MacDonald P. Taylor, Pennsylvania, was sentenced to 1 year and a day in prison and to pay $75,000 restitution after pleading guilty to five counts of an original 10 count indictment charging him with bank fraud, misuse of a Social Security number, Social Security fraud, wire fraud and bankruptcy fraud.
According to the indictment, Taylor forged employment documentation, W-2's and tax statements as well as verifications of rent and deposit, in order to obtain a mortgage loan for 440 Pigeon View Lane, New Castle, Delaware, through Washington Mutual bank. Taylor also allegedly used a Social Security number that was not his own.
The indictment also shows that Taylor forestalled foreclosure by filing more falsified papers in bankruptcy court.
He then obtained a mortgage on a home in Middleton, Delaware through Fieldstone Mortgage, again using fraudulent papers.
Taylor also used falsified documentation to purchase a Chevrolet Trailblazer.
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.