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VISIT US ONLINE @ DSNEWS.COM According to the facts mentioned in his plea agreement, beginning in May 2009, Williams told executives and officers of Orion Bank to provide financing for a stock purchase, the result of which was a $15 million infusion into Orion Bancorp. The capital infusion made it appear to regulators that the bank's capital position had improved significantly. To secure the capital infusion, Williams told bank executives to increase the amount of loans-in-process to straw borrowers to $82 million on behalf of Francesco Mileto. Williams directed the increase in loan earnings to provide and conceal $15 million for Mileto's purchase of Orion Bancorp stock even though laws prohibited the bank from financing the purchase of its own stock. Mileto provided fraudulent financial documents to Orion Bank, reporting millions of dollars of annual income from an Italian family trust. When top Orion Bank executives discovered that Mileto had submitted fraudulent documents to support the June 2009 loans, Williams had the loans close to secure the capital infusion to the bank. Williams was the only Orion Bank employee who had the authority to approve loans more than $2 million for submission to the Orion Bank Board of Directors Loan Committee. The investigation revealed that Williams caused Orion Bank executive VP Thomas Hebble to present loan packages for approval to the Orion Bank Board Loan Committee, despite knowing that the loan packages contained false and misleading information. After SVP Angel Guerzon signed the fraudulent loans on behalf of Orion Bank, Williams lied to regulators about the source of the funds, categorizing the stock purchase as new capital even though $15 million of the capital raised was financed by the bank. When questioned about the transactions by state and federal examiners, Williams and other bank executives provided false documentation to examiners. STAT INSIGHT 8.2% Annual increase in median price of Florida's existing homes in June. Source: Florida Realtors Mileto, Hebble, and Guerzon were charged separately for their roles. Mileto was sentenced to five and-a-half years in prison, Hebble was sentenced to two and-a-half years, and Guerzon was sentenced to two years in prison. The estimated cost of the bank's failure to the FDIC's insurance fund is $884 million. Nationwide Title Clearing Joins Tampa Bay MBA The Mortgage Bankers Association (MBA) of Tampa Bay has a new member in Nationwide Title Clearing (NTC). The MBA, headquartered in Washington, D.C., is a national association that represents the real estate finance industry. A member of the national association since 1995, NTC joined the Tampa Bay chapter in order to better serve the region where the company is located. NTC said in a release that the association "provides a gathering place for the sharing of ideas, acts as the industry's voice on legislative and regulatory issues, and develops open and fair standards and practices for the industry." "The MBA reflects the goals and objectives that NTC believes in, so it is a natural fit to join the association's Tampa Bay chapter in order to contribute and make a positive influence locally," said NTC CEO John Hillman. "We are committed to being an asset in the communities that we serve, especially since we are in an industry that impacts people who are striving to achieve and maintain the American dream of owning a home. Being part of the MBA's local chapter helps with this mission." Joining the Tampa Bay MBA is another step NTC has taken to increase its active role in the regional community. Earlier in June, the company announced it joined the Clearwater Regional Chamber of Commerce as a Corporate Gold Member. "We are based in Palm Harbor just 10 miles north of Clearwater and look forward to expanding our involvement in the community by taking an active role in the Clearwater Regional Chamber of Commerce," said Hillman. "NTC is a company that has an active role in bolstering the entire Tampa Bay region, so we are excited to be a part of this group." Headquartered in Palm Harbor, Florida, NTC is a national post-closing services provider for the residential mortgage industry. InCharge Partners with NeighborhoodLIFT in Orlando InCharge Debt Solutions teamed up with Wells Fargo, the city of Orlando, and Neighborworks America on a program that will provide down payment assistance grants of up to $15,000 to qualified Orlando homebuyers. Orlando mayor Buddy Dyer, InCharge president Etta Money, and Wells Fargo regional president for Central Florida Larisa Perry unveiled the NeighborhoodLIFT initiative at a press conference at Orlando City Hall on June 21. The program is part of a summer-long effort to bring NeighborhoodLIFT to some of the biggest cities in Florida, one of the states most impacted in the housing downturn. Under the program, Wells Fargo is committing $7 million in grants and program funds for Orlando. This funding became available at a two-day event on July 13-14 at the Orange County Convention Center. In addition to gaining access to financial assistance, prospective homebuyers were able to take advantage of education sessions provided by InCharge at the July event. Sessions covered the homebuying process and ways to manage homeownership costs, and were designed to help potential buyers understand what lenders are looking for and how much home they can afford. "We are pleased to partner in this important effort by providing financial literacy education to those who qualify for this innovative program," InCharge's Money said. "It is not enough simply to get approved for a mortgage, homeowners need to have a good handle on their finances and be disciplined in saving for unexpected emergencies. Our educational programs will help these homebuyers gain a better understanding of the financial aspects of homeownership." InCharge Debt Solutions is an Orlandobased company that offers debt, credit, housing, and bankruptcy counseling, as well as finance education workshops. Low Prices, Weak Dollar Propel Foreign Buying The combination of low housing prices and the comparative weakness of the dollar continue to push foreign buyers to the United States. 85

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