ANCHORAGE (AP) -- A grand jury has indicted a real estate agent and a former mortgage company employee for allegedly falsifying documents to obtain a loan for a man who wanted to buy rental properties, a federal prosecutor said Tuesday.
Delynn Brouillet, a former City Mortgage loan originator, and real estate agent Nancy Held are charged with conspiracy and providing false documents to get HUD-guaranteed loans. Their trial is scheduled for Nov. 29.
Prosecutors allege that on Sept. 1, 1996, Leslie Cox contacted Brouillet at City Mortgage. Brouillet got in touch with Held who three days later showed Cox several rental properties in the Mountain View neighborhood of Anchorage.
She told Cox that he could ''make a lot of money by buying rental property,'' according to charging documents.
Cox saw two properties he wanted. One was a four-unit rental property for $155,000 and the other was a four-unit property for $121,500.
Held assisted Cox in opening a credit union account in which he deposited $47,500. Five days after seeing the properties he withdrew $37,000 for the downpayment on the properties.
Assistant U.S. Attorney Crandon Randell said Cox had recently come by the money in an insurance settlement. However, Cox, who worked aboard fishing boats, did not have the income to qualify for the loans. His income over a two-year period was only about $8,000.
To get around that problem, Brouillet and Held created false tax returns for 1994 and 1995 that inflated Cox's income so he would be approved, Randell said.
''This guy never would have qualified,'' he said. ''The problem is that he didn't have the income, so they bumped up the income.''
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