The former managing director of residential lending and two former loan officers of a financial institution headquartered in Southfield, Michigan, pleaded guilty to participating in a years-long scheme to originate fraudulent residential-mortgage loans through the bank’s low-documentation Advantage Loan Program. According to court documents and statements made in court, YiHou Han, 39, of San Francisco, California, Hao Liang “Frank” Hu, 48, of Chino Hills, California, and Amy Lu, 33, of Brea, California, each caused the submission of fraudulent loan applications to the financial institution, referred to as Financial ... (full story)