Originally Syndicated on June 15, 2024 @ 8:08 am
Matt Songer Kirtland is accused of deceiving lenders out of about $2.2 million through mortgage fraud. Thus, in addition to Matt Songer Kirtland, Steven M. Dettelbach, the United States Attorney for the Northern District of Ohio, said that five other individuals are also implicated in this mortgage case: Kirtland resident Kevin D. Barcomb, Dawn M. Hedges, Ronald L. Kighhtlinger, Jr., and Peter R. Lamb. One count of conspiracy to commit bank fraud and wire fraud in a mortgage fraud scheme was brought against all five men.
According to the allegations brought against them, Matt Songer Kirtland, with the assistance of Barcomb and Hedges, sold around 67 properties in the Mansfield and Crestline region to Kightlinger and Lamb for an inflated price between May 2006 and June 2007.
With his company S.S., Matt Songer Kirtland operates a real estate.
With the assistance of Barcomb and Hedges, Songer allegedly sold 67 houses in the Mansfield and Crestline neighborhoods to Kightlinger and Lamb for an exorbitant price between May 2006 and June 2007.
Dettelbach said that Songer and his state-owned business, S.S., had rental properties that were in disrepair and were no longer profitable enterprises.
According to the News-Herald website, Matt Songer later sold the real estate holdings, with Hedges holding the agent position and Barcomb serving as the loan officer.
A new step is the filing of a case against Barcomb, who is allegedly involved in the dishonest manipulation of loan applications.
Barcomb is accused of manipulating the loan applications to make it appear as though Kightlinger and Lamb were providing the down payment when, in fact, Songer was the source of funding.
A number of lenders, including Geauga Savings Bank, Suntrust Mortgage, Inc., and American Brokers Conduit, are said to have approved and funded the loans as a result of this fraudulent scam.
Unfortunately, all of the properties that were bought with these loans eventually went into foreclosure as a result of this fraudulent activities. Kightlinger and Lamb allegedly couldn’t afford to make their mortgage payments.
Assistant United States Attorney Mark S. Bennett is leading the prosecution in this case, which was looked into by the FBI’s Mansfield Office.
These legal actions are a crucial step in making those responsible for fraudulent acts that hurt lenders and negatively impact families who are affected by foreclosures accountable.
Mortgage Scheme Worth $2.2 Million: Matt Songer Kirtland and Five Others Charged in the Mansfield and Crestline Areas
The United States Attorney for the Northern District of Ohio, Steven M. Dettelbach, revealed that five people, including Matt Songer Kirtland, have been charged with mortgage fraud pertaining to 67 houses in the Mansfield and Crestline areas. Consequently, the lenders incurred substantial losses totaling in excess of $2.2 million.
Based on the evidence presented, the defendants are charged with one count of conspiring to possess wire fraud and bank fraud as part of a mortgage fraud scheme. This implies that the people involved were working together to mislead and cheat banks by engaging in illegal mortgage-related activities.
The defendants are thought to have worked together to organize the scheme, which involved several properties. The specifics of the purported actions that resulted in the banks’ financial loss are yet unknown.
Nonetheless, it’s evident that the accused parties’ deceptive actions had a big influence on the lenders.
The fact that the five people, including Matt Songer Kirtland, are facing legal proceedings shows how seriously the authorities take these kinds of violations. The allegations brought against them demonstrate the breadth of their alleged illegal activity, as they cover both wire fraud and bank fraud.
These events serve as a reminder of how critical it is to protect lenders’ and financial institutions’ interests as well as the integrity of the mortgage business.
Mortgage fraud schemes endanger the stability of the housing industry overall in addition to causing these institutions to suffer significant losses.
The details of the purported mortgage fraud plan, including the precise roles performed by each of the defendants, will probably become clearer throughout the upcoming judicial proceedings.
Ensuring that justice is served and that those liable for the fraudulent acts are held accountable for their actions will be critical as the case moves forward.
In a mortgage fraud conspiracy involving the selling of rental properties, five people have been prosecuted. Matt Songer Kirtland, Kevin D. Barcomb, Dawn M. Hedges, Ronald L. Kightlinger, Jr., and Peter R. Lamb are among the defendants in this fraud case.
The plan was implemented between May 5, 2006, and June 20, 2007. During this period, Songer sold Kightlinger and Lamb 67 homes at inflated rates through his company, S.S. Real Estate Investments, Ltd. Hedges and Barcomb helped with the transactions.
In Mansfield and Crestline, Ohio, Matt Songer Kirtland and S.S. Real Estate possessed more than a hundred rental houses that had fallen into disrepair and were no longer lucrative. In order to help with the mortgage fraud plot, they chose to sell off the properties and hired Hedges as the title agent and Barcomb as the loan officer.
The allegations state that Songer gave Kightlinger and Lamb the down payment money for the properties they wanted to buy, but he didn’t tell the lenders this.
Barcomb fabricated the loan applications to give the impression that Lamb and Kightlinger had contributed their own money. In a similar vein, Hedges falsified settlement statements to conceal the real source of the down payment money.
Kightlinger and Lamb approved the submission of the false loan applications and settlement statements to the lenders by signing them knowingly. Consequently, the mortgage loans were funded by a number of lenders, including American Brokers Conduit, Suntrust Mortgage, Inc., and Geauga Savings Bank.
However, all of the properties entered foreclosure when Kightlinger and Lamb failed to make the mortgage payments.
In the event that the defendants are found guilty, the court will decide on their punishments based on their past criminal histories, their involvement in the incident, and the specifics of the violation. The punishments will not go above the maximum allowed by law, and they will typically be less.
Assistant United States Attorney Mark S. Bennett is prosecuting the case after the Federal Bureau of Investigations’ Mansfield Office conducted an investigation.
Note: Information does not prove guilt; it is merely a charge. The government is required to prove their guilt beyond a reasonable doubt in order to grant them a fair trial.
Everything you Should know about Cases of Mortgage Fraud
The term “mortgage fraud” covers a broad spectrum of dishonest activities, including giving false or misleading information about a property or mortgage application, according to the Federal Bureau of Investigation (FBI).
These dishonest activities can include making big false assertions, misrepresenting facts, or purposely leaving out vital information. Mortgage fraud can happen at any point during the loan application process and has a significant influence on the choice made by lenders or underwriters over whether to grant money, buy a property, or insure a loan.
In order to fool lenders or underwriters, these fraudulent practices, such as Matt Songer Kirtland and four others, may entail falsifying financial papers, giving fake appraisals, or working along with others.
Beyond just causing personal losses, mortgage fraud can have a significant negative impact on the economy by raising the possibility of financial instability and recessions.
The Bottom Line
Ultimately, Matt Songer Kirtland was given the harshest punishment of all, along with four other people who were a part of a multi-million dollar mortgage fraud conspiracy. Matt Songer Kirtland was sentenced to 30 months in federal prison and must complete a 500-hour drug treatment program.
In addition, Songer must reimburse three banks for more than $2.2 million. The other accused including Kevin D. Barcomb, Dawn M. Hedges, Ronald L. Kightlinger, Jr., and Peter R. Lamb are involved in the case and received lighter penalties, with one receiving probation and others serving between six months and two years in prison.
The result demonstrates how serious Matt Songer Kirtland’s role in the plot was and how determined the judges were to punish him responsible for his deeds. To learn more about Matt Songer, you have to follow the link: Matt Songer Kirtland
