Head of firm pleads guilty in mortgage fraud

December 19, 2008|By Tricia Bishop | Tricia Bishop,tricia.bishop@baltsun.com

The head of a Lanham company that promised to help people facing foreclosure but instead used their homes to steal millions of dollars through a series of complicated mortgage fraud schemes pleaded guilty yesterday in U.S. District Court in Greenbelt to conspiracy to commit mail and wire fraud. Jennifer McCall, the 47-year-old chief executive of Metropolitan Money Store Corp. is the fifth of eight defendants in the case to plead guilty. According to a statement of facts attached to her plea agreement, McCall, her husband and other conspirators talked homeowners into turning their property titles over to a third party while Metropolitan Money Store helped them repair their credit ratings and obtain better mortgage rates. But the company and affiliated businesses in Prince George's County used the properties to apply for loans, extract equity from the homes and charge fees for services that were never performed.

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