Hawaiian Mortgage Company in Hot Seat

May 18, 2009


A 26-year-old processor and loan officer said she was asked by the company owner to help out a woman who was in danger of losing her home to foreclosure. She is now pleading guilty to mortgage fraud-related charges for doing so.

Sierra Hethcote, an employee of Accel Mortgage, LLC agreed to say on her loan application that she earned $20,000 a month in order to secure two mortgages totaling $555,364 for the purchase of a home she never intended to live in or to pay on. She reportedly received at least $12,000 for her trouble.

The other defendants in the case include loan officer Jacob Thorp, Accel co-owner Welton Kalani, loan officer Bobby Wood, branch manager Audra Palomares, New Horizons Financial owner Stephen Balino and Carlton Yim, broker in charge of real estate company Walter P. Yim & Associates.

Read story at Star Bulletin