Ex-Pierce Commercial Bank VP pleads guilty to loan-fraud charges [1]
The News Tribune - John Gillie, Updated 9/19/12
A Puyallup banker whose prodigious generation of home loan applications made him one of the nation’s top mortgage loan originators during the housing bubble told a federal judge Tuesday that many of the loans were based on false information.
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Shawn Portmann, left, leaves U.S. District Court in Tacoma on Tuesday with his attorneys, Krista Bush and Robert Chadwell, after pleading guilty to loan fraud. (PETER HALEY/Staff photographer)
A Puyallup banker whose prodigious generation of home loan applications made him one of the nation’s top mortgage loan originators during the housing bubble told a federal judge Tuesday that many of the loans were based on false information.
Shawn L. Portmann, 40, pleaded guilty to two federal charges of conspiracy to submit false loan applications and submitting false statements to a financial institution to obtain a loan.
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