Bankers

Low-Income Mortgage Fraud in NOLA Gets Protected With Anonymity by DOJ

HEALEY, CASTELLAW and SCHONES made false statements to the FHA in order to assist low-income borrowers in qualifying for FHA insured loans.

New Orleans Man Sentenced For Making False Statements to a Financial Institution

MAY 7, 2019| REPUBLISHED BY LIT: DEC 14, 2021

NEW ORLEANS  U.S. Attorney Peter G. Strasser announced that PATRICK HEALEY, age 34, of New Orleans, and a former employee of an undisclosed entity, ABC Homes, LLC, located in St. Bernard Parish, was sentenced May 1, 2019 for his role in making false statements to a financial institution.

According to court documents, beginning in or around October 24, 2008 and continuing to on or about May 31, 2009, HEALEY, along with co-defendants JARED CASTELLAW and VALERIE SCHONES made false statements to the Federal Housing Administration (“FHA”) in order to assist low-income borrowers in qualifying for FHA insured loans for which they would not otherwise have qualified. In total, due to the acts of the defendants, the FHA suffered a loss in excess of $852,415.

HEALEY was sentenced to time served, supervised release of 5 years, a special assessment of $100, and ordered to pay restitution in the amount of $852,415.

U.S. Attorney Strasser praised the work of the Department of Housing and Urban Development, Office of Inspector General and the Federal Bureau of Investigation. The case is being prosecuted by Assistant U.S. Attorneys Sharan E. Lieberman and Edward J. Rivera.

California Man and Arizona Woman Sentenced For Making False Statements to a Financial Institution

JUL 18, 2019| REPUBLISHED BY LIT: DEC 14, 2021

NEW ORLEANS – U.S. Attorney Peter G. Strasser announced that JARED CASTELLAW, age 34, of Alpine, California, and VALERIE SCHONES, age 54, of Tucson, Arizona, were sentenced on Wednesday, July 17, 2019 for their role in making false statements to a financial institution.

According to court documents, beginning in or around October 2008 and continuing to on or about May 2009, JARED CASTELLAW and VALERIE SCHONES, along with co-defendant Patrick Healey, made false statements to the Federal Housing Administration “FHA” in order to assist low-income borrowers in qualifying for FHA insured loans that they would not otherwise have qualified for. Healey and CASTELLAW are former employees of an undisclosed entity, ABC Homes, LLC, located in St. Bernard Parish. SCHONES worked for XYZ Financial as a loan officer. In total, due to the acts of the defendants, the FHA suffered a loss in excess of $852,415.

Both CASTELLAW and SCHONES were sentenced to time served, supervised release of 5 years, a special assessment of $100, and ordered to pay restitution in the amount of $852,415.16.

U.S. Attorney Strasser praised the work of the Department of Housing and Urban Development, Office of Inspector General and the Federal Bureau of Investigation. The case is being prosecuted by Assistant U.S. Attorneys Sharan E. Lieberman and Edward J. Rivera.

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The Affordable Homeownership Program in St. Bernard Parish was founded in late August of 2007 as a response to tightening in the credit markets.
Our program serves as means to provide homeownership to families and individuals who are currently unable to qualify for a home or do not have the down payment for a home.

Under our program in St. Bernard Parish, a renovated home can be yours in a matter of weeks and the monthly payments to own including property taxes and insurance is less than renting!

How does the program work?

Many of our customers experienced severe financial hardship due to displacement by Hurricanes Katrina and Rita in 2005. Credit problems stemming from the disaster combined with depleted savings and harsher lender credit standards have rendered the majority of prospective home buyers unable to qualify for a home loan.

February Special!
Free 42 inch Plasma TV upon closing!

Mission Statement

To help as many families as possible obtain quality and affordable homeownership.

RENOLA Homes is a privately owned and managed investment company devoted to purchasing, renovating and marketing affordable single family residences in the Greater New Orleans area.

Our Affordable Homeownership Program offers a unique option for those desiring homeownership.

The combination of price, terms and credit counseling provides permanent homeownership opportunities for the people that need it most.

We are proud of the positive and appreciative reaction of our customers and their families.

“You have been the most wonderful company we have ever dealt with. You have been very helpful and got us out of a bad situation and into our home in ten days. You have done everything possible to help us and we love you all, believe me, we love you all. I don’t want to tell my kids that we’re moving again. We’ve moved from here to Pennsylvania and back in the last three years. We’re staying put and if you ever need any help, let us know.”
Tiffany Anderson, Customer, St. Bernard Parish

“I think it’s a great program, it’s helping people from the Parish get back on their feet. RENOLA Homes is giving back to the Parish. I really appreciate it. My brother has a house from you too and he really appreciates it. Giving back to the Parish and giving people the chance to own a home who never had a chance to own a piece of land and a house is great. I think it’s a great program and a great service. I make good money but never had the chance to own a home because of my credit, medical bills. At the end of the program I get to own this home.”
Ashton Lopez, Customer, St. Bernard Parish

“It’s a great program. A lot of people want homeownership.”
Tanya Lackey, Customer, St. Bernard Parish

“Everything has been great from beginning to end. Whenever I told them that I had a problem, they came out immediately, and everything is perfectly fine the way I want it.”
Tres Hodge, Customer, St. Bernard Parish

“I feel very good about your program. I feel it helps us in a lot of ways because a lot of people wouldn’t give us a chance and you would. It is our first time buying a home. This is a great opportunity for us. I appreciate you all, believe me.”
Victoria Petty, Customer, St. Bernard Parish

“I like what you have done. I can’t complain about anything at all. I think it’s a great program.”
       Jonathon Gulban, Customer, St. Bernard Parish

“What you’re doing for me I can’t put into words. It makes what you dream about come true. A great start on life. Think about it, before the storm, you weren’t a homeowner. After the storm, you come back here, with no home… I know it’s a big help for me, and I’m telling everyone that I know about you, and they feel the same way. It gives me something to look forward to, I can say that.”
Byron Harell, Customer, St. Bernard Parish

“Owning your home is a beautiful start, especially if you have a wife and a family. And I am going to do everything I can to make this happen. This is such a beautiful thing, such a positive thing in my life. I knew one day I would own a home because I was on the right path, but I never thought this year, and I thank God for giving me the opportunity to get there, and for giving you all the insight to do this with me.”
Frederick Burns, Customer, St. Bernard Parish

Low-Income Mortgage Fraud in NOLA Gets Protected With Anonymity by DOJ
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