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Big 3 Auto Bailout (2008)
Broker, loan officer plead guilty in mortgage-fraud case

A Severna Park mortgage broker pleaded guilty Friday in a mortgage fraud case that left lenders with more than $940,000 in losses, robbed homeowners of at least $1.2 million in home equity and pushed 16 homes into foreclosure, the Maryland U.S. attorney's office said. Mary Anne Dean, 60, pleaded guilty to conspiracy to commit wire fraud. Charles Donaldson, a loan officer described as her co-conspirator, pleaded guilty last week. The Maryland U.S. attorney's office said Donaldson, 57, recruited homeowners struggling with their mortgages for what he said would be a foreclosure rescue plan: They would sell their homes to investors, remain there as renters for a year or so and then...