Corrupt Mortgage Company Head Cops Plea In Flipping Racket; Agrees To Finger Title Insurance/Closing Agent In Ongoing Prosecution

In Cleveland, Ohio, WKYC-TV Channel 3 reports:

• Cuyahoga County Prosecutor Bill Mason said a grand jury has brought down a 46-count indictment against owner Donna Sherman and her title company, Sherman Title Agency, of Northfield. Sherman, 33, of Middleburg Heights, fraudulently closed $1.4 million in loans from People's Choice Home Loans that enabled others engaged in fraud to purchase 21 houses in Cuyahoga County. Seventeen of the 21 homes fell into either tax or mortgage foreclosure.

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• This scheme was orchestrated by Fred Loewinger, 62, of Strongsville, who was a licensed loan officer and owner of Fast Mortgage, and the owner of MJL Processing, Ltd., Inc. In a recent case, Loewinger and others were charged and sentenced for their involvement in this enterprise. On February 15, Loewinger was sentenced to six years in prison after pleading guilty to engaging in a pattern of corrupt activity along with 25 additional felonies. As part of the plea, Loewinger will testify against Sherman.

For more, see Middleburg Hts woman indicted for theft, mortgage fraud.