Wondering about Mortgage

[Kenny Cartman]

I recently came across a 2018 mortgage record involving someone getting a mortgage for $700,000; the collateral they gave were two residential properties (old manufactured homes) not worth even remotely close to that (about 60k each). 

I have the document for the mortgage and I’ve seen both properties in person, so I can confirm that the county assessments are not out of range.

What are the circumstances that would allow this type of mortgage to happen?