Dorchester mortgage officer Nicole Lyder pled guilty to charges of forgery, larceny of bank credit by false pretenses, uttering a false document

Dorchester mortgage officer Nicole Lyder pled guilty in Suffolk Superior Court on Monday to multiple charges that she fraudulently secured subprime mortgages for several unqualified home buyers.Lyder, 34, pled guilty to charges of forgery, larceny of bank credit by false pretenses, uttering a false document, and making or publishing false or exaggerated statements. Following the change of plea on Monday, Suffolk Superior Court Judge Christine McEvoy sentenced Lyder to serve two years in the House of Correction.

In November 2005, Lyder engaged in fraudulent activity in order to secure subprime mortgage loans for home buyers without their knowledge. The homebuyers would not have been able to obtain the mortgages otherwise, according to the Massachusetts attorney generals office, which issued a press release on Tuesday.

Beginning in April 2006, Lyder was employed by Lehi Mortgage Services Inc. in Quincy, Mass. The attorney general’s office began an investigation into Lyder’s activities after receiving a complaint about Lyder in September 2006. The investigation focused on mortgage loans that Lyder assisted homebuyers in securing from Fremont Investment & Loan Inc. of Brea, Calif., for two properties in Dorchester, one in Randolph and one in Taunton. Investigators found that Lyder had forged business certificates which contained false information relating to the financial status of the home buyers.

Lyder then submitted those forged business certificates to Fremont Investment & Loan Inc. on behalf of the home buyers. In each of these four home purchases Lyder also exaggerated the home buyers’ financial standing on various other documents submitted to Fremont in support of the loan applications. As a result of this fraudulent activity, Lyder collected thousands of dollars in commissions.

In addition to fraudulently securing subprime mortgages, Lyder also submitted false banks statements to secure an car loan for a $63,000 Landrover that she purchased. In July 2007, Lyder altered a bank statement belonging to one of her former mortgage clients, making it appear as if it were her own bank statement.