Two women were sentenced to prison terms for their roles in a mortgage fraud scheme that cost mortgage lenders more than $1.3 million. According to the statements of offense signed at the plea hearings, from September 2005 to April 2008, the two women, with the assistance of others, defrauded banks and other lenders of money through false statements and misrepresentations. They used about 20 residential real estate transactions to fraudulently obtain mortgage loans of more than $7.5 million. Loan documents in support of these mortgages listed false employers and false salaries for the buyers, exaggerated the assets available to the buyers to pay back the loans and make cash contributions and incorrectly listed the buyers’ intent to occupy the houses. The appraisals misrepresented the conditions of the homes, greatly enhancing the appraised prices, and, by doing so, raising the amount of loans which the lenders were willing to extend.