Illinois Loan Officer Gets 20 Months In FHA Mortgage Scam

In Rockford, Illinois, the Rockford Register Star reports:

• A former Rockford loan officer was sentenced to 20 months in federal prison and fined nearly $500,000 for her part in a five-person mortgage fraud ring that ran from 2001 to 2003. Rhonda Torossian, 46, of Rockford was sentenced today in federal court. She was the third of the five to be sentenced and the first to receive prison time in the scheme where the group falsified Social Security numbers, created fraudulent employment verifications, bank checks and credit letters so families could receive mortgage loans insured by the Federal Housing Authority.

For more, see Ex-Rockford loan officer's sentence includes no chance of parole.