Massachusetts mortgage company founder jailed for defrauding Ginnie Mae out of $2.5 million

Citing the company’s operational history, infrastructure and management as strengths, Fitch Ratings assigned residential mortgage servicer ratings to. and 365 other loans totaling $35.2 million.

President of Falmouth Mortgage Company Pleads Guilty to Fraud. (Ginnie Mae) out of approximately $2.5 million.. Pena was president and founder of the now-defunct mortgage company, Mortgage.

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Massachusetts mortgage company founder jailed for defrauding Ginnie Mae out of .5 million The founder and president of a defunct Massachusetts mortgage company will spend nearly three years in prison after admitting to defrauding Ginnie Mae out of approximately $2.5 million.

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But that still wasn’t enough to make up for the lack of refinances. “After a surprisingly strong 2015, the mortgage refi market started running out of steam in the first quarter of 2016 despite lower.

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Mortgage Company President Sentenced for Defrauding Ginnie mae stephanie abbott – April 24, 2019 – Leave a comment Robert Pena , 69, the president and founder of a Falmouth mortgage company was sentenced yesterday in connection with defrauding the Government National Mortgage Association (Ginnie Mae) out of approximately $2.5 million.

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The founder and president of a defunct Massachusetts mortgage company pleaded guilty this week to defrauding Ginnie Mae out of approximately $2.5 million.. According to the U.S. Attorney’s Office for the District of Massachusetts, Robert Pena pleaded guilty on Wednesday to one count of conspiracy and six counts of wire fraud.

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After four months of leaving the benchmark interest rate for standard mortgage modifications at an 18-month high, Fannie Mae and Freddie Mac recently announced that they are cutting the benchmark rate.

The president and founder of a Falmouth mortgage company was sentenced yesterday in federal court in Boston in connection with defrauding the Government National Mortgage Association (Ginnie Mae) out of approximately $2.5 million.