Ex-mortgage broker sentenced for fraud
by Associated Press
Published: June 24,2010
Tags: courts, housing, mortage, mortgage fraud, real estate
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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June 24th, 2010 at 5:20 pm
[...] Read some-more upon Mississippi Business Journal [...]
June 25th, 2010 at 4:59 am
[...] Mississippi Business Journal » Blog Archive » Ex-mortgage broker sentenced for fraud msbusiness.com/blog/2010/06/ex-mortgage-broker-sentenced-for-fraud/ – view page – cached * Home > NEWS, REAL ESTATE – Market Sector > Ex-mortgage broker sentenced for fraud Tweets about this link Topsy.Data.Twitter.User['meinvestors'] = {“photo”:”http://a3.twimg.com/profile_images/137041237/me_normal.jpeg”,”url”:”http://twitter.com/meinvestors”,”nick”:”meinvestors”}; meinvestors: “Mississippi Business Journal » Blog Archive » Ex-mortgage broker … http://bit.ly/955wc7 ” 6 hours ago retweet Topsy.Data.Twitter.User['journey168'] = {“photo”:”http://a1.twimg.com/profile_images/340314782/158C_normal.jpg”,”url”:”http://twitter.com/journey168″,”nick”:”journey168″}; journey168Influential: “Mississippi Business Journal » Blog Archive » Ex-mortgage broker …: JACKSON — A former Rankin County mortgage br… http://bit.ly/cYvhbG ” 12 hours ago retweet Filter tweets [...]
August 11th, 2010 at 11:44 am
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.