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Ex-mortgage broker sentenced for fraud

JACKSON — A former Rankin County mortgage broker has been sentenced to federal prison for 78 months for mortgage fraud and bank fraud.

The Clarion-Ledger reports U.S. District Judge David Bramlette yesterday sentenced 39-year-old Warren Clifton Pierce to five years regarding mortgage fraud and 18 months for bank fraud.

Bramlette said he was dismayed Pierce continued with criminal activity even after pleading guilty last year to mortgage fraud. The bank fraud charge was filed after Pierce pleaded guilty to the mortgage fraud.

Prosecutors say Pierce worked in Hinds and Rankin counties for Raintree County Marketing Company before he incorporated a business called Integrity Mortgage in 2001.

Federal court records say Pierce received thousands of dollars in fees from the loans working under Integrity Mortgage between 2003 and 2007.

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3 comments

  1. It’s unfortunate that the mortgage broker profession avails itself to this type of fraud. It’s difficult to know what sorts of regulations would effectively limit this type of event.

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