Kelvin Mark Skeers, who worked for loan agency ACT Mortgages, was handed a two-year good-behaviour bond and community service in the ACT Supreme Court yesterday.

Justice Malcolm Gray said he spared the Queanbeyan man jail because of his early guilty plea and his ''remorse and regret'' over his actions.

The 47-year-old pleaded guilty to one count of using a false instrument and six counts of using a false document, for setting up the seven loans using forged accountants' letters and netting $30,000 in fees for ACT Mortgages.

The loans mostly came through Pepper Home Loans which had no knowledge of the broker's activities.

While working for ACT Mortgages between 2003 and 2005, Skeers asked some of his clients to fill in application forms telling them to leave the space for their accountants' contact details blank.

Skeers would fill in the spaces himself using bogus information, then forge a letter on the purported accountants' letterhead that exaggerated the prospective borrowers' financial position, effectively turning low-doc loans into high-doc loans.

During sentencing submissions, Skeers' lawyer told Justice Gray that the broker acted out of sense of ''misplaced altruism.''

But in court yesterday, Justice Gray noted that Skeers netted himself more than $7000 in commissions with his fraudulent activity.

''I cannot overlook the benefit he obtained for himself,'' the judge said.

''Mr Skeers was in a position of responsibility whereby borrowers and lenders were relying on his integrity.''

In 2007, the Federal Court ordered Skeers to pay former client Aj Biega $32,000 in compensation after the broker falsified documents to arrange a $365,000 mortgage in 2004 for the then 20-year-old unemployed, dyslexic and homeless man.

The Consumer Law Centre says some of Skeers' practices included approaching home owners who were struggling with their mortgage repayments, arranging to refinance their homes on higher interest rates and then pocketing a fee for the transaction.