MORTGAGE FRAUD: Top Broker Convicted
He was once considered one of the most respected mortgage brokers in the state. Now, the former president of the Iowa Association of Mortgage Brokers is also a convicted felon.
Forty-two year old Paul Kramer was convicted of 18-mortgage charges for taking part in a multi-million dollar scheme that could have left a dozen Iowans in foreclosure.
Iowans like Mohamed Kheem who moved to America to get his family away from the dangers of Iraq. Kheem worked hard and saved up for a down payment on a home in West Des Moines, only to have Kramer steal the money.
Kheem and his family spent three years and thousands of dollars fighting foreclosure because of Kramer. Still, Kheem feels nothing but pity for him. “It does not make me happy by any way.” Kheem explains, ”It does not make his family happy. It does not make his kids (Happy). So that’s what’s hurting me. I do not hate him.”
Kramer faces up to 30-years in prison and a one million dollar fine for each of the 18-counts for which he was convicted. He’ll be sentenced in march.