California Real Estate Fraud Report

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26
Nov

Sherman Oaks Woman Indicted for Mortgage Fraud

A federal grand jury has indicted Monica Elizabeth Frommer, 33, on charges of 12 counts of bank fraud, loan fraud, wire fraud, and making unlawful monetary transactions. According to the indictment, Frommer submitted stated income loan applications to National City Bank and Washington Mutual Bank from 2004 through 2007, indicating that she and her husband earned almost $50,000 per month. She also is alleged to have submitted falsified bank records to confirm their assets, and as a result, was funded almost $2 million in mortgage loans.

If convicted of all the charges, Frommer could face up to 290 years in federal prison.

Read the full article in the National Mortgage Professional.

© 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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