Wednesday, November 19, 2008
Loan Officer Sentenced to 41 Months in Prison for Mortgage Fraud
Brian Tray, 52, Pittsburgh, Pennsylvania, has been sentenced in federal court in Pittsburgh, Pennsylvania to 41 months of incarceration and five years of supervised release on his conviction of Conspiracy, Bank Fraud and Wire Fraud, all in connection with a mortgage fraud scheme.
According to information presented to the court, Tray worked as a loan officer for, among other places, America’s Mortgage Outlet and Single Source Mortgage. In connection with numerous loans, Tray submitted loan applications on behalf of borrowers that he knew contained false information related to the borrowers’ income and financial condition. In addition, Tray submitted fraudulent documents to the lending institutions, including fraudulent Verifications of Employment, Verifications of Rent, and appraisals.
United States Attorney Mary Beth Buchanan commended the Mortgage Fraud Task Force for the investigation leading to the successful prosecution of Tray. The Mortgage Fraud Task Force is comprised of investigators from federal, state and local law enforcement agencies and others involved in the mortgage industry. Federal law enforcement agencies participating in the Mortgage Task Force include the Federal Bureau of Investigation; the Internal Revenue Service, Criminal Investigations; the United States Department of Housing and Urban Development, Office of Inspector General; the United States Postal Inspection Service; and the United States Secret Service. Other Mortgage Fraud Task Force members include the Allegheny County Sheriff’s Office; the Pennsylvania Attorney General’s Office, Bureau of Consumer Protection; the Pennsylvania Department of Banking; the Pennsylvania Department of State, Bureau of Enforcement and Investigation; and the United States Trustee’s Office.
Mortgage industry members with knowledge of fraudulent activity are encouraged to call the Mortgage Fraud Task Force at (412) 894-7550. Consumers are encouraged to report suspected mortgage fraud by calling the Pennsylvania Attorney General’s Consumer Protection Hotline at (800) 441-2555.
mortgage fraud
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Previous Articles
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Trial coverage provided by Anne Mitchell, Crazy Fish Realty.
U.S. v. Miller, et al.
Thursday, December, 18, 2008
Verdict:
F. Jeffrey Miller Guilty of Conspiracy and Money Laundering
Steven Vanatta Guilty of Conspiracy , Money Laundering and Bank Fraud
Hallie Irvin Guilty of Conspiracy , Money Laundering and Bank Fraud
Sandra Jo Harris Not guilty- all counts
More Trial Coverage
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Rachel Dollar is an attorney and Certified Mortgage Banker who handles fraud recovery litigation for lenders and secondary market investors nationwide. She is a nationally recognized speaker on the topic of mortgage fraud. Ms. Dollar is licensed to practice law in California and maintains offices in Santa Rosa, California. 
