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A straw buyer uses their identity and financial information to obtain a mortgage or purchase property for someone else. The arrangement becomes fraudulent when participants hide the true buyer or give the lender false information. Here is how a straw buyer arrangement...
A single error on a loan application can feel catastrophic when federal investigators come knocking. Not every mistake rises to the level of a crime. What separates a paperwork error from a federal charge often comes down to one word: intent. Why intent is the line...
Mortgage fraud is one of the most complex forms of fraud, and its prevalence has only increased since the housing market crashed in 2008 - scrutinizing new transactions and investigating past ones. It's important to comprehend what mortgage fraud is and what the...
Mortgage fraud is a serious crime, not only in the state of Ohio, but also throughout the country. There are federal laws in place that attempt to prevent such a crime. Despite this, there are still people who complete fraudulent mortgage applications, either...
Fraud is a federal and state crime, and participating it can leave you in hot water with the law. There are many different kinds of fraud, but one thing remains the same among all cases: You must have intended to defraud someone in order to be convicted. If you're...
Due to the housing crisis, the FBI has prioritized mortgage fraud for profit cases. Although borrowers do commit mortgage fraud to obtain housing, the bigger concern is when industry insiders use their knowledge to misuse the mortgage lending process and steal equity...
Mortgage fraud became front and center in the press about a decade ago amid the housing market crash. Federal and state law enforcement agencies and prosecutors take allegations of mortgage, escrow and bank fraud against property owners, investors and lenders...
When you hear the phrase "mortgage fraud" what comes to mind? Due to the economic downturn several years back, authorities are keeping a close watch on bank officials and real estate professionals. Anybody who is involved in a mortgage fraud scheme could be charged...
Buying a home with cash may be ideal, but this isn't something most people are able to do. Instead, they are faced with the process of applying for a mortgage. When done the right way, you can find and obtain a mortgage that allows you to purchase the home of your...
Mortgage fraud has always been a serious crime, but this is even more so the case since the economic collapse several years ago. It doesn't matter if you have a mortgage or are thinking of applying for a loan, nothing changes the fact that you need to act within...