Federal agents in Northern California arrested 18 people Wednesday on charges of defrauding banks and lenders with bogus mortgage loan applications. The losses totaled at least $10m from 2005 through 2009, said FBI spokesman Joseph Schadler. Those arrested included a mortgage broker, eight real estate agents and three former employees of financial institutions, said US Attorney Joseph Russoniello’s office in San Francisco. Schadler said the defendants are accused of misrepresenting buyers’ incomes, identities and other information to obtain or arrange loans, which later defaulted.