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Net Branch Manager Used Straw Buyer
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March 10, 2009
A 42-year-old woman could face as much as 360 years in prison and over $5 million in fines for lying about her income on a mortgage loan application, creating fake documents, using a straw buyer for a fraudulent purchase and other mortgage fraud related charges.
MortgageDaily.com obtained information surrounding the indictment of Stacy Lynn Chamberlain. She faces one count of bank fraud, 18 counts of wire fraud and one count of interstate transfer of money taken by fraud.
Chamberlain is the Virginia branch manager of a Pennsylvania-based Gateway Funding Diversified Mortgage Services. Chamberlain allegedly falsified her income on a loan application with Fremont Savings and Loan.
Find out more at MortgageDaily.com
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