Earlier today, at the federal courthouse in Central Islip, Edward Sypher, Jr., formerly the chief financial officer of Long Island mortgage lender Vanguard Funding, LLC (Vanguard), was sentenced.
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Earlier today in federal court in Central Islip, New York, Edward J. Sypher, Jr., and Matthew T. Voss, senior executives at Long Island mortgage lender Vanguard Funding, LLC (Vanguard), pleaded guilty to conspiring to commit wire and bank fraud in connection with their diversion of more than $8.9 million of warehouse loans that Vanguard had obtained to fund mortgages.
Warehouse lending is a line of credit given to a loan originator to pay for a mortgage the borrower used to purchase property . The life of the loan generally extends from its origination to the.
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Long Island Crime LI mortgage executive pleads guilty to $8.9M fraud, federal prosecutors say. Edward E. Bohm, president of sales and an undisclosed owner of the now-defunct Garden City-based.
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The former owner of a Southern California mortgage banking firm has admitted that he duped his warehouse lender. Back in 2007, National City Bank provided warehouse lines of credit to mortgage lenders through an operation that was located in Louisville, Kentucky. The financial institution was a.
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charging Edward E. Bohm, Edward J. Sypher, Jr., and Matthew T. Voss, senior executives at Long Island mortgage lender Vanguard Funding, LLC (Vanguard), with conspiracy to commit wire and bank fraud in connection with their obtaining more than $8.9 million of warehouse loans for Vanguard to fund mortgages.
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