The Real Deal Miami

Mortgage fraud charges against Miami exec

December 12, 2008 02:10PM

Federal prosecutors filed a fraud charge yesterday against Steven
Gordon, 49, a Miami financial executive accused of inflating credit
scores in a mortgage-backed securities scam. Gordon substituted higher
credit ratings on over 2,800 loans, in his position as a director at
Coral Gables-based Bayview Financial. These loans were packaged with
others and sold to investors. Gordon got an extra $2.8 million in
commissions from the fraudulent loans.