BOSTON (Legal Newsline) - Attorney General Martha Coakley has agreed to a settlement with Brockton attorney Valerie Hanserd over allegations of unfair brokering practices.

In March 2007, the State filed two separate lawsuits against Hanserd. The first claimed she allegedly used false information and forged documents to obtain a loan for a client, while the other asserted she participated in a deceptive foreclosure plot.

Under the Thursday settlement, Hanserd must cease from acting as a real estate closing attorney for seven years retroactive to April 2007.

She must also pay $85,000 to foreclosure rescue scheme victims, as well as an additional $35,000 in fees and penalties to the State.

The complaint alleged Hansferd and Primary Mortgage, Inc., employee Leo Desire Sr. altered a deed from Freddie Mac by changing the purchase price of the home and the buyer information.

The complaint states Hensferd and Desire made the changes without the knowledge or consent of Freddie Mac. The original purchase price of $305,000 was changed to $475,000. Once the loan was obtained under a fraudulent name, both defendants allegedly disbursed the profits.

The second complaint alleges Hansferd and 18 other defendants conspired to mislead homeowners into selling their homes at the risk of inevitable foreclosure.

Once the homes were sold, the defendants allegedly titled themselves ownership of the property. In some cases, they sold the homes, keeping the profits from the sales, allegedly.

More News