California Real Estate Fraud Report

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17
Jun

Grand jury indicts three in Bakersfield for mortgage fraud

Three people have been charged indicted by a federal grand jury for conspiracy to commit mail fraud, wire fraud, bank fraud and 15 counts of mail fraud.  

Eric Ray Hernandez, 34; his wife, Monica Marie Hernandez, 29; and Evelyn Brigget Sanchez, 27, are accused of defrauding SunTrust Mortgage Inc., Long Beach Mortgage Co., WMC Mortgage Corp. and Washington Mutual Bank (WaMu) out of $2.5 million. In addition, the Hernandez’ are accused of money laundering.

According to the indictment, Eric Hernandez worked first at Network Source Funding and then at New Millenium Lending as a loan officer, while Evelyn Sanchez worked at both lenders as loan processor. Monica Hernandez also worked as a loan processor. Neither Network Source Funding nor New Millenium are still operating.

If they are convicted, the defendants could be sentenced to up to 30 years in prison be fined $1 million.

Read the full article in the Bakersfield Californian.

© Copyright 2007-2017 Monique Bryher

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The information and notices contained on The California Real Estate Fraud Report are intended to summarize recent developments in real estate fraud, mortgage fraud, short sale fraud, REO fraud, appraisal fraud, loan modification scams, loan modification fraud and other real estate related crimes occurring in Los Angeles and California. The posts on this site are presented as general research and information and are expressly not intended, and should not be regarded, as legal advice. Much of the information on this site concerns allegations made in civil lawsuits and in criminal indictments. All persons are presumed innocent until convicted of a crime. Readers who have particular questions about real estate fraud, mortgage fraud and appraisal fraud matters or who believe they require legal counsel should seek the advice of an attorney.

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