California Real Estate Fraud Report

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06
Feb

Antelope Loan Processor Pleads Guilty to Mortgage Fraud

A loan processor who had been accused by prosecutors of submitting fraudulent loan applications in order to obtain loans from lenders has pleaded guilty to conspiracy to commit wire fraud.

Jun Michel Dirain, 41, was employed by Delta Homes and Lending Inc. Court documents had accused Dirain of not only inflating the income and assets of the borrowers, but also their employment and citizenship status. To support the claims of high income, Dirain and his co-defendants are alleged to have given the borrowers funds to deposit in their accounts, which was then returned after the loans were approved.

Losses to the lender amounted to approximately $4 million.

Dirain’s sentence will be imposed by U.S. District Judge William B. Shubb on April 28.

The remaining co-defendants have a status conference on February 10. They are  Sacramento-area real estate agents Moctezuma Tovar, Manuel Herrera, Ruben Rodriguez and Jaime Mayorga, and loan officers Sandra Hermosillo and Christian Parada Renteria of Woodland and Sacramento, respectively.

Click on California Real Estate Fraud Report to read an earlier article about this case.

Read the original article in the Sacramento Bee.

 

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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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