Mortgage loan officer charged over false statements to FHA

The charge carries a penalty of up to 30 years imprisonment

Mortgage loan officer charged over false statements to FHA

A mortgage loan officer has been charged over allegations that she made false statements to the Federal Housing Administration to qualify for FHA-insured loans, according to an announcement by the US Attorney’s Office for the Eastern District of Louisiana.

Valerie Schones, a loan officer from an undisclosed mortgage lending institution based in Tucson, Ariz., was charged with making false statements to a financial institution. Jared Castellaw and Patrick Healy, employees of an undisclosed entity located in St. Bernard Parish, La., were charged along with Schones.

Authorities allege that from about October 2008 to May 2009, the three individuals made false statements to the FHA to qualify for FHA-insured loans.

If convicted, Schones, Castellaw, and Healy face a maximum of 30 years imprisonment, a fine of up to $1 million, supervised release of up to five years, and a special assessment of $100.

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