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Ronald McCord Pleads Guilty to Mortgage Fraud

The president of the Mortgage Bankers Association in the late 1990s, who was also the owner of Oklahoma City-based bank and lender First Mortgage Company, pled guilty to five charges of bank fraud, money laundering, and misrepresentations to a banking institution. Over the course of three years, a federal grand jury in Oklahoma’s Western District suspected Ronald Mccord of cheating mortgage companies Spirit Bank and Citizens State Bank, Fannie Mae, and others. McCord admitted guilt on May 11 to “out of trust” peddling upwards of $14.1 million in Spirit and ... Read more

The post Ronald Mccord Pleads Guilty to Mortgage Fraud first appeared on Integrated Loans.



This post first appeared on The Mortgage Fraud Reporter: Real Estate & Mortga, please read the originial post: here

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Ronald McCord Pleads Guilty to Mortgage Fraud

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