Ex-NH Prosecutor/Former State Lawmaker Cops Plea To Lying On Mortgage Loan Applications, Failing To Disclose To Lender Side Deal With Builder

In Concord, New Hampshire, the New Hampshire Union Leader reports:

• A former part-time Hillsborough County prosecutor(1) pleaded guilty yesterday to defrauding two mortgage companies and could face a federal prison sentence when she returns to court in January to be sentenced, federal prosecutors said [...]. Brookline resident Paula Philbrook, 41, admitted that she inflated her income on applications in order to obtain more than $600,000 in mortgage financing to build two homes in Brookline. She falsely claimed she was living in one home, although she actually was leasing it out and had it on the market. And her mortgage application omits a key portion of the contract between her and her builder. The deal called for Philbrook and her builder to split the down payment and mortgage payments and share in the proceeds of the sale.

For more, see Ex-prosecutor admits $600k mortgage scam.

For the U.S. Attorney press release, see Former County Prosecutor Pleads Guilty To Mortgage Fraud.

(1) Reportedly, Philbrook is also a former state lawmaker - a member of the New Hampshire House of Representatives - who represented Nashua in the 1990s.