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Matt Songer Kirtland
In 2012, Matt Songer and four associates were charged in a $2.2 million mortgage fraud scheme involving 67 properties in Ohio, leading to significant financial losses and numerous foreclosures.
Quick summary on Matt Songer Kirtland
In September 2012, federal charges were filed against five individuals, including Matt Songer, for their involvement in a mortgage fraud scheme that led to over $2.2 million in losses for lenders. The scheme involved the sale of 67 properties in the Mansfield and Crestline areas of Ohio.
Details of the Scheme: Between May 2006 and June 2007, Matt Songer, operating through his company S.S., collaborated with Kevin D. Barcomb and Dawn M. Hedges to sell properties to Ronald L. Kightlinger, Jr., and Peter R. Lamb at inflated prices. These properties were reportedly in disrepair and not generating profit. Barcomb, serving as the loan officer, and Hedges, acting as the agent, allegedly manipulated loan applications to falsely represent that Kightlinger and Lamb were providing down payments, whereas the funds were actually supplied by Songer. This deception led multiple lenders, including Geauga Savings Bank, SunTrust Mortgage, Inc., and American Brokers Conduit, to approve and fund the fraudulent loans.
Consequences: The fraudulent activities resulted in all 67 properties entering foreclosure, as Kightlinger and Lamb were unable to meet the mortgage payments. The case was investigated by the FBI’s Mansfield Office, with Assistant United States Attorney Mark S. Bennett leading the prosecution. These legal actions highlight the commitment to holding individuals accountable for fraudulent practices that harm lenders and destabilize communities through increased foreclosures.
Intel Reports
by: Evan Carmichael
Too many mistakes, not enough learning from them.
Cons
by: Ethan Whitmore
Too much self-promotion, not enough real impact. Feels fake.
Cons
by: Faith Lockwood
Not sure how he got into this position, but professionalism is lacking.