Woman Charged and Pleads Guilty to Mortgage Fraud

Allison Tussey —  June 17, 2011 — Leave a comment

Dorothy Rodriguez, Tampa, Florida, was charged via criminal Information for falsifying her income, employment and occupancy in purchasing a property in Navarre, Florida. 

According to her guilty plea, Rodriguez entered into a contract to purchase the residence located at 7274 Jacobs Trail, Navarre, Florida. The contract price for the residence was $630,000.00. For the purchase, Rodriguez borrowed $500,000.00 on a first mortgage and $66,500.00 on a second mortgage from GMAC to fund the 7274 Jacobs Trail purchase. In the loan applications to fund the loans, Rodriguez falsely claimed she was a portfolio manager/bank analyst for Bank of America with a monthly salary of $12,833.33. In truth and fact, Rodriguez had a monthly salary of less than $2,500.00, and she was not employed as a portfolio manager/bank analyst.

According to the loan applications, Rodriguez was going to use the Jacobs Trail property as a primary residence. In truth and fact, it was Rodriguez‘s intent to use the Jacobs Trail property as rental property. To that end, Rodriguez deducted purported losses from the rental of this property on her federal income tax return.

On or about August 6, 2006, Rodriguez received a $10,000.00 kickback from the proceeds of the closing of the purchase of the Jacobs Trail property. The $10,000.00 originated from a payment at the loan closing from the loan proceeds to General Consultants Corporation in the amount of $33,912.79. General Consultants Corporation had nothing to do with the sale of the property, and the payment to General Consultants Corporation was a mechanism to siphon funds from the closing.

Between on or about January 1,2007, and May 24,2011, in the Northern District of Florida and elsewhere, for the purpose of executing and in order to effect the scheme and artifice to obtain money, Rodriguez did cause to be sent, delivered, and moved by the United States Postal Service, or by any private and commercial interstate carrier, GMAC mortgage documents reflecting the obligation of Rodriguez to repay the loan used to purchase the 7274 Jacobs Trail residence, i.e. the mortgage documents were recorded with the Clerk of the Court for Santa Rosa County, Florida, and mailed to GMAC.

 

 

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Allison Tussey

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