according to the Bee. Parada-Renteria allegedly assisted the conspirators with loan applications that contained false information and attempted to ensure that lenders didn’t question the phony applications or supporting documentation.

The total sales price of the homes involved in the fraud was more than $10 million. Mortgage lenders and others saw losses of at least $4 million as a result of the scam, the Bee reported.

Parada-Renteria is scheduled for sentencing in June, along with Tovar and several other co-conspirators.


  • by AF991 | 2/26/2016 11:43:18 AM

    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.

  • by Steve | 2/27/2016 2:26:16 PM

    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.


Should CFPB have more supervision over credit agencies?