What is the Definition of Mortgage Fraud?

Florida Mortgage Fraud Attorney, Florida Mortgage Fraud Defense Lawyer, False Statements in Loan Applications 18 u.s.c. § 1014, False Statements 18 u.s.c. § 1001 , Tax Fraud 26 u.s.c. § 7201 et seq., Bank Fraud 18 u.s.c. § 1344 , Wire Fraud 18 u.s.c. § 1343, Mail Fraud 18 u.s.c. § 1341, Conspiracy 18 u.s.c. § 371,

Florida Mortgage Fraud Attorney, Florida Mortgage Fraud Defense Lawyer


Florida Mortgage Fraud Defense Attorney


Florida Federal Criminal Defense Attorney W.F. ”Casey” Ebsary reviewed an interesting piece on Fraud by an experienced white collar criminal defense attorney. One  attorney recently published a summary called “The Current State of Mortgage Fraud Prosecution.” The complete work can be found in Criminal Litigation, Fall 2009, Volume 10, Number 1, American Bar Association, Section of Litigation.

Mortgage Fraud? Tell Me Your Story 813-222-2220


What is the Definition of Mortgage Fraud


The writer defines Mortgage Fraud as “a material misstatement, misrepresentation, or omission relied upon by an underwriter or lender to fund, purchase, or insure a loan.” There are several fact patterns that generate state and federal criminal cases.

What are the Types of Mortgage Fraud?


  • Mortgage appraisal fraud
  • Mortgage equity skimming
  • Straw purchasing schemes
  • Mortgage occupancy fraud



United States Code Sections frequently used: 

Conspiracy 18 u.s.c. § 371
Mail Fraud 18 u.s.c. § 1341 
Wire Fraud 18 u.s.c. § 1343 
Bank Fraud 18 u.s.c. § 1344 
Tax Fraud 26 u.s.c. § 7201 et seq. 
False Statements 18 u.s.c. § 1001 
False Statements in Loan Applications 18 u.s.c. § 1014.

The FBI notes and federal criminal defense attorney Halim concurs there are some emerging trends in  prosecutions including “reverse mortgage schemes, credit enhancement schemes, builder bailout schemes, condominium conversion schemes, foreclosure rescue schemes, serial property flipping, and short sales schemes.” The FBI has now commenced “Operation Malicious Mortgage.” The feds will pursue lending fraud, foreclosure rescue schemes, and mortgage-related bankruptcy cases, the article notes.

 


Source: The Current State of Mortgage Fraud Prosecution, Criminal Litigation, Fall 2009, Volume 10, Number 1, American Bar Association, Section of Litigation.

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