United States Ninth Circuit

Defendant's sentence for mortgage fraud is affirmed, where: 1) in a mortgage fraud case, loss under the Sentencing Guidelines is calculated by first calculating the greater of actual or intended loss, where actual loss is the reasonably foreseeable pecuniary harm from the fraud, which will almost always be the entire value of the principal of the loan, and second, applying the "credits against loss" provision and deducting from the initial measure of loss any amount recovered or recoverable by the creditor from the sale of the collateral, whether or not the value of the collateral was foreseeable; and here, 2) the district court followed this rule in calculating the loss attributable to defendant.

Appellate Information

• Decided 03/13/2014
• Published 03/13/2014

Judges

• REINHARDT

Court

• United States Ninth Circuit

Counsel