San Diego, California News Station - KFMB Channel 8 - cbs8.comReal estate agent banned over bogus loans
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Associated Press - November 23, 2009 11:44 PM ET
SACRAMENTO, Calif. (AP) - A former Bakersfield real estate agent won't be able to work in real estate for a while after regulators banned him from the business for three years.
The California Department of Real Estate announced Monday that it has banned David Crisp from working in the industry after he induced lenders to provide millions of dollars worth of loans based on bogus information.
Department officials say Crisp made false representations to lenders in order to secure nearly $11,000,000 worth of mortgage loans.
As a result of the bogus information, officials say loans on 23 properties have gone into default
The ban against Crisp comes after the department revoked his license 2008.
Attempts to reach Crisp were unsuccessful.
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