Long Island mortgage executives charged with warehouse line fraud

And in February 2016 the fund, long lodged at 30 Wall St., purchased the warehouse in Long Island City-the heart of the city’s for-hire-vehicle industry-for $8.1 million with the help of a $6 million.

Warehouse lending is a line of credit given to a loan originator to pay for a mortgage the borrower used to purchase property . The life of the loan generally extends from its origination to the.

Two long islanders conspired with another New Yorker to commit wire and bank fraud to obtain $9 million in mortgage loans, which they partly spent on personal expenses, prosecutors said on Tuesday..

Three men were among three financial executives at a Long Island-based mortgage lender who were arrested for an alleged scheme to fraudulently obtain nearly $9 million in loans, federal.

Ripoff Report on: Vanguard Funding – Vanguard funding closed top executives at long island mortgage lender arrested for engaging in million fraud

Investments Lending Long Island mortgage banker gets 12+ years for $100 million mortgage fraud scheme Financial institutions lost $30 million in scheme

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A complaint was unsealed today in federal court in Central Islip, New York, charging Edward E. Bohm, Edward J. Sypher, Jr., and Matthew T. Voss, senior executives at Long Island mortgage lender Vanguard Funding, LLC (Vanguard), with conspiracy to commit wire and bank fraud in connection with their obtaining more than $8.9 million of warehouse loans for Vanguard to fund mortgages.

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Two mortgage executives accused of lying to banks in order to obtain nearly $9 million in short-term loans for Long Island mortgage lender vanguard funding llc admitted in New York federal court.

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But documents obtained by Newsday show that the firm did significantly more work on the loan guarantees than was previously known. Harris Beach is not charged with any wrongdoing. Thomas Garry is.

charging Edward E. Bohm, Edward J. Sypher, Jr., and Matthew T. Voss, senior executives at Long Island mortgage lender Vanguard Funding, LLC (Vanguard), with conspiracy to commit wire and bank fraud in connection with their obtaining more than $8.9 million of warehouse loans for Vanguard to fund mortgages.