MINNEAPOLIS (WCCO) – A former Minneapolis loan officer pleaded guilty in Minneapolis Federal Court Thursday in connection with a $2.8 million mortgage fraud scheme that involved five properties.

Hannah Noel Perlich, 29, pleaded guilty to one count of bank fraud in connection with the incident. She was indicted June 21. Perlich worked previously as a loan officer for St. Joseph’s Financial and Legacy Lending.

In the plea agreement, Perlich admitted that from November 2005 to September 2006, with help from others, she fraudulently obtained mortgage loan proceeds. As part of the scheme, she obtained mortgage loans in substantially higher amounts than the purchase price of the properties involved. It was done through inflated appraisals as well as fraudulent underwriting and loan documentation.

Perlich allowed the false loan applications to be provided to potential lenders through wire transfers. She also admitted to concealing payments to herself from the loan proceeds by diverting them to buyers and co-conspirators. According to court documents, at least $350,000 in concealed payments were made.

Several co-conspirators have already been sentenced or charged in connection with the scheme. Perlich faces up to 20 years in prison for her role in the scheme.

Comments (5)
  1. Rachel says:

    We are the 99%. Banks got bailed out, people got sold out. We do not forgive. We do not forget.

    1. stubby says:

      Explain your comment. How does a dumb-a ss girl, stealing from a bank, relate to your dumb- a ss comment?

  2. Rachel says:

    @ stubby tool > think about it for a bit..if you’re smart you’ll figure it out..if not,it sucks to be you

    1. stubby says:

      So are you trying to say this is a Robin Hood kind of thing?

  3. Jackson says:

    Sad part of the whole thing is this girl is still working in the mortgage industry just going title work instead of mortgages!

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