California Real Estate Fraud Report

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21
Jul

Delta Homes and Lending Realtors Charged with Mortgage Fraud

In a new twist on mortgage fraud, the owner and six employees of Sacramento-based Delta Homes and Lending, Inc. have been charged with paying their clients money in order to make their loan applications more attractive to the lenders the group was defrauding.

Moctezuma Tovar, 42, is the owner and operator of Delta Homes and Lending, Inc. His alleged co-conspirators are Manuel Herrera, 31, Ruben Rodriguez, 34, Jaime Mayorga, 32 worked as real estate agents. Sandra Hermosillo, 49, was a loan officer and Jun Michael Dirian, 38 and Christian Parada Renteria, 35 were loan processors.

The defendants were charged with falsifying the loan applications of their clients (loan fraud, mortgage fraud) including providing fraudulent information about their clients’ financial status, citizenship status and employment status. They even deposited money into the clients’ bank accounts to enhance their incomes and would reclaim the money after escrow was closed.

The FBI, which investigated this case, believes the losses to lenders totaled $4 million.

Read the original article in the Sacramento Bee and the press release by the FBI.

© 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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