TIMMONSVILLE, SC (WMBF) After an FBI investigation, a Timmonsville woman has been convicted of lying on real estate documents to allow a borrower to qualify for a mortgage loan.
According to United States Attorney Bill Nettles, Nancy Peterson Kennedy was found guilty on one count of falsifying loan applications after a three day trial in Florence.
The charge stems from the sale of real estate in which Kennedy, according to evidence presented in court, intentionally inflated the dollar amount written on the borrower's Uniform Residential Loan Application.
It was proposed that Kennedy made this false claim for the borrower to be able to qualify for a mortgage loan. Kennedy also prepared an appraisal for the property which was to be financed.
The appraisal included pictures of a home which was said to be on the property. The pictures, however, were actually of homes located elsewhere. The property which was financed by the lender was in fact a vacant lot.
Kennedy sent the falsified loan application and appraisal to the lender which then financed the loan. Evidence revealed that she had done this on several other occasions.
Kennedy now faces a maximum sentence of a $1M fine and/or 30 years in jail. Her sentencing date has not yet been set.