Another Mortgage Broker Charged By Feds

  • Monday, September 11, 2006

Another local mortgage broker has been nabbed by federal authorities for allegedly inflating the price of home sales to loan companies.

Jay Ann Snyder was arraigned Monday before Magistrate Susan Kerr Lee.

Charged along with her is Mark Estell Wilkins.

Prosecutors said Ms. Snyder created false settlement papers to misrepresent the down payments made by the borrowers, including Wilkins.

They said she generated inflated fees, service charges and commissions and shared the money with Wilkins, who purchased a number of properties.

A house at 3905 Fifth Ave. sold for $37,500. SunTrust Bank was told the price was $54,000.

A house at 3115 14th Ave. sold for $22,000. SunTrust Bank was told the price was $58,000.

Ms. Snyder and Wilkins are facing wire fraud charges.

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