Arkansas Manufactured-Home Company Owner Gets 2+ Years On Mortgage Fraud, Tax Charges

The Associated Press reports:

• In addition to serving 30 months in federal prison, a Searcy woman who pleaded guilty to mortgage fraud and filing false income tax returns will have to pay $120,000 in restitution to victims. Federal Judge Susan Webber Wright sentenced 54-year-old Debby Cossitt [Monday].

Reportedly, Cossitt was owner, manager or operator of several manufactured-home sales companies in Searcy, Batesville, Jonesboro and Harrison who admitted falsifying mortgage-loan application documents to increase her business, including inflating bank balances of those buying homes, the size of down payments, and incomes. For more, see Sentence for mortgage fraud includes restitution.