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Mortgage fraud refers to an intentional misstatement, misrepresentation, or omission of information relied upon by an underwriter or lender to fund, purchase, or insure a loan secured by real property.
Criminal offenses may be prosecuted in either federal or state court, and are typically charged under wire fraud, bank fraud, mail fraud, or money laundering statutes, with penalties of imprisonment for up to 30 years per offense.[1] As the incidence of mortgage fraud has risen over the past few years,[2] states have also begun to enact their own penalties for mortgage fraud.[3]
Mortgage fraud is not to be confused with predatory mortgage lending, which occurs when a consumer is misled or deceived by agents of the lender. However, predatory lending practices often co-exist with mortgage fraud.
^"Archived copy" (PDF). Archived from the original (PDF) on 2008-09-09. Retrieved 2008-08-31.{{cite web}}: CS1 maint: archived copy as title (link)
^Mortgage Assets Research Institute (MARI). (2009). Eleventh Periodic Mortgage Fraud Case Report To: Mortgage Bankers Association Archived 2009-07-11 at the Wayback Machine.
^"Archived copy" (PDF). Archived from the original (PDF) on 2008-09-09. Retrieved 2008-08-31.{{cite web}}: CS1 maint: archived copy as title (link)
Mortgagefraud refers to an intentional misstatement, misrepresentation, or omission of information relied upon by an underwriter or lender to fund, purchase...
fraud and to fully disclose loan terms to both consumer and lender. Agents of mortgage brokers may refer to themselves as "loan officers". Mortgage brokers...
purpose of fraud may be monetary gain or other benefits, for example by obtaining a passport, travel document, or driver's license, or mortgagefraud, where...
her January 2022 indictment by a federal grand jury on perjury and mortgagefraud charges. The charges against Mosby stemmed from allegations that she...
Associates in which the main character traveled the country to perpetrate a mortgagefraud scheme similar to the one Cox ran. Cox falsified documents to make it...
Retrieved June 9, 2009. "FBI Cracks Down On MortgageFraud". CBS news. June 19, 2008. "FBI – MortgageFraud Takedown – Press Room – Headline Archives 06–19–08"...
fraud Mortgagefraud Taylor, Bean & Whitaker, top-10 U.S. wholesale mortgage lending firm that ceased business following multibillion-dollar fraud revelations...
Britain's biggest mortgage lender. James Crosby, head of HBOS at the time, refused to be interviewed in relation to the exposed mortgagefraud. Further examples...
Appraisal Institute Mortgagefraud Canada Mortgage and Housing Corporation ""Mortgage Professionals Canada - About Us" Main Website". Mortgage Professionals...
they never discussed the case. In June 2008, Brown filed a fraud lawsuit claiming mortgage lender Countrywide Financial engaged in "unfair and deceptive"...
in a mortgagefraud in which the bank lost $30 million. The bank alleged that straw buyers, in exchange for a cash payment, applied for mortgage loans...
mortgages and mortgage-backed securities. The mortgage servicer may be the entity that originated the mortgage, or it may have purchased the mortgage...
the fraud. In August 2011, Bank of America was sued for $10 billion by American International Group over an alleged "massive fraud" on mortgage debt...
it had bought $1 billion in mortgages from Taylor, Bean & Whitaker that Taylor Bean had forged, in one of the biggest fraud cases in history. On August...
A reverse mortgage is a mortgage loan, usually secured by a residential property, that enables the borrower to access the unencumbered value of the property...
documents on bad mortgages and then sell them to Wall Street banks looking to make fast profits. There is growing evidence that such mortgagefraud may have been...
named in a lawsuit launched by the Bank of Montreal for an alleged mortgagefraud scheme. Court documents obtained by the CBC allege Shory executed legal...
Yusuf Panchbaya of UM Financial were charged by RCMP for $4.3-million mortgagefraud, but both men were acquitted of all counts contained in the indictment...
enforcement of federal fraud laws, especially regarding financial institutions, mortgagefraud, and securities fraud or commodities fraud. Wikisource has original...
purpose of fraud may be monetary gain or other benefits, for example by obtaining a passport, travel document, or driver's license, or mortgagefraud, where...
effective January 21, 2013, after being charged with felony criminal mortgagefraud, to which Hathaway pleaded guilty on January 29, 2013, and was sentenced...
Sues Wells Fargo for Faulty Mortgages". The Wall Street Journal. "U.S. Accuses Bank of America of a 'Brazen' MortgageFraud". The New York Times. October...
2) Underestimating risks in financial engineering (e.g., CDOs); 3) Mortgagefraud and bad incentives; 4) Short-term funding decisions and corresponding...
residential mortgagefraud over $35,000 in a Dakota County court. Jacobson's wife, Traci, pleaded guilty to aiding and abetting residential mortgagefraud. Count...
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