On May 4, 2006 Southstar Funding filed a civil law suit against Premier Mortgage Funding, a large net branch brokerage with approximately 500 branches headquartered in Clearwater, FL.

The lawsuit alleges fraud in a number of loans that were brokered by Premier. In particular is lists 6 loans made on the following Detroit, MI properties:
9382 Cascade Street
2000 Webb Street
18245 Prairie Street
1486 Edison Street
17135 Santa Barbara
14891 Grandville Avenue

It is alleged that these loans contained misrepresented occupancy, inflated appraisals, misrepresented income, misrepresented assets and false title documents. These loans are alleged to have caused losses of at least $374,633.96

In another allegation Premier is said to have brokered a loan for the purchase of the property at 2287 Schoedinger Avenue, Cincinnati, OH. The loan application is alleged to contain “untrue and/or falsified and/or incomplete and/or omitted information and documentation concerning, without limitation, the borrower’s additional real estate obligations. This application is said to have caused losses of at least $30,000.

Click here to read the Civil Complaint.

The matter is due for a Jury Trial on October 9, 2007