South Florida loan officers banned by HUD following fraud conviction

Following their conviction for defrauding elderly homeowners, three South Florida mortgage loan officers have been banned from government business by the U.S. Department of Housing and Urban Development, the Sun Sentinel reported. Each of the three, along with a Pittsburgh-based title agent, pleaded guilty to conspiracy to commit wire fraud. “HUD will not tolerate those who abuse the mortgage system and target elderly borrowers for their own personal gain,” said Shaun Donovan, HUD Secretary. [Sun Sentinel]