A Connecticut originator has been fined US $1.2m for submitting loan applications with fraudulent borrower information
A Connecticut mortgage company owner and broker has been fined US 1.2m for submitting loan applications with fraudulent borrower information.
Charmaine Davis, of Waterbury, Connecticut, has been investigated by the FBI, the US Postal Inspection Service, the US Department of Housing and Urban Development, and the Federal Housing Finance Agency .
The case is being prosecuted as a criminal case under Assistant US Attorney General David T. Huang and Special Assistant US Attorney John McReynolds as part of President Obama’s Financial Fraud Enforcement Task Force.
According to the Department of Justice, it has filed nearly 10,000 financial fraud cases against 15,000 defendants and 2,900 mortgage fraud defendants.