Kathy Frye, 38, Eight Mile, Alabama, Joycelyn Easter, 48, Mobile, Alabama; Antonio Harrison, 27 Mobile, Alabama and Darlene Hill, 49, Mobile, Alabama were each arrested by federal authorities in connection with an alleged mortgage fraud scheme and charged with four counts of wire fraud and four counts of loan fraud, according to media reports.
The indictment alleges that the defendants submitted a false information to Region's Bank to obain almost $1M in loans in the names of straw borrowers, according to media reports. The government is reportedly seeking forfeiture of a nubmer of properties and bank accounts.
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.