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Servicing / The Ticker

Two men plead guilty to mortgage fraud

Face up to five years in prison

Money Trap

According to the Dallas Morning News, Jarrod Williams, 34, and Julius Williams, 43, of McKinney, Texas, pleaded guilty to conspiracy after partaking in an elaborate mortgage fraud scheme.

The publication says,

"The two men operated a company called Applied Investment Strategies Inc., along with co-defendant Charles Williams. The company helped homeowners at risk of foreclosure by offering to take over payments or buy their houses. Federal prosecutors say the men would fraudulently acquire the house. The men then used their customers’ information to create false military orders that they would send to banks and lending institutions and claim relief from foreclosure under the Servicemember’s Civil Relief Act."

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