Six in Portland area charged with mortgage fraud


A grand jury has charged six Portland-area individuals with fraud and conspiracy as part of a continuing federal crackdown on mortgage fraud.

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Six people in the Portland area were charged with fraud and conspiracy Wednesday, as part of a federal crackdown on mortgage fraud that started in 2008.

Two of the individuals worked for Lighthouse Financial Group, a now-defunct Vancouver company that already had three employees indicted for fraud.

The grand jury leveled a second indictment against Amsden and four others, accusing them of conspiring in a similar fraud scheme. Also indicted were Jo Schermerhorn, an Oregon tax preparer, Gerald Wallis, an allegedly unlicensed contractor, and two Oregon Realtors, Timothy Hills and Misti Wallis.

The five allegedly conspired to get two loans totaling $1.47 million from Washington Mutual to buy a lot at 14989 S. Clackamas River Road in Oregon City and build on the site. They allegedly cooperated to submit a false loan application in the name of Misty Wallis’ mother.

Read the whole story at OregonLive.com.

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