Wednesday, January 16, 2008

Unlicensed Loan Officer Pleads Guilty to Fraud

Sennett H. Swift, 25, Sacramento, California, pleaded guilty today to bank fraud and money laundering.  The guilty plea was entered before United States District Judge Lawrence K. Karlton. 

According to court information, Swift defrauded two homeowners and the corresponding lenders by fraudulently refinancing the two homes, the goal of which was to receive the substantial loan broker commissions.  To accomplish this fraud, the defendant solicited the two homeowners and falsely told them that they would receive loans with favorable terms, such as a low adjustable rate that would not increase above a certain rate cap.  He also falsely led the homeowners to believe that their prepayment penalties on their existing mortgages would be rebated by the defendant.  Actually, Swift knew that the rate caps were higher than promised, and there would be no rebates. Additionally, in one of the cases, Swift submitted a forged loan application with forged documents to the lender without the knowledge or consent of the homeowner.  In addition, the loan application contained false statements regarding the eligibility of the homeowner for the loan, such as wages inflated above her true wages.

The defendant is scheduled to be sentenced by the Honorable Lawrence K. Karlton on March 25, 2008, at 9:30 a.m.  The maximum penalty for bank fraud is 30 years in prison and a fine of up to $1 million; for money laundering it is 10 years in prison and a fine of up to $250,000 or twice the value of the money laundered, whichever is greater.  However, the actual sentence will be determined at the discretion of the court after consideration of the Federal Sentencing Guidelines, which take into account a number of variables, and any applicable statutory sentencing factors. 

mortgage fraud

1. Ra vs Set, Concentration on Middle initials, Real Estate Fraud, Jonathan Taylor Made Jennings
   Current mood: betrayed
   Category: Tired and Cranky Goals, Plans, Hopes

   In scientific terms we have first things first, to quench a gatorade of a drought given thirst.  Illustrated in this below Fig.6, under comes 6.66 version 777.12.911

   Fig. 6. (a) Ba/Th vs Eu/Eu* compared with a calculated fractionation vector (dotted line), which shows that the decrease in Ba/Th in the Aniakchak samples cannot be accounted for by crystal fractionation alone. The partition coefficient for Ba into plagioclase at the temperature of the Aniakchak 1931 dacite magma (855°C; Bacon et al., 1997) was calculated using the model of Blundy & Wood (1994). The best-fit line (dashed) requires DBa = 3, which is impossible for a gabbroic fractionating assemblage with currently accepted KD values. (b) (226Ra/230Th) vs Eu/Eu* with an equivalent model fractionation vector, which, again, cannot simulate the Aniakchak data, implying that both mixing and the time taken for fractional crystallization are important factors in controlling the decreases in (226Ra/230Th) observed in the data. The Aniakchak data lie close to a mixing hyperbola calculated assuming two-component mixing between andesitic and dacitic end-members (continuous line). The Akutan lavas span a similar range in (226Ra/230Th) to those from Aniakchak, suggesting that a comparable storage time was spent in high-level magma chambers if initial (226Ra/230Th) ratios were similar. Modelling assumes an assemblage composed of 30% clinopyroxene (with DRa = 1·7 x 10-6, DTh = 0·013, DBa = 4 x 10-5, DEu = 0·7, DSm = 0·75 and DGd = 0·58) and 70% plagioclase (with DRa = 0·09, DTh = 1 x 10-9, DBa = 0·7, DEu = 3·8, DSm = 0·11 and DGd = 0·05). The parental composition was that of sample 97ANB 27 in both diagrams (open circle with black dot).

   How do we swing open the gate, turning our land of hell into an elevated heavenly date?

   This rhetorical thought, is an algorythim my greatest daddy once taught, spread thy word of peace and do your best to live an earthly life without hate.

   Knock on his upper corridor when your forced to bring down the family once sent higher,
   Reveal that under your mask is a face witnessed by your dawning bell which allows your pen to swing a bat as our centurion (SENT_YOU_RYAN) squire.

   As each up-and-down trip, increases my focus on the grasped remote control grip,
   I testify this universal vision enters my night as a trickle down choice of which holy grail shall my cry choose to sip.

   ......................................................................

   As the signs are viewed,
   our evidence must bring to order which was once unglued.

   My soul shall rise again,
   to seek and destroy the earth-town send.

   The lakewood lees summit submittal,
   isn’t a pivotal point portal.

   Those in the know, have realized this action wasn’t of my seed sent to grow.

   Decapitate the spelling of number 10 times 2,
   font that stole the identity of little boy blue,

   The switch from this federal snitch,
   mr. dynamite Jonathan Jennings your maybrook action just ain’t fuck-en right, oops did my nose just twitch.

   As we return to order the chaos of the George Bush trickle down frown that will now fall to the ground.

   Remember the crumbles will fall where there choice did choose, even if all the money shall be returned to the straight forward lose.

   I hear Leavenworth Calling your name,
   Mr. Taylor Made, your seed is also been taught your greedy actions of shame.

   At the Ameristar Buffet I viewed your lack of parental teaching needs a vast amount of impeaching.

   But this isn’t a sermon that needs my preaching,
   it was your choice not to listen to what the RA-elle-S-Ton-E was bleaching. 

   His plan was white, and your black deeds are held in heavenly spite. 

   Your middle initial conversions to hide the search,
   can never be hidden from the eagle sees from his heavenly perch.

   The the ding-dong witch your dead,
   in which i heard this bell instead,
   of you, still this stretch doesn’t need to be called the adams family lerch.

   It was the lot behind 1410 in which committed an act of murder.  did I stutter or did the knife just go straight through your lack of having heart, into your wife in which 10,000 fists of cock-shall-penetrate, when the house of dropping plates, removes your ass with a revolution in which the shifting time has the clearance from the almighty authority to enact on this up-and-coming 2008 dates. 

   Did you hear that, it was the sound of the bars closing.

   8:35 PM - 0 Comments - 0 Kudos - Add Comment - Edit - Remove

   Posted by  on  01/16  at  07:45 PM

2. Once agian I am amazed that there are such individuals that try these tactics and defraud the customers. I hope that with Swift and all the others that are now starting to get caught can pass on the message that we are here to make sure that the borrower is in the right position. It always comes to the mighty dollar and how much we can make on each borrower and what we cna do to make more. if we just work hard and are honest with the borrowers they will in return refer your services out and you have just made more money then what you would if you defraud someone!!! I hope that we learn from Swift

   Posted by  on  01/17  at  02:25 PM