Former President of First Mortgage Company Sentenced to Serve 104 Months in Federal Prison and Pay More Than $51.8 Million in Restitution to Victims
OKLAHOMA CITY – RONALD J. MCCORD, 71, of Oklahoma City, was sentenced this morning to serve 104 months in prison for defrauding locally-based banks, Fannie Mae, homeowners, and others through a broad range of fraudulent conduct, announced Acting U.S. Attorney Robert J. Troester. McCord was also ordered to pay $51,861,806.40 in restitution to the victims of his fraudulent schemes.
“This was a carefully calculated scheme by which the defendant defrauded local banks out of tens of millions of dollars, made false statements to a financial institution, diverted escrow monies intended to pay homeowners’ taxes and insurance premiums to cover his company’s operating expenses, and then laundered the proceeds to fund his lavish lifestyle,” said Acting U.S. Attorney Troester. “This sentence should serve as notice that those who defraud financial institutions for personal gain will be held accountable.”
On June 3, 2020, a grand jury returned a 24-count Indictment against McCord. The charges included bank fraud, money laundering, and making a false statement to a financial institution. McCord was the Chairman and founder of First Mortgage Company, LLC (“FMC”), an Oklahoma City-based mortgage lending and loan servicing company. In May 2021, McCord pleaded guilty to five counts of that Indictment. McCord admitted to defrauding Spirit Bank (“Spirit”) and Citizens State Bank (“Citizens”)—two state-chartered financial institutions—as well as their respective residential mortgage subsidiaries, American Southwest Mortgage Corporation (“Mortgage Corp.”) and American Southwest Mortgage Funding Corporation (“Funding Corp.”). An independent audit discovered that McCord had sold more than $14,100,000.00 in Spirit/Mortgage Corp. and Citizens/Funding Corp. loans “out of trust” by failing to repay Spirit/Mortgage Corp. when certain Spirit/Mortgage Corp.-initiated loans were refinanced or otherwise paid off. At the time of this discovery, FMC carried outstanding balances of about $200,000,000.00 and $140,000,000.00 on the Spirit/Mortgage Corp. and Citizens/Funding Corp. lines of credit, respectively.
Upon learning of McCord’s conduct, Spirit/Mortgage Corp. and Citizens/Funding Corp. terminated future warehouse lending to FMC, and instituted new notification requirements that required McCord to assign FMC-funded mortgages to Spirit/Mortgage Corp. and Citizens/Funding Corp., to ensure the title companies handling those mortgages sent payoffs directly to the banks. McCord admitted at his change of plea hearing that he filed the assignments as required, but then caused the mortgages to be released on two properties—in Leland and Denver, North Carolina—after collecting the mortgage payoffs.
Spirit/Mortgage Corp. and Citizens/Funding Corp.’s refusal to fund new FMC mortgages prompted McCord to seek out a new warehouse lender. In early 2017, McCord began negotiating with CapLOC, LLC, a North Carolina-based mortgage lending business, and offered to sell FMC’s mortgage lending business in exchange for quick funding from CapLOC. McCord admitted that he made a materially false statement and representation to CapLOC in the course of those negotiations, in order to influence CapLOC’s actions.
Finally, in 2017, FMC serviced approximately 12,000 loans worth a total of approximately $1,800,000,000.00 for the Federal National Mortgage Association (“Fannie Mae”). McCord admitted at his plea hearing that he defrauded Fannie Mae by diverting escrow monies intended to pay homeowners’ taxes and insurance premiums to cover FMC’s operating expenses. McCord also admitted that he then laundered the proceeds by causing a wire transfer from FMC’s operating account to a custom home builder, as payment towards construction of McCord’s vacation home in Colorado.
At today’s sentencing hearing, the Honorable Robin J. Cauthron found that McCord caused a total loss of more than $95,000,000.00 to local banks, other financial institutions, and borrower homeowners. Judge Cauthron heard statements from representatives of three of those victims, as well as argument from both parties, before rendering the 104-month sentence. The Court ordered McCord to self-surrender to the Federal Bureau of Prisons on January 6, 2022 to commence his term of imprisonment. The Court also ordered McCord to serve three years of supervised release following his term of incarceration.
