Mortgage Broker Charged in $20 Million Mortgage Fraud Scheme

MINNEAPOLIS, MN – July 26, 2011 – (RealEstateRama) — This past Friday in federal court, an Edina mortgage broker was charged for his role in a $20 million mortgage fraud scheme that involved 57 properties. Derrick Ivan Lance, age 40, of Edina, was charged via an information with one count of conspiracy to commit wire fraud.