Falsifying a Loan Statement
Mortgage fraud is a broad term that can encompass many different criminal acts. A person is typically charged with this crime when they have made a material misrepresentation, misstatement, or omission in their mortgage loan application. The fraud act becomes complete when that application is submitted to an underwriter or lender who then relies on it to make a decision regarding the funding, purchasing, or insuring of a loan. If you are being accused of mortgage fraud, it is vital that you consult our firm immediately, as you may be forced to serve serious punishment in the event that you are convicted.
At Hager & Schwartz, P.A., our federal crime attorneys in Miami understand that being arrested and charged with a federal crime can be an experience that makes you feel frightened and helpless, especially if you have been charged because of a mistake. Applying for a mortgage is a complicated process, and it is entirely possible that you are now facing charges because of an unintentional error made while completing the paperwork. In representing you in your mortgage fraud case, we will work tirelessly to establish the facts behind what occurred, and ensure that your rights are fully protected during your criminal proceedings.
Types of Mortgage Fraud
While state authorities can get involved in mortgage fraud cases, a large number of them are primarily investigated and prosecuted by federal authorities, including the Financial Institution Fraud Unit of the FBI. This unit specifically targets one type of mortgage fraud, known as "fraud for profit." Fraud for profit refers to schemes that involve the false inflation of the value of a property, revolving equity, and loans based on fictitious properties. "Fraud for housing," the other common type of mortgage fraud, refers to an individual providing false information on their loan application in order to obtain the necessary funds to purchase a property.