Wednesday, February 20, 2008

Precision Mortgage Fraud Scheme Unraveled

Anthony Fields, 38—Wire Fraud Conspiracy
Alice Fields, 28—Wire Fraud Conspiracy
Lisa Fields, 33—Wire Fraud Conspiracy
Raymond Fields, 26—Wire Fraud Conspiracy
Randy Carretta, 44—Wire Fraud Conspiracy
Jason Jester, 38—Wire Fraud Conspiracy
Aaron McCarthy, 43—Wire Fraud Conspiracy
Andrea Revak, 47—Wire Fraud Conspiracy
Joyce Davern, 66—Wire Fraud Conspiracy
Kelly Fields, 35—Wire Fraud Conspiracy
Sabrina Stetter, 46—Wire Fraud Conspiracy
Wayne Fumea, 61—Conspiracy

The grand jury returned separate but related indictments charging Kelly Fields, Joyce Davern, Sabrina Stetter, Alice Fields, Anthony Fields, Lisa Fields, Andrea Revak, Aaron McMarthy, Wayne Fumea, Jason Jester, and Randy Carretta with participating in a Mortgage Fraud Conspiracy.  In addition, the United States Attorney filed a related information charging Raymond Fields with participating in the same Mortgage Fraud Conspiracy.

The indictments allege that Jason Jester and Randy Carretta operated Precision Mortgage, a Carnegie mortgage broker business that assisted borrowers in obtaining financing to purchase homes.  The Indictment alleges that Jester and Carretta submitted loan applications and associated documents knowing that the loan applications contained fraudulent representations about the financial condition of the borrowers and that the documents were fraudulent.  The fraudulent documents included, among others, verifications of employment, verifications of deposit, appraisals, pay stubs, and W-2s.

Kelly Fields and Joyce Davern worked as loan originators recruiting individuals to purchase properties in the mortgage fraud scheme.  According to the indictment, they submitted to the lenders loan applications that they knew contained misrepresentations and documents that they knew were fraudulent.  Sabrina Stetter, according to the indictment, assisted the conspiracy by preparing fraudulent document like pay stubs and W-2s.  Alice Fields participated in the conspiracy by assisting in the processing of the fraudulent loans.

Anthony Fields assisted in the conspiracy in several ways.  First, he acted as a borrower and buyer for five properties knowing that the loan applications contained misrepresentations about his financial condition and that fraudulent documents were submitted in support of the applications.  He also, according to the indictment, verified the employment of borrowers who had falsely represented that they were employed by an entity associated with Anthony Fields.  Anthony Fields also participated in the conspiracy by agreeing to be paid a portion of the loan proceeds for construction work performed or to be performed on the collateral underlying the loan, when in fact there had been no construction work performed and there was no expectation of construction work to be performed.  Another defendant, Aaron McCarthy, also participated in the conspiracy by agreeing to be paid a portion of the loan proceeds for construction work performed or to be performed on the collateral underlying the loan, when in fact there had been no construction work performed and there was no expectation of construction work to be performed.

Lisa Fields, Raymond Fields, and Wayne Fumea were conspirators in the scheme that acted as buyers and borrowers of properties knowing that the loan applications contained misrepresentations and many of the supporting documents submitted to the lending institutions were fraudulent.

Anthony Fields Indictment.  The properties listed in the Anthony Fields Indictment include:
845 Proctor Avenue;
39 Millbridge Street;
59 Climax Street;
126 Industry Street;
1607 Methyl Street, all of Pittsburg, PA.

Alice Fields Indictment.

Lisa Fields Indictment.  The properties listed in the Lisa Fields Indictment include:
3040 Zephyr Avenue;
332 Climax Street;
3636 Oakleaf Road;
129 South 7th Street;
25 Millbridge Street;
1519 St. Patrick Street, all of Pittsburg, PA.

Raymond Fields Information.  The properties listed in Raymond Fields Information include:
6 Renwick Street, Pittsburg;
818 Soles Avenue, McKeesport;
2932 Jersey Avenue, McKeesport, all of PA.

Randy Carretta Indictment.

Jason Jester Indictment.

Aaron McCarthy Indictment.

Andrea Revak Indictment.  The properties listed in the Andrea Revak Indictment include:
436 Hays Avenue;
132 Freemont Street;
141 Margaret Street;
124 Laughlin Avenue;
716 McLain Street;
1623 Leolyn Street, all of Pittsburg, PA.

Joyce Davern, Kelly Fields and Sabrina Stetter Indictment

Wayne Fumea Indictment.  The properties listed in the Wayne Fumea Indictment include:
1129 Bell Avenue, Braddock;
232 Zara Street, Pittsburg;
449 Pacific Avenue, McKeesport;
1130 Kirkpatrick Street, Braddock;
519 Allegheny Avenue, Glassport, all of PA.

mortgage fraud

1. As one who has been fighting mortgage fraud since seeing it firsthand on the inside, I applaud busts like these.  Although it’s one in a million, it shows the industry that law enforcement is serious and not politically controlled.

   Posted by  on  02/20  at  07:09 AM

2. JULIAN PHIL HEGGIE FROM CAPE COD MASS
   MADE UP AN INCOME OF 40,500 TO REFI A YOUNG MOTHER OF 2,WHO HAS RECENTLY LOST HER HOME!

   Posted by  on  02/20  at  01:53 PM

3. .....

   Posted by  on  03/10  at  12:14 PM

4. I personally lived in the neighborhood these people preyed upon the most--I have met these people--they approached me personally-I was almost a victim-I am glad they are finally getting busted--maybe we can reclaim the neighborhood they left destroyed--their fraudulent mortgages caused several foreclosures and vacant/abandoned properties as they took the $$ and ran
   FINALLY SOME JUSTICE!!!!

   Posted by  on  08/27  at  07:15 AM