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Loan Modification

: Loan Modification & Home Loan News

68 Year Old Atlanta Bank Executive Faces 30 Years in Prison

By Moe Bedard

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But the profits were largely a mirage, federal prosecutors discovered. The loans Omni doled out quickly ran into trouble as borrowers — many of whom had little money and poor credit — defaulted, pushing the homes into foreclosure. Levine, 68, Omni?s executive vice president, pleaded guilty Thursday to bank fraud for altering the books to obscure the [...]

Full post as published by Loan Modification & Home Loan News on January 15, 2010 (boomark / email).

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