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Loan Modification

: Flipping Frenzy

Former U.S. Mortgage President Sentenced to 14 Years in Prison for Orchestrating $136 Million Fraud Scheme

By Ralph Roberts

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NEWARK, NJ?A Montclair, N.J., man was sentenced today to 168 months in prison for his role in orchestrating the $136 million fraud scheme that bankrupted Pine Brook, New Jersey-based U.S. Mortgage Corp. and its subsidiary, CU National Mortgage, LLC, United States Attorney Paul J. Fishman announced. Michael J. McGrath, Jr., 47, the former president and [...]

Full post as published by Flipping Frenzy on March 08, 2011 (boomark / email).

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