Mortgage fraud has escalated into one of the fastest-growing white-collar crimes in the nation. Mortgage fraud is a criminal offense and often involves fraud against mortgage lenders by mortgage brokers, real estate agents, appraisers and/or the buyers.
Mortgage fraud is a serious crime, and one punished by significant penalties. Because mortgage fraud can involve different crimes at either the state and federal level, the potential penalties associated with the crime differ widely.
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PDF Download : mortgage_fraud112006.pdf An Industry Assessment based upon Suspicious Activity Report Analysis. November 2006 Introduction. In recent years federal and state law enforcement and regulatory agencies have devoted considerable effort to the prevention, investigation and prosecution of mortgage loan fraud.
The Rise of Mortgage Fraud: How to spot common schemes Mortgage fraud is rising, with criminals devising new schemes to separate people from their money. A difficult economy has placed many people in dire straits with their mortgages.
A woman accused of mortgage fraud in Las Vegas has been indicted on additional charges. Lynn Benson was indicted by a clark county grand jury thursday on five counts of mortgage lending fraud, one.
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Occupancy fraud is a scheme used by investors to qualify for higher loan-to-value ratios and lower out-of-pocket costs on purchases, in addition to lower mortgage rates. Occupancy fraud occurs.
Definition of Mortgage fraud in the Definitions.net dictionary. Meaning of Mortgage fraud. What does Mortgage fraud mean? Information and translations of Mortgage fraud in the most comprehensive dictionary definitions resource on the web.
Mortgage fraud is committed if a person intentionally or knowingly makes a materially false or misleading written statement to obtain a mortgage loan. Examples of criminal mortgage fraud includes, but is not limited to, illegally inflating property appraisals; concealing a second mortgage from a primary lender; and concealing or stealing a.
Mortgage fraud has become more prevalent throughout the nation and especially so in Georgia, particularly the Atlanta metropolitan area. Mortgage fraud has wreaked havoc on neighborhoods, ruined individuals’ credit standing, and caused many millions of dollars of losses in Georgia.
The U.S. Department of Housing and Urban Development (HUD) Office of Inspector General (OIG) is the Department’s law enforcement arm and is responsible for investigating complaints of mortgage fraud.