Inman.com, CA
Hooper, 55, is a former mortgage broker who allegedly changed her name to Jerry Dale Hunter and arranged for fraudulent loans to originate through a company called American Mortgage Exchange. She is one of several people who were indicted in an alleged elaborate mortgage fraud scheme, based in Georgia, that collected about $20 million. The alleged "flipping" scheme involved the purchase of residential properties for resale at artificially inflated prices. Those involved reportedly would use fraudulent sellers and borrowers, also known as "straw sellers" and "straw borrowers" to illegally collect mortgage loan proceeds from American Mortgage Exchange, which allegedly was the source for most of the bogus loans.
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