Frank and Maureen Blake are both charged in a pair of Indictments with conspiracy to commit wire fraud. The couple were arraigned in U.S. District Court and released on bail. They are scheduled to go on trial March 17, 2009.
According to the Indictment for Frank Blake and the Indictment for Maureen Blake, they provided false material information to Countrywide Home Loans, d/b/a America’s Wholesale Lender, Richardson, Texas, Bear Stearns Residential Mortgage Corporation, First Horizon Home Loan Corporation, a division of First Tennessee Bank and New York Mortgage Corporation, a division of IndyMac Bank concerning the actual sale price of property, their monthly income and/or their intention to reside at the properties.
Frank Blake is charged with regards to 2 Foundry Street, Nashua, New Hampshire, 22 Mason Street, Hampton, New Hampshire and 11 Shawnee Drive, Nashua, New Hampshire.
Maureen Blake is charged with regards to 58 Gould Pond Road, Henniker, New Hampshire and both Frank and Maureen were charged with regards to 10 Lake Avenue, Derry, New Hampshire.
Two local lenders are alleged to have been involved with the scheme. As previously reported by Mortgage Fraud Blog, Thomas Ryder, 30, Hopkinton and his brother, Paul Ryder, 27, Hudson, have been charged with four counts of wire fraud and a single count of mail fraud. Both men plead not guilty in their cases. They worked for M&M Mortgage Co. on Ermer Road in Salem.
Thomas and Paul Ryder, and others, submitted loan applications that included false statements, including but not limited to, statements as to the actual purchase price, the income, assets and employment of the purported purchasers, and the intent of the purported purchasers to reside at the residences. The indictment further alleges that the defendants and others then skimmed the difference between the real sales price of the property and the sales price submitted to the lender, for which the lender provided funds, and then divided the proceeds. The brothers were mortgage brokers who operated under the name of M&M Mortgage Consulting located in Salem, NH.