Former Loan Officer Admits Falsifying Deposit Statements

admin —  January 8, 2010 — 1 Comment

Kathy Parsley Cluck, 55, a former employee of Interstate Bank, SSB, pleaded guilty to making false entries by a bank employee. Cluck faces a maximum statutory sentence of 30 years in prison, a $1 million fine and restitution. A sentencing date was not set.

According to plea documents filed in the case, between 2006 and 2009, Cluck who was employed as a mortgage loan officer at Interstate Bank, SSB, falsified some of the deposit statements of her customers in their mortgage loan applications. By inflating their deposits, the borrower was able to get a lower mortgage interest rate, or would not have to pay as much mortgage insurance. Cluck had the highest volume of mortgage loans at the bank and was a commissioned employee.

U.S. Attorney James T. Jacks of the Northern District of Texas announced the guilty plea.

The case is being investigated by the FBI and prosecuted by Assistant U.S. Attorney Christy Drake of the Amarillo, Texas, U.S. Attorney’s Office.



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One response to Former Loan Officer Admits Falsifying Deposit Statements

  1. Why would helping the American people get over technicalities of line items, when the bank itself can loan 9times the amount they actually carry backed by the Fed who is not a government agency. To make available a loan that is more attractive for consumers to make payments than not, where did she go wrong. If they qualified, the lender should give them lower interest in this economy.

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