Fred Loewinger of Fast Mortgage Pleads Guilty to 25 Felony Mortgage Fraud Offenses for Fraudulently Purchasing 20 Homes with $1.4 Million in Loans

CLEVELAND, OH – October 27, 2010 – (RealEstateRama) — County Prosecutor Bill Mason and the Cuyahoga County Mortgage Fraud Task Force operating under authorization of Ohio Attorney General Richard Cordray and Ohio’s Organized Crime Investigations Commission announced Fred Loewinger pleaded guilty to 25 felony mortgage fraud related offenses on October 27, 2010 for his participation in financing the purchase of 20 houses with $1.4 million in fraudulent loans. Loewinger, 62, of Strongsville, owned Fast Mortgage Services, Inc. and conducted his fraudulent activities as a licensed mortgage broker and loan officer. This case was investigated by the Cleveland office of the FBI in connection with their participation in the Mortgage Fraud Task Force