The FBI has alleged that Hollman Escrow failed to distribute more than $1.4 million in loans in at least 20 refinancings, mostly in West Michigan, from May through July, 2004. Cheryl L. Roberts, the owner of Hollman Escrow, has not been charged with a crime. The allegations of the investigation are taken from an affidavit filed to support a search of Cheryl Roberts' safe-deposit box. Apparently homeowners who refinanced are receiving notices from their prior mortgage lenders seeking payments on mortgages that were required to be paid off with proceeds of the refinance.
Cheryl Roberts and Hollman Escrow recently filed for bankruptcy protection in Grand Rapids, Michigan.
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.