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Broker agrees to plead guilty in federal mortgage scheme

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By ELAINE SILVESTRINI | The Tampa Tribune

Published: August 12, 2009

A broker for a Tampa mortgage company has agreed to plead guilty to federal conspiracy to commit mail and wire fraud for falsifying information on mortgage applications.

Gilberto Jesus Lima, a licensed mortgage broker, worked for Mortgage Corporation of America when he was supposed to pair qualified borrowers with lenders, according to his plea agreement. For his work, he received a commission of 70 percent of fees, while his employer received 30 percent.

From January 2005 through December 2006, Lima conspired to make false representations on mortgage applications to make it appear borrowers were qualified to receive mortgages they would otherwise not be able to obtain, according to his signed plea agreement on file in U.S. District Court.

The false statements inflated borrowers' income and assets while minimizing their liabilities.

The fraud involved more than 10 mortgages worth more than $1.5 million, resulting in losses to the lenders of between $1 million and $2 million.

The charge to which Lima has agreed to plead guilty carries a maximum term of 20 years in federal prison. Lima has also agreed to cooperate with prosecutors.

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