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LOs Ovist convicted of submitting fraudulent mortgage loan applications

LO’s Ovist convicted of submitting fraudulent mortgage loan applications

David Ovist, 45, of Lake Oswego was convicted Friday in federal court of the crimes of bank fraud and wire fraud following a 10-day jury trial.

Ovist is scheduled to appear before U.S. District Court Judge Anna J. Brown on May 7 for sentencing.

Ovist was a licensed mortgage loan broker and the owner of Oregon Mortgage Services Inc. of Beaverton. The federal indictment charged that Ovist, acting as a residential mortgage loan broker, knowingly prepared, on behalf of eight borrowers, residential loan applications related to 15 different properties that falsified the borrower’s financial qualifications. Ovist allegedly then submitted the applications to eight different mortgage lenders with the intent that the lenders would approve mortgage loans for those properties based on the false financial qualifications provided in the loan applications. A jury convicted Ovist on 12 of the 15 counts in the indictment.

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