Editorial by Matt Marquardt –
The U.S. Eighth Circuit Court of Appeals has thrown out three charges and upheld a fourth charge against a Mason City woman who was convicted in a mortgage fraud case in 2010.
NIT published a story in December of 2010 about Meggan Alexander and her husband David, who were in legal trouble due to a mortgage on a home located at 919 North Adams (pictured). Meggan had submitted her side of the story to NIT for publication after her guilty verdict; that story can be read here.
Meggan Alexander said at the time that after closing on their “dream home” the dream ended and the “true nightmare into which the lender and realtor had lured me” began.
In the court’s opinion, it states that the loan officer that assisted the Alexanders with their home loan was Kimberly Maas, who at the time worked for Bank of America in Mason City. A Google search shows that in recent years, Maas has worked for Bank of America, Wells Fargo Bank and U.S. Bank.
Following a jury trial in 2010, Meggan Alexander was convicted of one count of knowingly making false statements in connection with a HUD loan and three counts of knowingly making false statements for the purpose of influencing a financial institution insured by the Federal Deposit Insurance Corporation (FDIC).
On May 14, 2012, the appeals court vacated the three counts of knowingly making false statements for the purpose of influencing a financial institution insured by the Federal Deposit Insurance Corporation (FDIC) but upheld the count of knowingly making false statements in connection with a loan offered for insurance by the Department of Housing and Urban Development (HUD). Read the court’s opinion here. She must still pay restitution to HUD of $113,113.68. Meggan will be resentenced at a later date because the appeals court found that the district court relied on an incorrect sentencing guidelines range.
Meggan, according to her family, has been in a minimum security “satellite camp” in Greenville, Illinois since July of 2011, serving her sentence on the four counts she was convicted of. She left behind her daughter and husband David to serve her sentence. Due to the fact that Meggan’s name was on the loan as the main applicant, she received the brunt of the prosecution in the case.
More on this developing story at a later date.
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Godspeed,Meggan & David!
<3 Suzi & Eric
FROM NIT STAFF: Can’t allow this kind of comment. Please keep comments civil and on-topic. Thank you.
Ok keeping it civil… if you read the reason she is being let out you will realize that she was not let out because she is innocent only because of a prosecution mistake. As an adult, it is your responsibility to not lie when signigng papers. If you lose your job….here is an idea….get another one. And talk about having kid…set a good example
FROM NIT STAFF: Please keep comments on topic and civil. Thank you.
AGREED goes to ones character
These people may not be entirely at fault but they are not innocent either. You bought the house and you had every right to have someone of your choosing go through it. As far as the banks and lenders go if anyone is working on commision they will pressure sales you and any adult would understand this.
The only reason that house had any mold (if it really did) is because those owners put it there. That house was a beautiful house until those people moved in and turned it into a dump, then wrecked it completely and tried to get insurance to pay for it. Good on law enforcement for catching this fraud. These people “bought” this house with no jobs and HUD money. If they hadn’t been caught taxpayers would be footing the bill. That woman is in jail for all the right reasons.
did we put the termites, powder post beetles, and carpenter ants there too. and no the house was a piece of &hit covered up by cosmetics and faulty inspections why do you people talk about things you dont know you cowards
@ FYI- does it really matter to YOU what happened or didn’t happen? I think they are paying for what happened, no matter who is at fault. I think most people know that bank lenders really don’t care they just want to make that sale. SO really, whatever happened happened. Now this man has lost his wife for the time being, and a child their mother. Not to mention they had to relocate to a different house & the woman is in prison.Plus she has to pay restitution. Don’t you think that’s enough to deal with beside someone who is not even involved trying to point the finger? & who cares if he is at the bar. Everyone needs to relax. Grow up & find better things to do than to call someone out on the internet. Ugh.
Obviously your not putting your name on here either and doing what I’m doing calling you out on it. I don’t really care. Sucks what has happened to this family I agree…
I almost bought this house, would have too but for the hideous eyesore to the north of it.
Most of the people on here don’t put there names on her because they can…just say I’m a very observant bar tender…..
are you also a banker?
I don’t believe she was all at fault but wasn’t innocent either.. her and her husband new EXACTLY what they were doing..
May not have thought it would lead them to this.
we new what we were doing? and you know this how? were you there? and if you are so sure of yourself why hide behind a false name? We had no idea what they had done and even when we started to figure it out. We had no idea how far they had taken it. My wife is sitting in a prison away from her kid for what they did!!!!!!!
I’m not saying that they had not a part to blame but if your wife lost her job in February, why go threw with buying a house that you clearly couldn’t afford in the first place? There is always a risk for a lawsuit bu t the risk in that is less risky than what happened to your wife. Writing a letter to the bank to stop foreclosure and saying she lost her job in June is false documentation on her part since she stopped working in February? (As court documents claim) oh yeah ..Mr Alexander …how are you doing since your wife has been gone? Been at the bars lately?
yep I was there the other night and the letter was a mis interpreted funny I dont have a problem showing who I am, but if you want I can give you my number and we can talk about it or do you want to throw things out in the dark and act like they are suppose to mean something like about the bar Im a grown man I can be in one of those. we can meet at one and have a beer together just let me know who you are I’ll buy oh and we went through with the signing casue we were told that if we didnt we would have to pay that money anyway in a lawsuit we didnt know the law at the time and I had a good friend that worked for century 21 called that person up told them the story and got the same answer so we thought we were stuck. thats why we closed again would you like to get a drink and talk about you got opinions lets talk about them
oh yeah and the documents and the counts you are talking about got over turned she is not guilty of those so the “letter” means SHIT sorry do you have another arguments lol
Too bad she has already spend a year away from her little daughter…We can’t wait to see you again pretty soon, Meggan!!
I think what we have to rember is the loan officer etc were not on trial. The court upheld 1 count as what you sign is a legel document bound to be truthful. Regardless if the professionals tell you it ok to sign with not accurate info in the paper work, it is your name on the document saying it is. And if the informationis not accurate it is the person or persons who sign the paper work that the system holds accountable. That is why they say never sign anything with out reading it yourself.
no the law states and (I would know I was there in the court room) “knowingly make a false statement” so before you make statements about something make sure you know the facts.
This story reminds me of the piece of garbage home Design Homes Inc sold to the people in Rockwell(as you enter the town). MOLD MOLD MOLD.
Design Homes is a joke!
This judge must be a quack to think that they are the ones who did this fraudulently. There was an inspection that goes to the bank after it is done. Charges need to be brought against the mortgage officer as well as whomever did the inspections.
None of this would have happened if mortgage loan officers were not allowed a commission to make a mortgage loan.
There are so many corrupt mortgage loan officers that will do/say/ignore anything to get the mortgage loan approved to they can get their fat commission check!
Exactly, why isn’t the loan officer serving time?
Matt,
Your link to the courts opinion don’t get you there. Would love to read it as I have some limited knowledge about this case.
Sorry about that… the link works now.
How sad. This just goes to show how messed up the court system is. Drug dealers and murderers are out and about while this wife and mother is serving a sentence, a sentence for counts that are now being thrown out.