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Bankrupt Mortgage Firm Sues Defunct Brokerage
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January 28, 2009
A California mortgage company that filed a Chapter 11 bankruptcy is suing some of the culprits that caused over $4 million in losses due to mortgage fraud.
Fremont Investment and Loan filed a lawsuit against Bakersfield, Calif.-based brokerage Tower Lending, its principals, certain employees, and other individuals involved in the alleged mortgage fraud activity.
Tower’s license was revoked last November by the California Department of Real Estate.
The alleged mortgage fraud included two loans totaling almost $1million taken out by the owner of Tower, David Crisp and his wife, Jennifer Crisp.
Others named in the lawsuit include: Robinson Nguyen, Jayson Costa, David Whisler, Justin Eddleman, Lynnmai Nguyen, John Balfanz Homes Inc., a California corporation; Tower Lending, a California corporation; Crisp, Cole & Associates dba Crisp Cole realty, a California corporation; Carl Cole, Christopher Stovall, Jerald Teixeira, Kirksey J. Newton Jr., San Joaquin Appraisals Inc., a California Corporation; James Rudic, Gary Killian, Timothy Hubbell, Comprehensive Business Solutions, a California corporation; Hilda Gonzalez, Kevin Sluga, California Business Solutions, a California corporation; and Hayser Lopez.
Read story at MortgageDaily.com
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