Judgment Signed: A San Diego judge has...
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Judgment Signed: A San Diego judge has completed a $1.2-million verdict won by Plaza Home Mortgage Bank against borrowers, brokers and mortgage companies involved in a scheme to defraud the thrift on two San Diego home mortgages.
Superior Court Judge Franklin Mitchell signed the judgment this week after rejecting defense motions to modify his April 30 award to Plaza. The judge found that two brokers defrauded the savings and loan, based in Santa Ana, by submitting loan applications containing false paycheck stubs, false tax returns and names of nonexistent employers.
He found that the borrowers negligently misrepresented their financial condition and that the mortgage companies were negligent in processing the loans.
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