Star Reliable Mortgage operators sentenced

George B. Larsen, 56, formerly of San Rafael, California was sentenced to 10 years and one month in prison and ordered to pay $1,759,100 in restitution for his role in a fraudulent mortgage elimination scheme.. On December 6, 2017, Larsen was convicted following trial on one count of conspiracy and four counts of bank fraud.

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His arrest comes after he was sentenced in 2006 to more than 12 years in prison in a case the FBI considered one of its most significant successes in the national fight against mortgage fraud.

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They also falsely represented that Star Reliable clients had one million dollars in a U.S. government account that could be used to pay-off a homeowner’s mortgage. According to court documents, i nstead of owning their homes "free and clear," many of Star Reliable’s clients lost their homes in foreclosure. The scheme caused more than.

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Prison for Former Chamber of Commerce Official in Hawaii. Stephen Elmer Callo sentenced in mortgage fraud scheme. Aug. 14, 2013. By NELSON DARANCIANG The Honolulu Star-Advertiser – McClatchy-Tribune Information Services. Former Filipino Chamber of Commerce President Stephen Elmer Callo will spend 15 consecutive weekends at the Federal Detention Center in Honolulu for lying about his income on.

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Freddie Mac trims 2019 origination estimate but could rethink the move MBA Forecasts Originations Through 2019 – Like both Freddie Mac and Fannie Mae, the Mortgage Bankers Association (MBA’s) is anticipating that mortgage originations in 2018 will not match up to those this year. MBA said it expects to see a.

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Choice Act would grant QM status to portfolio mortgages