(Source: presstelegram.com) A Lakewood woman has been found guilty of real estate fraud, causing $662,000 in losses to lenders.

Felicia Muhammad, 45, was convicted on five felony counts for lying to banks that funded mortgages for three properties that later went into default, the U.S. Attorney’s Office said in a statement. At the time of the fraud, she was a licensed real estate broker living in Long Beach.

Muhammad was convicted Friday afternoon of making false statements to federally-insured financial institutions: U.S. Bank, Countrywide Bank and First Horizon Home Loans — a subsidiary of First Tennessee Bank, the U.S. Attorney’s Office said. She is scheduled to be sentenced June 6 and faces a statutory maximum sentence of 10 years in federal prison.

“This defendant lied to three different financial institutions, causing significant losses to all of them,” said U.S. Attorney Eileen M. Decker, in a statement. “The Department of Justice will continue to hold accountable those who would commit mortgage fraud and place...