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Guilty plea in mortgage fraud case

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  • | 4:43 p.m. September 6, 2016
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  • Tampa Bay-Lakeland
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A Winter Haven man has plead guilty to making false statements when he applied for a mortgage nearly six years ago, according to a release from the U.S. Attorney's Office.

Stevie McDonald, 41, faces a maximum penalty of 30 years in federal prison for the crime. A sentencing hearing has not been scheduled.

In November 2007, McDonald contracted to buy a home in Port Richey and sought a mortgage to finance it from Washington Mutual Bank. As part of his application, McDonald falsely stated his income and employment, officials alleged.

The following month, Washington Mutual paid more than $35,000 to a woman who would become McDonald's wife. The money was purportedly to be used to satisfy a lien that existed on the sale property. But subsequent investigation later determined that no lien existed, authorities alleged, and Washington Mutual suffered a financial loss when McDonald defaulted on the loan.


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