John T. Hansen, real estate appraiser, was sentenced to 18 months in federal prison followed by three years of supervised release and ordered to pay restitution of $287,796. Hansen pleaded guilty to conspiracy to commit wire fraud last year in connection with the Century Mortgage fraud in Washington. According to authorities, Hansen inflated appraisals on homes purchased by vulnerable homebuyers.
In 2003, Hansen, along with Dale D. "Sage" Gibbons, Sally Gibson, Ronald Lee Burger and Cathy M. Patrick, were charged with wire fraud and conspiracy by a federal grand jury, arising from the mortgage scheme which operated from 1997 to 2000. The other defendants were previously sentenced.
Rachel Dollar, the editor of Mortgage Fraud Blog is an attorney and Certified Mortgage Banker who handles litigation for lending institutions and secondary market investors.