Judy Brumble, loan officer and ostensible real estate agent, was charged in a superceding indictment for her role in a 25 million dollar mortgage fraud scheme. Brumble is now the 9th defendant in the pending action.
Those already indicted on May 17, 2006, include:
F. Jeffrey Miller, Real Estate Developer in Lee's Summit, Missouri;
Steve Middleton, real estate agent;
Todd Earnshaw, loan officer/real estate agent;
Brian Rouse, loan officer:
Angela Parenza, co-conspirator;
Elizabeth Hessel, co-conspirator;
James Moser, real estate investor and straw borrower; and
Lanny Ross, Appraiser.
According to the Superceding Indictment, Miller targeted homebuyers with credit problems and little to no downpayments. The homebuyers would apply for loans via Miller's financing company Associated Capital and Associated Finance. The loan applications were submitted to federally insured financial institutions across the nation using inflated appraisals. The object of the conspiracy and scheme to defraud was to enrich the conspirators by manipulating homebuyers, manipulating appraisals and submitting materially false and fraudulent loan applications to obtain loan proceeds from federally insured institutions.
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.