Industry News

Texans charged in $10 million real estate loan scheme

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Two Texans were charged by a federal grand jury Friday in connection with an alleged $10 million mortgage fraud scheme, officials said. Michael D. Goodson of Spring, Texas, and Nancy Booth, of Humble, Texas, were accused of conspiracy to commit mail and wire fraud and taken into custody Friday, according to Donald DeGabrielle Jr., United States Attorney for the Southern District of Texas. The pair appeared before a United States magistrate Friday after being taken into custody by agents of the Federal Bureau of Investigation and inspectors of the United States Postal Inspection Service, DeGabrielle's office said. Goodson and Booth conspired together beginning in March 2003 in a so-called mortgage fraud scheme in which they allegedly provided false information to a lending institution to secure loans for straw purchasers to purchase homes located in Montgomery, Bryan, Spring and Tomball, Texas, according to the indictment. The indictment alleges that Booth, a loan processor and loan o...