The Real Deal Miami

Miami mortgage broker imprisoned for fraud

May 06, 2010 01:28PM

A Miami-based mortgage broker has been sentenced to five years in prison for mortgage fraud, while his mother, a loan processor and his employee, has been sentenced to four years behind bars. Michael Ramos and his mother, Paula Ramos, perpetrated a mortgage scam valued between $7 million and $20 million, according to the U.S. Attorney’s office, through their companies Go Expert Mortgage and Go Expert Real Estate. The pair reportedly used straw buyers to take out fraudulent mortgages in both Miami and Miami Beach. [Loan Safe]