Recent changes by Ottawa will make it harder for non-bank lenders to operate, say mortgage brokers
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Justin Michael Ray, Cedar Rapids, Iowa, a mortgage broker who schemed with his father to defraud a mortgage lender was sentenced October 12, 2011, to more than three years in federal prison.
Arthur Seaborne, Sarasota, Florida, a mortgage broker, was indicted on 11 counts of bank fraud in connection with a mortgage scam operated between March 2003 and July 2008.
Donald M. Ramsey, 45, Alexandria, Virginia, a mortgage broker, pled guilty to a charge of conspiracy to commit bank and mail fraud for his part in a scheme that cost lenders more than $700,000.
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