Crime - Sacto 911

Woodland man pleads guilty to role in mortgage fraud conspiracy

A loan officer for a Sacramento-based real estate and mortgage lending company pleaded guilty Monday to concealing a mortgage fraud conspiracy.

Christian Parada-Renteria, 40, of Woodland pleaded guilty to one count of concealing a widespread conspiracy to commit wire fraud and one count of concealing a mail fraud transaction in connection with a mortgage fraud scheme, according to a U.S. Attorney’s Office news release.

Court documents describe Parada-Renteria as a loan officer at Delta Homes and Lending Inc. The firm opened an office in 2003 and eventually had five offices in Sacramento and Woodland.

Between October 2004 and May 2007, Delta Homes’ founder and president Moctezuma Tovar, 46, along with other real estate agents, loan officers and loan processors engaged in a mortgage fraud conspiracy, federal authorities said. Parada-Renteria was accused of assisting the conspirators with loan applications that contained lies, including false statements regarding borrowers’ incomes, employments, rent history and credit ratings. Authorities said Parada-Renteria took steps to make sure lenders did not question the loan applications and supporting documentation provided by Delta Homes.

According to the plea agreement, in August or September 2006 Parada-Renteria handled the loan file for purchase of a Citrus Heights property who did not have sufficient funds to secure the loan. Parada-Renteria concealed the fraudulent $6,000 loan a co-conspirator made to inflate the borrower’s bank account. Once the loan closed, Parada-Renteria took the repayment from the borrower and reimbursed the co-conspirator from his own bank account, authorities said.

The aggregate sales price of the homes involved in the conspiracy exceeded $10 million, and as a result of the conspiracy, mortgage lenders and others suffered losses of at least $4 million, authorities said.

Parada-Renteria is to be sentenced by Senior U.S. District Judge William B. Shubb on June 6, along with co-defendants Tovar and Manuel Herrera, 36, both of Sacramento, Sandra Hermosillo, 53, of Woodland, and Jun Michael Dirain, 43, of Antelope, who previously pleaded guilty.

Co-defendants Jaime Mayorga, 36, and Ruben Rodriguez, 38, both of Sacramento, have a trial date of April 5.

Cathy Locke: 916-321-5287, @lockecathy

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