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by CareyBot

A North Carolina mobile home salesman and one of his employees face federal charges accusing them of arranging $11 million worth of fraudulent mortgages for their customers, the Raleigh, N.C., News & Observer reported Tuesday. Legal documents said Donald W. Gupton, owner of Dynasty Homes of Henderson, Superior House Center, and Creative Real Estate and Manufacturing Housing Sales Center, and a manager, Richard D. Meador, used various methods to falsify applications. One method was using the same mobile home as a trade-in for nine buyers, according to legal documents in the case. "Between 1999 and 2003, the conspirators sold in excess of 150 manufactured homes that resulted in HUD-backed mortgages exceeding $11 million," according to the charges against the pair. The U.S. Housing and Urba...