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Matt Songer Kirtland has been accused of mortgage deceit which cost lenders more than $2.2 million. Thus, Steven M. Dettelbach, who is a United States Attorney for the Northern District of Ohio stated that there are also five people involved in this mortgage case along with Matt Songer Kirtland such as Kevin D. Barcomb of Kirtland, Dawn M. Hedges, Ronald L. Kighhtlinger, Jr., and Peter R. Lamb. All five men were sued with one count of conspiracy to perform bank fraud and wire scam in a mortgage fraud scheme.
The charges filed against them stated that from May 2006 to June 2007, Matt Songer Kirtland sold around 67 properties in the Mansfield and Crestline region at an excessive price to Kightlinger and Lamb, with the help of Barcomb and Hedges.
Matt Songer Kirtland along with his organization S.S., a real-estate
According to the charge, from May 2006 to June 2007, Songer sold 67 properties in the Mansfield and Crestline areas at an inflated price to Kightlinger and Lamb, with the help of Barcomb and Hedges.
According to Dettelbach, he said that Songer and his company S.S., a state-owned property have rental properties that were in dilapidation and no longer profit-making firms.
The News-Herald website, claims that later, Matt Songer sold the real-estate properties with Barcomb as the loan officer and Hedges had the title of the agent.
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In a recent development, a charge has been filed against an individual named Barcomb, accusing them of deceitfully manipulating loan applications.
According to the charge, Barcomb is alleged to have manipulated the loan applications to falsely show that Kightlinger and Lamb were making the down payments, while in reality, the funds were provided by Songer.
This deceitful scheme allegedly led various lenders, including Geauga Savings Bank, Suntrust Mortgage, Inc., and American Brokers Conduit, to approve and fund the loans.
However, the unfortunate consequence of this fraudulent activity was that all of the properties purchased through these loans eventually went into foreclosure. Reportedly, Kightlinger and Lamb were unable to make the necessary mortgage payments.
The case is being prosecuted by Assistant United States Attorney Mark S. Bennett, and it was investigated by the Mansfield Office of the FBI.
These legal actions are an important step in holding accountable those involved in fraudulent activities that harm both lenders and individuals adversely affected by foreclosures.
$2.2 Million Mortgage Scheme: Matt Songer Kirtland along with Five Individuals Charged In Mansfield And Crestline Areas
Steven M. Dettelbach, the United States Attorney for the Northern District of Ohio, disclosed that five individuals including Matt Songer Kirtland have been implicated in a mortgage fraud scheme involving 67 properties located in the Mansfield and Crestline regions. As a consequence, the lenders suffered significant losses amounting to over $2.2 million.
The information brought forward implicates the accused parties in a single count of conspiracy to possess both bank fraud and wire fraud within the framework of a mortgage fraud scheme. This suggests a collaborative effort among the individuals to deceive banks and defraud them through illicit activities related to mortgages.
The scheme, which spanned across multiple properties, is believed to have been orchestrated by the accused in collusion with each other. The details of the alleged activities leading to the banks’ financial loss remain undisclosed.
However, it is clear that the lenders were significantly impacted by the fraudulent undertakings of the accused parties.
The legal action taken against the five individuals including Matt Songer Kirtland indicates the seriousness with which the authorities regard such offenses. The charges filed against them encompass both bank fraud and wire fraud, highlighting the wide-reaching nature of their alleged criminal activities.
These developments come as a reminder of the importance of maintaining the integrity of the mortgage industry and safeguarding the interests of financial institutions and lenders.
Mortgage fraud schemes not only inflict substantial losses on these institutions but also threaten the stability of the housing market as a whole.
The forthcoming legal proceedings will likely shed more light on the specifics of the alleged mortgage fraud scheme, including the exact role played by each of the accused individuals.
As the case progresses, it will be crucial to ensure that justice is served and that those responsible for the fraudulent activities are held accountable for their actions.
Charges in a mortgage fraud scheme involving rental properties
Five individuals have been charged in a mortgage fraud scheme involving the sale of rental properties. The accused involved in this fraud case include Matt Songer Kirtland, Kevin D. Barcomb, Dawn M. Hedges, Ronald L. Kightlinger, Jr., and Peter R. Lamb.
The scheme lasted from May 5, 2006, to June 20, 2007. During this time, Songer, through his company S.S. Real Estate Investments, Ltd., sold 67 properties at inflated prices to Kightlinger and Lamb. Barcomb and Hedges assisted in the transactions.
Matt Songer Kirtland and S.S. Real Estate owned over 100 rental properties in Mansfield and Crestline, Ohio, that had become dilapidated and unprofitable. They decided to sell off the properties and enlisted Barcomb as the loan officer and Hedges as the title agent to aid in the mortgage fraud scheme.
According to the charges, Songer provided the down payment funds for Kightlinger and Lamb to purchase the properties but concealed this fact from the lenders.
Barcomb prepared the loan applications to make it seem like Kightlinger and Lamb had provided their own funds. Hedges prepared settlement statements in a similar way to hide the true source of the down payment funds.
Kightlinger and Lamb knowingly signed the fraudulent loan applications and settlement statements and allowed them to be submitted to the lenders. As a result, several lenders, including Geauga Savings Bank, Suntrust Mortgage, Inc., and American Brokers Conduit, funded the mortgage loans.
However, when Kightlinger and Lamb were unable to make the mortgage payments, all the properties went into foreclosure.
If convicted, the defendants could face sentences determined by the court based on their prior records, role in the offense, and the characteristics of the violation. The sentences will not exceed the statutory maximum, and in most cases, they will be less.
The case is being prosecuted by Assistant United States Attorney Mark S. Bennett, following an investigation by the Mansfield Office of the Federal Bureau of Investigations.
Note: Information is only a charge and is not evidence of guilt. They are entitled to a fair trial where the government must prove guilt beyond a reasonable doubt.
All you need to know about Mortgage Fraud Case
According to the Federal Bureau of Investigation (FBI), mortgage fraud refers to a wide range of deceptive practices that involve providing false or misleading information related to a property or mortgage application.
These deceitful actions can include making significant false statements, misrepresenting facts, or intentionally leaving out important information. Mortgage fraud can occur in various stages of the loan process and can greatly impact the decision of underwriters or lenders to provide funds, purchase a property, or insure a loan.
These fraudulent activities like Matt Songer Kirtland and 4 more can involve manipulating financial documentation, providing false appraisals, or colluding with others to deceive lenders or underwriters.
Mortgage fraud can have far-reaching consequences beyond individual losses, potentially leading to an increased risk of financial instability and economic downturns.
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Final Thoughts
In conclusion, Matt Songer Kirtland along with four individuals involved in a multi-million dollar mortgage fraud scheme, received the heaviest sentence of all. Matt Songer Kirtland was sentenced to 30 months in federal prison and must complete a 500-hour drug treatment program.
Additionally, Songer is obligated to pay over $2.2 million in restitution to three banks. 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 lesser sentences, with one receiving probation and others serving between six months and two years in prison.
The outcome highlights the severity of Matt Songer Kirtland’s involvement in the scheme and the courts’ determination to hold him accountable for his actions. To read more about Matt Songer, you have to follow the link: Matt Songer Kirtland
