No Credit, No Problem . . . Unqualified Borrowers & Federal Mortgage Fraud
It seemed like a good idea at the time. Housing times are tough.. . . . But it got a Huntsville, AL resident charged with federal mortgage fraud.
Melneka Parker allegedly provided false income information. Supposedly she created fraudulent pay stubs – and inflated incomes – allowing unqualified borrowers to get home loans. These loans totalled more than $623,000. In short, non-qualified borrowers became qualified borrowers via fraudulent mortgage loan applications.
According to the U.S. Attorney’s Office, Ms. Parker allegedly owned and ran Elite Business Services in Huntsville, Al. She set it up to help customers improve credit scores.
Now facing 3 counts of mortgage fraud, it is reported Ms. Parker has retained a criminal defense lawyer and is cooperating with prosecutors.
In addition to Ms. Parker 2 others, Gloria Allen and Crystal Douglas, are charged by prosecutors with allegedly making false statements on federal loan documents. Both entering plea agreements, they too are defended.
Maybe “Sweet Home Alabama” is trite. But maybe these women are victims . . . of bad economics and of bad decisions.