Federal Mortgage Fraud

A Guide on Federal Mortgage Fraud Charges

Federal mortgage fraud may involve intentional omission, misrepresentation, or deception in obtaining a higher loan compared to what could be obtained from actual information. It involves defrauding an financial institution for personal gain. If you or a loved one has been charged with federal mortgage fraud, you should get the help of an experienced defense attorney who is specialized and experienced in the relevant law.

What Does a Federal Mortgage Fraud Charge Mean?

If you find out that you are being charged with federal mortgage fraud in a federal court, it is likely you  may also be facing charges related to bank fraud, wire fraud, money laundering, or other fraud types. The charges fall under the ambit of the Fraud Enforcement and Recover Act 2009 (FERA). There are many different types of situations and charges that may be placed on you.

Types of Frauds

This includes:

• The use of fraudulent supporting documentation for loan
• Taking out a silent second mortgage to cover the down payment on the first mortgage
• Flipping property
• Hiding the identity of the borrower by using a nominee
• Using stolen identity to apply for the mortgage
• Using a straw buyer along with false documentation for getting a mortgage in that buyer's name. this is usually done by an investor.
• The case of inflated appraisal where the appraiser is in collusion with the loan officer/mortgage broker

Thus, there are many different types of situations that can fall under the domain of federal mortgage fraud. It is likely multiple defendants may be charged with the crime in an underlying conspiracy, including you. So if you are facing charges of this serious federal crime, you should immediately contact a federal criminal attorney who has experience in such cases. A specialized lawyer can take the right steps to get the best possible results for you. This can mean avoiding or reducing a big prison term and/or fines. Criminal Attorney Karren Kenney from Kenney Legal Defense has over 25 years of experience and is currently taking on new clients. Contact us today to schedule a free phone consultation and quote for services.