Looking for a mortgage fraud lawyer? Mortgage Fraud can take many different forms from misstating facts on one’s loan application to inflating one’s income, failure to disclose one’s liabilities and appraisal fraud. There are many instances of people working together in order to create the fraud. Recently, State and Federal criminal cases have been filed based on allegations from these types of conspiracies. Some, however, have become very intricate. These crimes often involve broad conspiracies involving real estate brokers, mortgage brokers, “straw buyers” and real estate appraisers. The fraud charges can be brought either against lenders, as well as borrowers.
The FBI has formed The Financial Institution Fraud Unit. This unit of the FBI investigates all types of mortgage and real estate fraud. Specifically, the FBI has been investigating real estate and mortgage insiders for overstating values of real properties and issuing loans based on false figures, predatory lending, and misrepresentation of income, assets, and employment history in order to qualify for a loan by mortgage brokers and consumers.