LOAN PROCESSOR CONVICTED OF MORTGAGE FRAUD

(HOUSTON, Texas) – Babette Jammer, 47, of Houston, has pleaded guilty to mail and wire fraud conspiracy charges, acting United States Attorney Tim Johnson announced today.

At a hearing this morning before United States District Judge Nancy F. Atlas, Jammer admitted to conspiring with others to defraud residential mortgage lenders by misstating facts relevant to the lending decisions. Jammer assisted loan officers at two Houston area mortgage broker firms, Motown Mortgage Group and Central Capital Financial Group, in preparing fraudulent documents used to induce mortgage lenders to provide 100% financing for homes the borrower’s falsely claimed were to be their primary residences. Jammer created false Internal Revenue Service documents, including W-2 forms and tax returns among other false documents, which were provided to the lenders. 

A conviction for conspiracy to commit wire and mail fraud carries a possible maximum penalty of up to 20 years imprisonment and up to $250,000 fine. Judge Atlas has set sentencing for Sept. 19, 2009. Jammer has been permitted to remain free on bond pending sentencing.

The criminal charges are the result of a joint investigation being conducted by agents of the FBI and the Internal Revenue Service. The case was prosecuted by Assistant United States Attorney Melissa Annis.
                                   

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