The Financial Services Authority (FSA) has banned Barking-based mortgage broker, Tomilola Omolola Ogunmoye for knowingly submitting false and misleading information about her income to four lenders to obtain mortgages for herself.
As well as submitting fraudulent mortgage applications, the FSA said Ogunmoye failed to co-operate with the FSA by refusing to provide a sample of mortgage client files or deal with the investigators.
Ogunmoye operated as a mortgage adviser in Barking, East London and was a director of various companies, such as Excel Mortgage Limited, Excel Property Limited and Array Mortgage Solution Limited.
Margaret Cole, FSA director of enforcement and financial crime, said: "With help from some lenders, we are continuing to focus our enforcement and intelligence activity on mortgage fraud hot spots around the country, including East London.
"Our work on mortgage fraud continues as a priority in our campaign against financial crime. We have banned nearly 70 mortgage brokers over the last three years and we will continue to name and shame mortgage brokers that knowingly giving false and misleading information to prospective lenders."
Comments
I think they used Omolola for the advice as to how to get it through.
I still don't understand how MPs can have two residential mortgages at same time with renting one of them or Peter Mandelson can use borrowed money from a friend as a deposit to buy property. Is it only my clients have to show they have saved their own deposit. Are we working in a two tier system?
Peter - Mr is a she. You are misunderstanding those Welsh names again.
Regarding the story about East London mortgage broker banned. This is a recurring puzzle to me. How did FSA find out the 'true' figures that Mr Omolola had put on his SA Return? The taxman certainly didn't