College Instructor Admits Falsifying Loan Documents

Allison Tussey —  December 27, 2010 — 2 Comments

Wendy Barker, Dallas, Texas, a Community College professor, pled guilty to conspiracy to make false statements to a Federal agency. Barker was sentenced to the Bureau of Prisons for a term of 18 months, supervised release for 2 years, restitution in the amount of $478,161.34, and a special assessment of $100.

According to the plea agreement, from July 2003, through September 2007, Barkerand others electronically altered or created fraudulent income, employment and other documents used by unqualified borrowers to obtain FHA-insured mortgages. Losses to HUD as a result of the scam was $530,000 after 11 mortgages defaulted.

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Allison Tussey

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2 responses to College Instructor Admits Falsifying Loan Documents

  1. Um, Whooper, your statement is too nonsensical to even understand. Poor teacher?? She created false documements for almost 4 years. What part of bank fraud do you not understand?

  2. This is just awful. This poor woman has been “trapped” into creating false docs to help support fraudulant home loans that were created by greedy Wall Street backed banks! Sure she did wrong, but there is no way that she can be guilty and the lenders just smile and walk away! Shame on our federal justice system, They can’t be that native in believing that one can “trick” these lenders into releasing millions of dollars. Didn’t happen, couldn’t happen. Never in a million years would smart banking excutives approved such terrible loans. The question is, what happened? Wall Street greedy demand for more and more mortgages, turned their heads and brought any and everything offered! The products that they designed were crinimal! This poor teacher DOES NOT BELONG IN PRISON….EVER FOR HER PART IN THIS SHAM! She couldn’t done anything illegal, because the loan products were crinimal from inception.

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