Real Estate News

Mortage broker sentenced in fraud

A Homestead mortgage broker arrested after being profiled in a Miami Herald investigative series was sentenced Friday for her role in defrauding two lenders.

Yvette Gonzalez Valdes, 50, received 33 months in federal prison for conspiring to commit wire fraud after she pleaded guilty to brokering bogus loans for her son-in-law, Victor Perez, on three properties in South Miami-Dade.

Valdes admitted giving lenders JP Morgan Chase and Argent Mortgage Company false information about Perez’s employment, income and assets.

The Herald’s 2008 series “Borrowers Betrayed” found Valdes’ company, Best Choice Mortgage, had written more than 100 loans based on false and misleading financial information.

In addition to the prison sentence, Valdes was ordered to pay $386,500 in restitution and will serve three years probation following her release.