Kathy Parsley Cluck, 55, a former employee of Interstate Bank, SSB, pleaded guilty to making false entries by a bank employee. Cluck faces a maximum statutory sentence of 30 years in prison, a $1 million fine and restitution. A sentencing date was not set.
According to plea documents filed in the case, between 2006 and 2009, Cluck who was employed as a mortgage loan officer at Interstate Bank, SSB, falsified some of the deposit statements of her customers in their mortgage loan applications. By inflating their deposits, the borrower was able to get a lower mortgage interest rate, or would not have to pay as much mortgage insurance. Cluck had the highest volume of mortgage loans at the bank and was a commissioned employee.
U.S. Attorney James T. Jacks of the Northern District of Texas announced the guilty plea.
The case is being investigated by the FBI and prosecuted by Assistant U.S. Attorney Christy Drake of the Amarillo, Texas, U.S. Attorney's Office.
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.