Two plead in mortgage scheme

NASHVILLE (AP) ‘ Two Sumner County men have pleaded guilty to a mortgage fraud scheme that resulted in more than $2.2 million in losses to lenders.
The U.S. Attorney’s office in Nashville says Miles J. Black and Jeffrey D. Hathcock entered their pleas in federal court Thursday. The trial of a third defendant, Harold Stafford, has been rescheduled for September.
The men are charged with conspiracy to commit wire fraud and bank fraud.
The scheme involved the purchase of more than 20 luxury homes in Hendersonville and Gallatin by unqualified straw buyers.
All of the mortgage loans ended in default and foreclosure that resulted in losses to mortgage lenders.
Black and Hathcock are scheduled to be sentenced in October. They each face up to 30 years in prison, a $1 million fine and supervision for up to five years.