Merit West Mortgage: The state attorney general’s...

Merit West Mortgage: The state attorney general’s office has taken over a criminal investigation of an Orange County mortgage broker who is accused of defrauding investors of millions of dollars. Edward Greenly, who brokered private loans to homeowners as head of failed Merit West Mortgage of Orange, is suspected of failing to pass on interest payments to investors and lying about homeowners’ ability to repay on the loans. Investigators estimate that Greenly could owe as much as $3 million to investors throughout the state.