Three East Texans Indicted In Mortgage Fraud Scheme - - Tyler, Longview, Jacksonville |ETX News

2/8/08-East Texas

Three East Texans Indicted In Mortgage Fraud Scheme

A Navarro County grand jury indicts three East Texans for allegedly engaging in an organized mortgage fraud scheme.  The Attorney General's Office says Darrell Marriott, 54, Kandace Marriott, 51, both of Gun Barrel City and Karen Hayes, 51 of Kemp falsified residential loan applications to ensure the buyer's loans were approved by mortgage lenders.  Authorities say the scheme involved predominantly low-income purchasers whose residential loans were guaranteed by HUD.  When the unqualified buyers defaulted on their home loans, HUD was required to cover the costs, costing taxpayer's more than $3 million.  Authorities say the mortgage scheme spanned several counties.

Molly Reuter, Reporting.


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