Opinion ID: 866146
Heading Depth: 2
Heading Rank: 2

Heading: The Third Street Property

Text: The Third Street property's purchase took place in June 2005. Ralph's coconspirators recruited him to find a purchaser, telling him that he could write the mortgage documents and would obtain a commission on the loan. When Ralph was unable to secure a purchaser, Levine and the seller, Robert Odimegwu, asked Ralph to buy the property himself, on the conditions that Ralph would receive a portion of the realtor commission as well as a hefty referral fee, and that Levine and Odimegwu would pay the mortgage for a year. Ralph assented, but put the property in the name of his mother-in-law, Violetha Clemendore. Clemendore agreed to assist Ralph and sign loan documents at his request, believing that her participation would help Ralph and her daughter with their real estate ventures. He prepared and submitted a mortgage loan application on Clemendore's behalf to Long Beach Mortgage. This application contained a number of false statements concerning, -4- inter alia, the purchase price, Clemendore's intent to maintain her primary residence at the property, and her monthly income. Based on the application and related paperwork, Long Beach Mortgage approved 100 percent financing for the purchase and wired loan proceeds to Lindley's account. The proceeds were transferred to Levine's account after the closing, and Levine in turn paid Ralph $60,000, as well as a loan origination commission of almost $6,000.