Daily News and Information for the Mortgage Loan Originator
Cash-Out Refinance Ends in FBI Arrest
Wednesday, June 28, 2006
- By Staff Writer, Originator Times
STUART, FL - Donna June Baker and Lanamasha Hampton aka Lana Mixon were arrested on federal mortgage fraud charges after allegedly using a false identity to purchase and refinance an Atlanta home.
Baker allegedly used a stolen identity to attempt to close on a million dollar cash-out mortgage refinance. Baker planned to pocket $100,000 in cash after the closing. Instead, she and her associate, Hampton, were escorted away in handcuffs by the FBI.
Baker initially purchased the property with her stolen identity and false documentation in September 2005 for just over $1 million. Baker used the same stolen identity and false documentation in her attempt to refinance the property with First Bank of Arizona.
The FBI investigation showed that Baker and Hampton stole the identity of a pensioner living on a modest income. They inflated that income by over $23,000 per month. Baker provided false bank records and made up assets. The FBI claims Hampton assisted by supporting and verifying the false documents.
Baker and Hampton will appear before A U.S. Magistrate Judge this February.
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