Mortgage fraud, rampant before the housing crash in 2008, is again on the rise. Now, however, due to the Fraud Enforcement and Recovery Act (FERA), the government is armed with expanded authority to enforce mortgage fraud laws, including intensified investigation and prosecution initiatives.
The FBI, for instance, now collaborates regularly with state and local law enforcement and regulatory agencies to share intelligence and initiate joint investigations of mortgage and financial institution fraud. These joint efforts and the sharing of resources have resulted in increased investigations and arrests.
If you are the target of one of these mortgage fraud investigations or you are currently facing charges involving financial institution fraud, you need to contact an experienced federal criminal defense attorney as soon as possible. The penalties for conviction can be very harsh, including sentences of up to 30 years in federal prison and fines up to $1 million, so don’t delay!
Start protecting your rights and your freedom today by calling David Haas, a former federal prosecutor who will put his knowledge of the federal criminal justice system to work creating the strongest strategic defense possible.
Mortgage Fraud Offenses
Mortgage fraud is a type of financial institution fraud characterized by a misstatement, misrepresentation, or omission made to a lender in relation to a mortgage loan. The goal of a such an action may be to obtain a financial profit or to obtain funding for a property for which you would otherwise not qualify.
The people and companies typically accused of mortgage fraud are those who work in the real estate industry. However, individual home buyers can also be targeted in these investigations.
Some examples of actions that may constitute mortgage fraud are:
- Using information of a fake buyer to qualify for a loan and hiding the identity of the real borrower.
- Using changed or fake pay stubs, tax returns, and/or other financial documents to support false information on a mortgage loan application.
- Appraising property at an artificially high value to generate an increased profit when reselling the property.
- Using money from a second mortgage to make a down payment on a first mortgage without the lender’s knowledge.
- Not paying on a mortgage loan but making money by renting the property until foreclosure.
- Collecting fees from homeowners in danger of losing their homes to supposedly renegotiate the terms of their mortgages but either not negotiating anything or negotiating unmanageable terms.
- Obtaining a loan with invented borrowers and properties and usually no collateral.
Defending Against Mortgage Fraud Charges
If you are being investigated for mortgage fraud, you could conceivably be charged under federal laws related to bank fraud, wire fraud, conspiracy, or other areas, depending on the specific details of your case. All of these charges are very serious, so countering them with a strong defense is extremely important.
Moreover, the evidence in these federal cases is usually very complicated and extensive. Therefore, you need an experienced federal defense attorney who understands both the complex nuances of these cases and the strategies used to prosecute them.
Fight Mortgage Fraud Charges with Help from an Experienced Federal Defense Attorney
When you are facing federal criminal charges, it is important to have a criminal defense attorney with years of experience in federal court. At Haas Law, we have tried dozens and dozens of cases in federal court, always fighting aggressively for clients’ rights and freedom.
Attorney David Haas leverages his experience as a federal prosecutor to help build the strongest strategic defense possible for his clients. He will fight relentlessly to protect your rights and obtain the best possible outcome for your future.
Call us at 407-755-7675 or use the form on our website to contact us and get started on your defense.