United States v. Carl Clayton Chenaur

Carl Clayton Chenaur appeals his conviction by a jury on all counts of a 22 count superseding indictment relating to (a) aiding and abetting officers of an institution having federally insured accounts who had intent to defraud their own institution, the United States, or the Federal Savings and Loan Insurance Corporation (21 counts based on 18 U.S.C. § 1006 and 18 U.S.C. § 2 ) and (b) making a false statement to a government agency (one count based on 18 U.S.C. § 1001 ).

The essential facts leading up to his indictment are as follows:

Chenaur was a mortgage banker and president of First Western Mortgage Company and Bonded Escrows, Inc. Both companies make mortgage loans to individual homeowners. In the interests of clarity, a brief explanation of terminology and practice in the mortgage loan industry is in order. Mortgage companies generally finance consumer loans by borrowing money from institutions such as banks or insurance companies. The mortgage company usually sells the mortgages as soon as they obtain them instead of holding them for an extended period and tying up their own capital. Sometimes a mortgage broker is used to find a buyer for the mortgages. Frequent mortgage…