Real estate broker pleads guilty to bank fraud in mortgage scheme

ORLANDO, Fla. — A Kissimmee real estate broker has pleaded guilty to committing bank fraud, said the U.S. Attorney’s Office for the Middle District of Florida (USAO).

Maria Del Carmen Montes, 46, of Kissimmee, pleaded guilty to three counts of bank fraud, United States Attorney Roger B. Handberg announced on Friday.

Each bank fraud count carries a maximum penalty of 30 years in federal prison. Montes was indicted, along with coconspirator Carlos Ferrer, on July 20, 2022.

According to the plea agreement, Montes, coconspirator Ferrer, and others created and executed a mortgage fraud scheme targeting financial institutions. Montes is said to have assisted clients with purchasing homes and, after signing the real estate contract, referred her buyers to a loan officer at a mortgage company.

To qualify her clients for mortgage loans for which they were unqualified, Montes transferred her clients’ personal identifying and financial information to Ferrer. She directed Ferrer to create fictitious paystubs and W-2s showing false earnings and length of employment for her clients, knowing that her clients never worked for the companies on the fictitious employment documents, the USAO said.

According to the USAO, after Ferrer created the documents, Montes submitted the fictitious paystubs and W-2s to the financial institutions that relied on them when making underwriting decisions.

The case was investigated by the Federal Housing Finance Agency – Office of Inspector General, the U.S. Department of Housing and Urban Development – Office of Inspector General, and the Federal Bureau of Investigation. Special Assistant United States Attorney Chris Poor is prosecuting it.