Rick Shumway brokered mortgages for mobile homes. He rarely, if ever, met his customers. Few of his victims even remember his name.

Rick Shumway brokered mortgages for mobile homes. He rarely, if ever, met his customers. Few of his victims even remember his name.
Shumway got his customers to borrow more than they needed, then skimmed money off the top of their mortgages and put it in his pocket, federal prosecutors said. The tally of his handiwork: 200 people were taken for more than $900,000, prosecutors say. Shumway also owes a bank more than $500,000. But the fallout is more than that. More than 100 of his loans went through National City Mortgage in Ohio, a division of National City Bank, 163-year-old bank decimated by the subprime mortgage mess. Its stock went from $38 to less than $2 in 2007 before it was sold. Fannie Mae the Federal National Mortgage Association, part of the multibillion-dollar federal bailout backed some of those loans, according to Shumway. Other loans were with Accredited Home Lenders Inc., a California bank that went belly-up when the subprime bubble burst.
Most of the people who borrowed from Shumway had shaky credit, and they knew it. They had bankruptcies and credit card problems. They were so happy to get a mortgage that they never looked at the fees or the amount they borrowed. They didn't question why buying a doublewide with a sticker price of $60,000 left them with a mortgage of twice that amount. They are factory workers, nurses and back office staff. They worked hard when there was work.