A Miami title agent and former mortgage broker was found guilty for her role in a reverse mortgage fraud scheme in connection with a loan worth more than $400,000.
Yesenia Pouparina was convicted of four counts of wire fraud, one count of mail fraud and making false representations related to the occupancy of the property and its subsequent short sale. The jury also found that three bank accounts controlled by the defendant, which were seized by the government during the course of the investigation, should be forfeited.
According to court documents and evidence presented at trial, Pouparina, a licensed title agent in the state of Florida, devised a scheme to obtain a reverse mortgage loan on her own property in the name of her mother, an individual who failed to meet the requirements of the reverse mortgage program. Pouparina submitted a false loan application to a lender and doctored records in support of that application, misrepresenting her mother’s eligibility to participate in the program.
Pouparina acted as the title agent for the loan and disbursed the loan proceeds directly to her own personal bank accounts. Pouparina also enriched herself by collecting fees generated by the loan, and also profited by using the loan proceeds in connection with her business as a “hard money lender” in other mortgage deals.
Sentencing is scheduled for May 9. Pouparina faces a maximum potential penalty per count of 20 years in prison and a $250,000 fine, or twice the net gain or loss from the offense.
This case was investigated by the Office of Inspector General, U.S. Department of Housing and Urban Development.