At the heart of a mortgage fraud trial that opened Monday in San Francisco Superior Court are millions of dollars in loans that never should have been made, the lawyer for a family estate told the jury in opening statements.
U.S. Bank sued on behalf of a mortgage pool to try to recover $1 million from the estate following its sale of a property. The estate, in turn, has countersued the mortgage pool and others, claiming it shouldn’t have to pay because the loan was allegedly given under fraudulent circumstances that it wasn’t aware of.
