Florida Mortgage Fraud Attorney, Florida Mortgage Fraud Defense Lawyer
Florida Mortgage Fraud Defense Attorney
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.
Tampa Federal Criminal Defense Attorneys, Tampa Federal Criminal Defense Lawyer