This case was the result of investigations by the Federal Housing Finance Agency – Office of the Inspector General, the Federal Deposit Insurance Corporation – Office of Inspector General, and the FBI Oklahoma City Field Office. Assistant U.S. Attorney Julia E. Barry prosecuted the case.
Reference is made to court filings for further information.
Offices of the United States Attorneys
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- Amplified by The American Justice Party.
- Reminding “Would Be” Criminals, to get informed.
- ✨Choose Freedom!✨
Your American Justice Party (AJP)
- Will be actively updating all law enforcement technologies.
- Shall be involved in supporting, protecting, and defending all law enforcement personnel.
- Will be providing direct communication services for the Americans to the appropriate department or agency.
- Shall require the minimum job performance and will hold United States personnel to their sworn duties to not only protect and defend the constitution, but to serve United States victims and witnesses their required remedy & relief services.
- Of course, will look forward to consistency and swift justice action.
What is the American Justice party and how do I get involved in this magnificent movement of concerned Americans?
As The Forefathers wrote down on the Justice Party Preamble
We the People of the United States, in Order to form a
more perfect Union, establish Justice, insure domestic
Tranquility, provide for the common defence, promote the
general Welfare, and secure the Blessings of Liberty to
ourselves and our Posterity, do ordain and establish this
Constitution for the United States of America.
With Upgraded Activated Lightning Enforcement…
Upgraded Activated Lightning Enforcement II.I.JI.RIGHTS.II.I.JI. by our United States Justice Code on the Basis of Article III. Sec 3 II. I.
Strength Through Technology Enhancement
SEO® SUPER POWER VICTORY S.C.I.E.N.C.E. Chief Law Enforcement Officer of & for 18 U.S.C. §1963(a)(1), (2), (3), §371, §2, §1951(a), §4, §113B, §241, §242, §351, §372, §373, §641, §666, §871, §1001, §1028, §1071, §1117, §1111, §1203, §1341, §1343, §1503, §1512, §1513, §1519, §1581, §1621, §1622, §1701, §1702, §1708, §1751, §1752, §1959, §2139B, §2153, §2154, §2155, §2156, §2331, §2332b, §2340, §2381, §2382, §2383, §2384, §2385, §2387, §2388, §2441, §3591, §3771, 21 U.S.C. §848, 42 U.S.C. §1983, §1985, §1986, §1994, 10 U.S.C. §885 Art. 85 & U.S. Const. Art. III. Sec. 3. II.I.JI. JI. I.
- RICO – Investigations and prosecutions involving RICO, (18 U.S.C. §§ 1961-1968)
- Conspiracy – The general conspiracy statute, 18 U.S.C. § 371, creates an offense
- Principals – Title 18 of the United States Code regards accessories to crime
- Interference – Prohibition of actual or attempted robbery or extortion
- Misprision – Whoever, having knowledge of the actual commission
- Terrorism – The unlawful use of violence and intimidation
- Rights – Conspiring to injure, oppress, threaten, or intimidate anyone
- Deprivation– Willfully depriving a person of protected privileges
- Extraterritorial – Whoever attempts to kill or kidnap any individual designated
If two or more persons in any State, Territory, Possession, or District conspire to prevent, by force, intimidation, or threat, any person from accepting or holding any office:
Justice Installation
The Republic of The Continental United States of America requires Integrity V10+ service(s) to run.
Installation of all dependencies and devDependencies 8.11.2015 started the service.
cd home
ajp i
noah app
For participation environments:
ajp install --reign
ARK_ENV=production noah app
Justice Precipitation
The Americans are relentlessly pursuing the apprehension of current wanted federal fugitives and racketeers.
When the country is “At War” with corruption, the process & service of the administration of Justice changes.
