Archives For Builder

Incentive Kickbacks = Home Builder Indictment

Rachel Dollar —  March 21, 2016 — Leave a comment

UPDATE:  Mr. Penrod was acquitted of all charges by a federal jury in March 2017.  http://www.mortgagefraudblog.com/31172-2/

 

Gary Bryan Penrod, 52, home builder, Greenwood, Missouri,  was charged in a 22-count indictment returned by a federal grand jury in Kansas City, Missouri,  in connection with a multi-million dollar mortgage fraud scheme.

The federal indictment alleges that Penrod, doing business as Penrod Homes, Inc., engaged in a scheme to defraud mortgage lenders from May 2005 to June 2007. Penrod and others allegedly recruited buyers to apply for mortgage loans to purchase dozens of homes in Greenwood, Missouri and Peculiar, Missouri. Continue Reading…

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Fake Remodeling Expenses Net Loan Office 14 Months

Rachel Dollar —  July 20, 2015 — Leave a comment

Joseph Brogan, St. Louis, Missouri, was sentenced to 14 months in prison and ordered to pay more than $350,000 in restitution after pleading guilty to multiple fraud charges related to a scheme involving applications for home loans.

According to court documents, Brogan was employed as a loan officer for USA Mortgage, Inc. where he handled both conventional mortgages and FHA loans.  Michael Wallis owned and operated a company known as Missouri Builders and Home Remodeling (Missouri Builders), which performed interior construction and remodeling work on houses.  Continue Reading…

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