A former Texas mortgage broker has received a prison sentence for his role in deceiving wholesale lenders on more than a dozen transactions.
Alfer Rodenburg was a mortgage broker in Houston. He arranged first and second mortgages between prospective borrowers and wholesale mortgage lenders.
On 14 of those loans, Rodenburg, 65, is accused of conspiring with co-defendant Walter Woldt to deceive the wholesalers into making the loans.
That is according to the U.S. Attorneys Office for the Northern District of Indiana, which said the pair prepared fraudulent loan applications in connection with the purchase of the properties.
Contained in the applications were false statements and representations about the co-defendant liabilities. By hiding the liabilities, the defendants prevented lenders from accurately assessing borrowers’ qualifications.
In all, the government alleges $1.4 million in fraudulent loans were funded.
On Friday, U.S. District Judge
Joseph S. Van Bokkelen sentenced Rodenburg to 14 months in prison. He must report to the Bureau of Prisons on April 6 — the same day that Woldt will be sentenced. Rodenburg was also ordered to pay $1 million in restitution.
