Tuesday, December 10, 2013

Got ya!

Here's a story dear to my heart. Mortgage fraud hasn't stopped. Too bad we're only chasing down the little idiots and not the Wall Street idiots.

Seems to me since the big idiots all have the same address ... we could get them all at once.

A federal agent pleaded guilty Friday in connection to a mortgage fraud scheme.

Jeffrey Morriss, 48, a Kansas City, Mo., Immigration and Customs Enforcement agent, admitted to lying to an FBI agent about the scheme, according to a report in the Kansas City Star.

Prosecutors say that Morriss lied about his child support payments, debt and monthly income on loan applications. According to the St. Louis Post-Dispatch, Morriss submitted four fraudulent applications for loans on three houses between 2007 and 2012. Morriss obtained loans for $812,000, but didn’t make full payments on the loans, the Post-Dispatch reported. The homes were foreclosed upon.

When Morriss was questioned by an FBI agent about a 2011 application, he blamed a bank employee, claiming the employee mistyped the information, according to the Star.

If Morriss’ plea agreement is accepted, he would be sentenced to three years’ probation and made to pay $12,794 in restitution.

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