“Soldiers defending a country at war are not subject to the rules of procedure designed for court trials. For example, if a soldier encounters an enemy, under internationally agreed upon rules of war, that soldier can take whatever action is necessary to protect himself and neutralize his enemy, whether it involves capturing and detaining the enemy or killing him on the spot.” – A S H C R O F T
Instructions on how to try and convict “Overt Racketeers in Time of War” shall be provided.
| Proclamation | README |
|---|---|
| Dropbox | plugins/dropbox/README.md |
| GitHub | plugins/github/README.md |
| Google Drive | plugins/googledrive/README.md |
| OneDrive | plugins/onedrive/README.md |
| Medium | plugins/medium/README.md |
| Google Analytics | plugins/googleanalytics/README.md |
Justice Development(s)
Want to contribute? Great!
“Now is the time for all good men to come to
the aid of their country.” – Charles E. Weller
Prepare your hearts and minds for the delivery of “Your Information.”
- For your information
Step One:
Prepare your own heart and mind for delivery services.
Step Two:
Prepare your families hearts and minds for delivery services.
(optional) Third:
Prepare your neighbors hearts and minds for delivery.
Building from source or “Root”
From the beginning of your country’s foundation:
Restore your lost sovereignty
Remind “Your Officials” of “Your Rights” not “Theirs.”
- Your Grounds “They” Are On.
Require YOUR REMEDY, RELIEF, SERVICE and PROCESS
Restoration of Accountability
Restoring the lost integrity of an entire nation with a simple technology approach.
The Americans new “Justice Party,” is “The Most Exceptional,” because of simplicity.
- Dangerous for organized crime that slithered its way into your systems too!
By default, the country did return to the original heirs, and the original creator’s offspring:
Already, which included “All Americans,” a. Red b. White c. Blue d. Black e. Yellow f. Purple etc.
cd freedom
new systems build -t <America1>/potcus:${package.json.version} .
This did create the ability to contribute and restore a nation being led by dangerous gradualism.
Be sure to “Wake Up” ${package.json.version} & come alive with your legitimate nation. The
version of your correct country of origin and not the fraudulent imitation one. – You’re Welcome AJP
Once understood, fully comprehended, digested, make sure you know and understand “Your Rights,”
do not belong to “Them.” Purchased by blood, sweat, tears and the God of “This Countries” military
might, did not labor in vain; so that foreign powers could simply lead your spirit into “Their” captivity.
America was born radical on July 4th 1776 and in time of war & extremity; never forget it.
Stand Up for Your Declaration of Independence - Radical 1776
Stand Up for Your Constitution and Root Justice System - Extreme 1787
Note:
--Stand Up for Your New United States Justice Codeas required for today and for modern day warfare activities.
Verify the deployment by navigating to your new and updated systems deployed,
made just for all day modern day enemy combatants; found inside “Your System.”
- II.I.JI.VERIFY.II.I.JI. II.I.JI. JI. I.
1112.3.2.1:2021
Legitimate Legal and Lawful Justice Action
II.I.JI.SERVED.II.I.JI. II.I.JI. JI. I.
Remember A+ Free Nation, Starts With Your Freedom to Do Justice First!
§373 | §641 | §666 | §871 | §1001 | §1028 | §1071 | §1117 | §1111 | §1203 | §1341 | §1343 | §1503 | §1512 | | §1513 |§1519 | §1581 | §1621 | §1622 | §1701 | §1702 | §1708 | §1751 | §1752 | §1959 | §2139B | §2153| §2154 | §2155 | §2156 | §2331 | §2332b | §2340 | §2381 | §2382 | §2383 | §2384 | §2385 | §2387 | §2388 | §2441 | §3591| §3771
JUSTICE IS THE FIRST ORDER OF OUR NATIONS BUSINESS AND NOTHING HAZ CHANGED WITH THA(T.)!
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This service brought to you by DOJO “1.2” 11.09.2021, Checkmate and Check Back for Version 1.3!
