Posted: Wednesday, November 10, 2010
A loan officer of a defunct Cleveland area mortgage company and five investors were charged with mortgage fraud related crimes (Wednesday) today in federal court.
Among the charges, the feds say, the group allegedly faked documents showing proof of income on loan documents for lenders. The loan officer charged Wednesday, Jeffrey Brown of Buckeye Lending, is already serving three years in prison for mortgage fraud on three houses. Brown was indicted with a coworker, mortgage broker Stephan Holman, in a case in state court in 2007. This new federal case involves 26 houses from Cleveland to Solon and $7.5 million in loans, many from now defunct subprime lenders.
Economy, Facing the Mortgage Crisis, Other, Courts/Crime - Fire/Law Enforcement
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