Explore the evolving landscape of mortgage origination, influenced by shifting interest rates, housing market dynamics, and regulatory changes. Discover strategies for lenders to adapt and thrive in this dynamic environment.
Estimated reading time: 0 minutes, 25 seconds
A Florida real estate developer has received a sentence of 20 months in federal prison for a mortgage fraud scheme involving a hotel that had been converted into condominiums. So reports the Florida Business Observer.
Marek Harrison, 56, of Plant City, Fla., also must pay more than $2.7 million in restitution after pleading guilty to bank fraud.
Court documents state that from 2007 to 2008, Harrison paid co-conspirators kickbacks using mortgage funds relating to the Saratoga Resort Villas in Kissimmee, Fla.
