A loan officer has been ordered to prison for her role in a scheme to defraud mortgage companies into agreeing to short sales. Her accomplices include attorneys.
Vanessa Ricci is a Boston-area mortgage loan originator. She is accused of submitting fraudulent to deceive home lenders into approving short sales.
Ricci and her co-conspirators, two real estate closing attorneys and a real estate broker, allegedly operated the scheme from August 2007 through June 2010.
Source: Mortgage Daily
