A Raleigh woman is accused of pocketing $522,000 that a mortgage-settlement company paid in 2012 to close out loans on two Wake County homes and that police said never got to the banks involved.
Kimberly Ann Oneal, 41, surrendered Wednesday at the Wake County Detention Center on two counts of obtaining more than $100,000 by false pretenses. She posted a $100,000 bond and was freed pending a court appearance Thursday.
In an arrest warrant sworn out earlier this month, Raleigh police said that North American Title Insurance Co. had a bank send Oneal $406,420.18 to settle a mortgage on a house in Holly Springs and $115, 973.55 for a mortgage on a Raleigh house.
Oneal, whose Infinite Title Service Inc. was acting a local agent for North American, was supposed to turn around and send the larger payment to Citi Mortgage and the smaller one to Wells Fargo bank.
“There is no evidence that funds were ever sent” to either mortgage-holder, an arrest warrant stated. It listed North American as the victim in the case.
The warrant stated that both cases happened between April 18 and April 30, 2012.
Oneal’s company was incorporated in 2009, the Secretary of State’s Office shows. It was dissolved in January 2014 because annual reports had not been filed for the two previous years, records show.
Oneal was charged in February 2014 with residential mortgage fraud in August of 2011. That case is pending, records show.
Oneal ran her company from her home at 3439 Archdale Drive in Raleigh and was living there when she was arrested in 2014.
When she was booked Wednesday on the latest charges, she listed her address as 12223 Fox Valley St.
In November 2012, Mortgage Services Ill, an Illinois-based mortgage broker, put Infinite Title Service on a list of settlement companies whose involvement would keep it from handling a loan.
The Holly Springs house is on Duncan’s Ridge Way, which carries a Fuquay-Varina address, police said.
The home was built in 2008, and the builder first sold it in 2010, according to Wake County property records.
The Raleigh house is on Maple Lane and was sold in 2005, the records show.
The time when the mortgage payoffs were being made was a period of high activity in the home-lending business as owners refinanced to take advantage of loan rates that plunged during the Great Recession.