A Dorchester mortgage officer pled guilty yesterday in Suffolk Superior Court to multiple charges in connection with her fraudulent activity in securing subprime mortgages for several unqualified home buyers.
Nicole Lyder, 34, pled guilty to six counts of forgery, five counts of larceny of bank credit by false pretenses, six counts of uttering a false document and four counts of making or publishing false or exaggerated statements.
She was sentenced to serve two years in the house of correction, committed, on the charges of forgery and larceny of bank credit by false pretenses, sentences to run concurrent. On the charge of uttering a false document, Suffolk Superior Court Judge Christine sentenced Lyder to two years in the house of correction, sentence suspended for three years to begin from and after the sentences for forgery and larceny of bank credit by false pretenses. On the charge of making or publishing false or exaggerated statements, Judge McEvoy sentenced Lyder to probation to run concurrent with the sentence of uttering a false document.
Beginning in November 2005, Lyder engaged in fraudulent activity in order to secure subprime mortgage loans for several home buyers in Dorchester, Randolph, and Taunton. Lyder engaged in this activity without the knowledge of the home buyers and with the knowledge that the buyers would not otherwise qualify for mortgages, according to the Attorney General.
Beginning in April 2006, Lyder was employed by Lehi Mortgage. The Attorney General’s Office began an extensive investigation into Lyder’s activities after receiving a complaint about her in September 2006.
"The investigation focused on mortgage loans that Lyder assisted homebuyers in securing from Fremont Investment & Loan – two for properties in Dorchester, one in Randolph, and one in Taunton. Specifically, investigators found that Lyder had forged business certificates which contained false information relating to the financial status of the home buyers. Lyder then submitted those forged business certificates to Fremont on behalf of the home buyers. In addition, in each of these four home purchases Lyder also exaggerated the home buyers’ financial standing on various other documents submitted to Fremont in support of the loan applications. As a result of this fraudulent activity, Lyder collected thousands of dollars in commissions," according to a statement from the AG’s office.
