Felicia Muhammad, 45, has been convicted on five felony counts for lying to banks that funded mortgages for three properties, according to the U.S. Attorney’s Office. Muhammad, a licensed real estate salesperson living in Long Beach, was convicted of making false statements to federally-insured financial institutions: U.S. Bank, Countrywide Bank and First Horizon Home Loans — a subsidiary of First Tennessee Bank, causing losses of $662,000 when the properties were foreclosed.
“This defendant lied to three different financial institutions, causing significant losses to all of them,” said U.S. Attorney Eileen M. Decker, in a statement. “The Department of Justice will continue to hold accountable those who would commit mortgage fraud and place U.S. financial institutions at risk.”
Read the original article in the Long Beach Press Telegram.