Previous: « $1.7M Provided to Arizona to F... | Next: Maryland Announces Results of ... »

Wisconsin Mortgage Broker to Plead Guilty to Mortgage Fraud Scheme

Wednesday, May 30 2007 04:10

James Lytle, Lake Geneva, Wisconsin, is scheduled to plead guilty to defrauding mortgage lenders by making false representations in loan applications relating to the creditworthiness of borrowers and the appraised value of 19 properties.

The Information alleges a scheme wherein Lytle paid straw borrowers to obtain loans from eight different lenders for more than $4 million. In one scheme specifically set forth in the Information, Lytle utilized a straw borrower to fraudulently obtain a $300,000 loan from New State Mortgage, LLC at GMAC/RFC, for the property located at 900 Inlet Shore Drive, Delavan, Wisconsin.

The entire scheme encompassed the following properties:

105 Glenwood, Delavan, Wisconsin - USA Funding;

523 S. 2nd St., Delavan, Wisconsin - Argent Mortgage;

407 S. 2nd St., Delavan, Wisconsin - First State Mortgage;

300 Wildwood, Darien, Wisconsin - First State Mortgage;

950 Center St., Delavan, Wisconsin - Argent Mortgage;

1159 Highway H, Genoa City, Wisconsin - Argent Mortgage;

1617 N. Lincoln Ave., Lake Geneva, Wisconsin - Paragon Home Lending;

1577 N. Lincoln Ave., Lake Geneva, Wisconsin - USA Funding Corporation;

163 Oakwood, Williams Bay, Wisconsin - Paragon Home Lending;

7574 North County O, Whitewater, Wisconsin - New State Mortgage;

904 Inlet Shore Dr., Delavan, Wisconsin - Paragon Home Lending;

900 Inlet Shore Dr., Delavan, Wisconsin - New State Mortgage;

911 Grant St., Lake Geneva, Wisconsin - Paragon Home Lending;

607 McDowell St., Delavan, Wisconsin - Paragon Home Lending;

897 Wisteria Rd., Pell Lake, Wisconsin - Long Beach Mortgage;

62 E. Walworth, Delavan, Wisconsin - Paragon Home Lending;

1614 N. Geneva, Lake Geneva, Wisconsin - Paragon Home Lending;

900 Inlet Shore, Delavan, Wisconsin - Challenge Financial Investment Corporation; and

3645 Lortin Pl., Lake Geneva, Wisconsin - Fremont Investment.

3 comments

  • Comment Link Harlan Accola Wednesday, March 23 2011 19:00 posted by Harlan Accola

    This Sherryl Hirsch was an employee who came to us promising she could do a great job at our company and she did not. When she realized she was not going to be able to stay with our company, she became very vindictive. She received all of her money on time, but it was delayed in her mind due to the delay of the pay periods which she did not understand. We have been in business in our same location for over 15 years with several employees who have been with us for over 15 years. No one has ever missed a paycheck. We are also rated as an accredited business with an A plus rating on BBB. I have written for Wisconsin Christian News.com for over 5 years and you can read any of my archived articles there to understand our philosophies. Anyone with further questions can contact me at 715-384-7878. Harlan J. Accola RFC CSA.

  • Comment Link Margaret Szymczak Friday, July 25 2008 13:14 posted by Margaret Szymczak

    Conceling the false and fraudulent information submitted in the loan application and relation documents;and diverting the loan proceeds for lending.False loan from Denis Brunette Mortgage Acceptance Corp.Lic.#031.0003881 lon Originator.

  • Comment Link Sherryl Hirsch Thursday, June 05 2008 07:00 posted by Sherryl Hirsch

    Moneywise Mortgage, operated by Harlan Accola in Marshfield: I worked there 3 weeks, have not been paid, quit due to not getting paid-observed unethical practices regarding confidentiality of clients-refusing to do what the customer wants-believing that a "christian principle" is to never pay off your mortgage;I am filing a complaint over wages with dept. of labor-oh yes, the corporate umbrella over Moneywise is closed and disolved and I believe they are operating without license at this point

Leave a comment

Make sure you enter the (*) required information where indicated.
Basic HTML code is allowed.

  • del.icio.us: frauddiva
  • Facebook Page: 202080166468810#!
  • FeedBurner: MortgageFraudBlog
  • Linked In Group: 2104121
  • Google Reader: 562472456
  • Technorati: rdollar
  • Twitter: FraudDiva
  • YouTube: FraudDiva
Quick Links
Get our newsletter
Enter your Email


Preview | Powered by FeedBlitz
Resources
 

Rachel Dollar 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.
Read more about Ms. Dollar

Most Read Articles
Most Commented Articles