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Virginia Loan Officer Sentenced for Multi-Million-Dollars Mortgage Fraud Conspiracy

loansafe.org | October 13, 2014

Posted by Agricola Bedard

According to the FBI, Lorene Chittenden, a loan officer from Centerville, Virginia was sentenced last Friday to carry out 42 months in prison followed by a three year sentence of supervised release for conspiracy to commit bank fraud, along with various other charges that connected her to a mortgage fraud conspiracy. Restitution will be determined at a later hearing, although over $1 million was already seized from Chittenden’s bank accounts when she was initially charged.

It took six days of trial in early May, 2014 for the court to prove that Chittenden was one of the co-conspirators who caused the loss of over $15 million at various lenders. As a loan officer at the federally-insured George Mason Mortgage, Chittenden originated and helped to inflate the income and assets of non-English-speaking clients to obtain mortgage loans in amounts that her clients would otherwise be unable to qualify for. According to court documents, the unqualified borrowers did not have the sufficient ability to read the loan applications and closing documents that Chittenden requested they sign, and were often not even told the amounts that they were applying for.

Ringleader Rosita Vilchez, of Vilchez & Associates, pocketed millions of dollars in real estate commissions while Chittenden earned hundreds of thousands in commissions from the fraudulent loans.

Thanks to the investigative efforts of the Washington D.C. FBI Office, and the FDIC Office of Inspector General, Vilchez and her Realtor brother Armando Pino have been arrested while hiding in Peru. The siblings are fighting extradition to the United States to face charges.

Source: Justice Department


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CFLA was founded by the Nation's Leading Foreclosure Defense Attorneys back in 2007 to serve the Foreclosure Defense Industry and fight pervasive Bank Fraud. Since opening our virtual doors, CFLA has rapidly expanded to become the premier online legal destination for small businesses and consumers. But as the company continues to grow, we're careful to hold true to our original vision. For us, putting the law within reach of millions of people is more than just a novel idea—it's the founding principle, just ask Andrew P. Lehman, J.D.. With convenient locations in Houston and Los Angeles, you can contact Our National Account Specialist and General Manager / Member Damion W. Emholtz at 888-758-2352 for a free Mortgage Fraud Analysis or to obtain samples of work product, including cutting edge Bloomberg Securitization Audits, Litigation Support, Quiet Title Packages, and for more information about our Nationally Accredited and U.S. Department of Education Approved "Mortgage Securitization Analyst Training Certification" Classes (3 days) 24 hours for approved CLE & MCLE Credit (Now Available Online).

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