Borrower Jailed for Lying to Obtain Mortgage Loans

Julie C. Nichols General

Mortgagefraudblog.com

Rain Joakim-Anwa Davis, aka Jeri Lynn Hardin, 50, Sugar Land, Texas, has been handed a 33-month federal sentence following her conviction on two counts of wire fraud. Davis pleaded guilty January 22, 2013.

Davis was indicted in September 2012 along with co-defendant Sarah Michelle Black. They were accused of perpetrating a scheme to defraud lenders of mortgage loans by means of false and fraudulent information and claims made in connection with mortgage loan applications. Specifically, Davis admitted in her plea agreement she purchased two residential properties—one in Dallas and one in Houston, Texas. Loan funds from bank accounts of lenders were then transmitted in interstate commerce, through the Federal Reserve Bank of New York, by means of a wire communication into the bank accounts of the title companies.

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