to the U.S. Attorney's Office, the scheme involved the loan officer, loan processor and five real estate agents at Delta Homes and Lending Inc. A federal grand jury indicted the seven people for giving money to prospective home buyers to inflate their assets before they applied for a mortgage. The borrowers then gave the money back once the mortgage was approved.
Assistant U.S. Attorney Dominique Thomas says almost all of the borrowers then defaulted on the homes, but none will face charges. She says the defendants, who are Hispanic, targeted unsuspecting members of the Hispanic community.
"In the interviews, the borrowers have tended to indicate that they thought that these real estate agents were simply doing them a favor."
Each defendant faces 30 years in prison if convicted. Defendant, Ruben Rodriguez, has disappeared. There is a warrant out for his arrest.
The other defendants are: Moctezuma Tovar, Manuel Herrera, Jaime Mayorga, Jun Michael Dirain, Christian Parada Renteria, and Sandra Hermosillo.