Widening mortgage fraud case sees three more charged

by Adam Smith23 Dec 2013
A widening mortgage fraud case has seen three people charged for steering home buyers toward a mortgage brokerage that allegedly falsified information.

Two Allentown, Penn., real estate agents and a bank officer have been charged over a fraud case that has previously seen six people indicted, The Morning Call has reported. Jose Antigua and Melquisidec Caraballo, agents with Dino Melendez Real Estate, and Princess Rosario, a bank officer with Mortgage IT, were accused by Federal prosecutors of steering buyers to a mortgage brokerage, Madison Funding, that would falsify information in order to ensure loans were approved. Rosario was separately accused of coaching loan officers at Madison Funding to falsify information on loan applications in order to see them approved.

The investigation has previously seen six Madison Funding employees indicted. A seventh was separately charged with making a false report to HUD, The Morning Call reported.