Centerville Woman Sentenced in Multi-Million-Dollar Mortgage Fraud Scheme

Scheme Targeted Non-English Speaking Home Buyers in the Northern Virginia Hispanic Community

U.S Attorney's OfficeOctober 3, 2014

Eastern District of Virginia (703) 299-3700

ALEXANDRIA, VA--Lorene Chittenden, 57, of Centerville, Va., was sentenced today to 42 months in prison, followed by three years of supervised release, for conspiracy to commit bank fraud and related charges arising from a multi-million dollar mortgage fraud scheme.

The amounts in restitution and forfeiture that Chittenden will pay will be determined at a later hearing. More than $1 million dollars in bank accounts belonging to Chittenden were seized by law enforcement agents when the charges were first filed.

Dana J. Boente, U.S. Attorney for the Eastern District of Virginia; Andrew McCabe, Assistant Director in Charge of the FBI'sWashington Field Office; and Fred W. Gibson, Principal Deputy Inspector General for the Federal Deposit Insurance Corporation (FDIC) Office of Inspector General made the announcement after sentencing by U.S. District Judge Liam O'Grady.

Chittenden was found guilty after a six-day jury trial on May 7, 2014. According to court documents, Chittenden and her co-conspirators were responsible for over $15 million in losses to various lending institutions that purchased fraudulent loans that Chittenden originated as a loan officer at George Mason Mortgage, a subsidiary of federally-insured Cardinal Bank. The defendant and her co-conspirators from Manassas real estate firm Vilchez & Associates fraudulently inflated the income and assets of their clients to obtain mortgage loans in amounts that the clients were wholly unqualified for. Chittenden earned hundreds of thousands of dollars in loan commissions from the fraud, while ringleader Rosita Vilchez pocketed millions of dollars in real estate commissions. The Vilchez conspiracy targeted hundreds of non-English-speaking members of the northern Virginia Hispanic community who were not able to read the loan applications and closing documents they were asked to sign. Often the amount of the monthly mortgage payments was unknown or even misrepresented to the borrowers. Vilchez was recently arrested in Peru where she had been a fugitive. Her brother, Armando Pino, who was also a realtor at Vilchez & Associates, was arrested in Peru in December 2012. Both Vilchez and Pino are fighting extradition to the United States to face charges.
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Sounds like every other loan officer during the bubble. She goes to jail but the bankers don't is the irony.

It isn't irony. It would be irony if she had no fault. In cooperation with a loan originator who could dump the bad loans, she took commissions on sales of properties she knew the buyers could not afford to the tune of millions. Bad girl.

This is where the bad loans started. The banks share blame but they were forced into taking on risky lenders thanks to Barney Frank, Chris Dodd and Chuck Schumer. Not taking the loans was "racist" and "discrimination", and lending standards had to be set lower. Ladies like the above took advantage and made millions.

What a shock! Another beaner getting caught ripping off other beaners, it's like some sort of pandemic.

The bankers must trust the loan originators that they put the real income and assets on the applications. The bankers did not lie the loan originators did. Please Gerry tell me how the banker did anything illegal? If the banker made a bad financial deal that could result in a loss that is not illegal that is part of any business. No risk no reward.
Lying is not part of any business except for Democrat Party election business.

It's about time they caught that Skeezer. She is a joke.

Thank God I wasn't one of her clients, LOL. Usually I don't take loans from the untested banks. Last time I borrowed money from expertpaydayloans.com. Those guys gave me a loan. Before that I ruined my credit history. The loan was only with 3,5% interest. At first I thought it was some kind of scam. It wasn't. Now I have a perfect car and it is almost paid off. That's cool, because I can use it right now. I'm not so strong in money saving. But stronger than that woman, I suppose, LOL. Why else did she steal so much money?



Edited 1 time(s). Last edit at 12/11/2019 10:18AM by StroggCore.

Just change the companies names and you have EVERY MORTGAGE company in the area.
Remember Countrywide had strip mall offices during the hey day????
Kingstowne had one that was run by a crooked branch manager.
Too bad these illegals got caught.

G2 made the poster - mexico rewards theives they don't publish their photos

he's been stalking that woman for a month

look in Lodi california 95240 pine street

THIS WAS 2014. WHAT DID THEY DO, LET HER OUT OF PRISON EARLY?