An attorney, mortgage broker, loan processor and loan originator have been indicted in a fraud scheme involving at least 35 mortgage loans worth more than $16.2 million. Buyers were fraudulently qualified for loans, while the defendants allegedly profited from fees they were paid and undisclosed payments they obtained. The three-year scheme involved using various lenders that financed property purchases throughout Chicago and the nearby suburb Country Club Hills, according to the indictment. The indictment also seeks forfeiture of $16 million.”]
Source: https://www.bankinfosecurity.com/4-indicted-in-16mm-mortgage-scheme-a-4831