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In the following To view links in this forum your post count must be 10 or greater. Your post count is 0 momentarily. Catherine L. Hanaway, United States Attorney for the Eastern District of Missouri announced that a former loan officer for Homeland Financial Group has been indicted on mortgage fraud charges involving a St. Louis City property.
“This indictment describes the kind of outrageous abuses of the mortgage underwriting industry that have become all too familiar,” said Hanaway. “Everyday American taxpayers are realizing that they will ultimately pay the price for the massive losses sustained by lenders unfortunate enough to have been victims of this type of activity.”
Deandrea Robinson worked as a loan officer for Homeland Financial Group in St. Louis County, and owned and controlled business entities JD Consulting, LLC and DCR Investments, LLC. According to state records, these entities were located at Robinson’s home in Florissant, MO.
Between January 2004 and April 2005, Robinson twice located a “straw buyer” to serve, for purposes of loan paperwork, as the buyer for a property at 4257 Maryland, St. Louis City. The straw buyers had no intention of residing at the property or of making payments on the mortgages secured to finance the property. Robinson falsely inflated the straw buyers’ income and assets to ensure they would qualify for financing. Once the straw buyers qualified for financing, Robinson manipulated the paperwork to direct proceeds of the financing to one of the business entities he controlled. By “flipping” the subject property twice in 2004 and 2005, Robinson directed approximately $178,000 to these business entities.
Soon after the second “flipping” of the above property, Robinson’s straw buyer failed to make payments under the mortgage and the lender foreclosed on the property.
Robinson, 33, formerly of Florissant, MO, currently residing in Indianapolis, IN, was indicted by a federal grand jury on one felony count of wire fraud. If convicted, he faces a maximum penalty of up to 20 years in prison and/or fines up to $250,000.
Last November, U.S. Attorney Hanaway convened the first meeting of the U.S. Attorney’s Mortgage Fraud Task Force. The task force consists of over 70 residents of the Eastern District of Missouri involved in banking, mortgage brokerage, real estate sales, title insurance, real estate appraising as well as federal, state, and local law enforcement, regulatory officials and non-government organizations. Anyone wishing to report suspected mortgage fraud or participate in the work of the task force is encouraged to call the Mortgage Fraud hotline at 1-866-587-9571.
Hanaway commended the work on the case by the U.S. Postal Inspection Service, the U.S. Department of Housing and Urban Development - Office of the Inspector General and the FBI, and Assistant United States Attorney Tom Albus, who is handling the case for the U.S. Attorney’s Office.
The charges set forth in an indictment are merely accusations, and each defendant is presumed innocent until and unless proven guilty.


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