Ridgefield Park NJ man pleads guilty to mortgage scam

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Fraudster pleaded guilty to using friends and family to get mortgages they didn’t qualify for, including cash mortgages, which he used to win thousands of dollars and multiple properties , the U.S. Attorney’s Office said.

Dennys Tapia, 54, of Ridgefield Park allegedly used forged documents, such as bank statements and payslips, to inflate the personal wealth of his borrowers, which he sent to at least two mortgage services, including one employed his co-defendant, Blanca Media.

Using the forged documents, Tapia mortgaged properties in Ridgefield Park, Cranford and Passaic. However, none of the loans were in Tapia’s name, the US attorney’s office said in its complaint.

Some of the loans were so-called withdrawal mortgages, a type of loan that a borrower uses to pay off a first mortgage and allows the borrower to keep what is left over from the second loan.

According to the complaint, Tapia took in tens of thousands of dollars from the cash refinance mortgages alone.

He could face up to 30 years in prison, a $1 million fine and the forfeiture of all property acquired through the scam.

Nicholas Katzban is a breaking news reporter for NorthJersey.com. To get the latest news straight to your inbox, Subscribe to our newsletter.

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Twitter: @nicholaskatzban

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