Three Indicted In Alleged Mortgage Fraud Scheme
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(February 7, 2008)—The Navarro County Grand Jury handed up indictments Thursday against Darrell L. Marriott, 54 and Kandace Y. Marriott, 51 of Gun Barrel City and Karen Hayes, 56, of Kemp in what prosecutors alleged was a mortgage fraud scheme that cost taxpayers more than $3 million.

Prosecutors said the four-county conspiracy involved loans backed by the U.S. Department of Housing and Urban Development.

The indictments allege the three engaged in a criminal conspiracy involving the sale of motor homes.

“Evidence obtained by investigators indicates the defendants, doing business as One Way Home & Land, falsified residential loan applications in order to ensure that the buyers’ loans were approved by mortgage lenders,” the Texas Attorney General’s Office said.

“The defendants illegally forged purchasers’ signatures, inaccurately completed loan applications, and falsified supporting documents, including the buyers’ rent payment verification statements, proof of employment, and Social Security Administration benefits information, among other documents,” the Attorney General’s Office said.

Investigators say the scheme targeted mainly low-income purchasers whose residential loans HUD guaranteed.

“As a result, when the unqualified buyers defaulted on their home loans, their mortgage lenders did not suffer financial losses. Instead, HUD had to cover the costs,” the Attorney General’s Office said, to the tune of $3 million or more.
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(Darrell Marriott)
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