Escrow Officer Sentenced for Mortgage Fraud

Allison Tussey —  January 9, 2015 — 1 Comment

Yvonne Gumaer, 68, Galveston, Texas, has been sentenced to federal prison for federal violations related to a mortgage fraud scheme wherein she and her conspirators made false statements in connection with an FHA insured home loan.

The defendant pleaded guilty on Jan. 22, 2013 to making a false statement in connection with an FHA insured home loan and was sentenced to 33 months in federal prison today by U.S. District Judge Richard Schell.  Gumaer was also ordered to pay restitution in the amount of $791,782.89.

According to information presented in court, Gumaer was an escrow officer at Regency Title Company (RTC) in Collin County.  In 2008, Gumaer conspired with Larry Reisman, Kathy Moore, and others to knowingly and willfully make a materially false statement, for the purpose of influencing the FHA to insure a mortgage loan made to another person to purchase property known as the Thistle Way III Property from Reisman.

Specifically, Reisman, the seller of the property, had not and would not pay or reimburse the borrower for any part of the borrower’s closing costs which had not been disclosed in the sales contract, a violation of 18 U.S.C. § 1014.  This scheme resulted in losses to mortgage lenders, including The Federal National Mortgage Association (Fannie Mae) and The Federal Home Loan Mortgage Corporation (Freddie Mac).  Gumaer was indicted by a federal grand jury on Mar. 15, 2012.

Others who have been sentenced in connection with the mortgage fraud schemes include

Kathy Moore, 50, Broken Arrow, Oklahoma, who was sentenced to 24 months in federal prison and ordered to pay restitution in the amount of $774,377.63; and Larry Reisman, 52, Dallas, who was sentenced to 42 months in federal prison and ordered to pay restitution in the amount of $1.5 million.

U.S. Attorney John M. Bales announced the sentence.

This case was investigated by HUD-Office of Inspector General, IRS Criminal Investigation, Federal Bureau of Investigation, Federal Housing Finance Agency-Office of Inspector General, U.S. Secret Service, and U.S. Postal Inspection Service.  The case was prosecuted by Assistant U.S. Attorneys Andy Williams and Chris Eason.

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Allison Tussey

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