With the year 2014 upon us there are over 2000 pages of new mortgage rules that will continue to change the industry as the Consumer Financial Protection Bureau makes its presence felt. For many Mortgage Brokers critical decisions will have to be made as to education, cost of compliance and the ongoing business model. There […]
A mortgage fraud and compliance expert can be a very valuable asset. Mortgage Brokers work with fraud and compliance experts to make sure they are in compliance with all current rules and regulations. Lawyers and regulators frequently consult with these experts in mortgage fraud cases to not only illuminate the facts, but also to explain what these […]
Mortgage fraud occurs whenever a borrower, Mortgage Broker, Loan Officer or other involved party misrepresent any of the facts with respect to the application process. The point of misrepresenting information is to allow the borrower to illegally qualify for a home loan or, if a Mortgage Broke/Loan Officer, to earn a commission using fraudulent information. In many cases all parties to […]
Mortgage borrowing is a complex procedure and the process is susceptible to mortgage fraud for a variety of reasons. Mortgage fraud can significantly damage all those involved in the process including the lenders, borrowers, mortgage brokers, loan officers, appraisers, credit repositories and attorneys. Regulators are swamped with investigations of mortgage fraud dating back as much […]
If you have ever originated a stated loan as a loan officer or a mortgage broker, you stand at a huge personal and professional risk. Even if you are innocent and the mortgage fraud was not your intent you run the risk of prosecution and significant prison time. Moreover, you may have to pay millions of dollars in fines and restitution. These consequences can […]
Mortgage fraud has become more common since the real estate bubble despite a mountain of new regulations. In a mortgage fraud case lawyers alone frequently do not have all the necessary knowledge and information with respect to the mortgage industry. They need support to deal with the complex mortgage market and their best option is to hire […]
Mortgage brokers and loan officers are at great risk of prosecution due to originated stated income loan products. Even if they originated a prime stated loan there is a risk that they may face jail time or a large fine, frequently even both. Necessary precautions have to be taken to ensure that you are protected in case you are questioned […]
Does your law firm need to secure an expert witness testimony for use in a mortgage fraud trial? Mortgage Defense has the experience of over 30 years in the mortgage industry that includes providing expert opinions, both written and oral, on a variety of issues in mortgage fraud trials. Factual Evidence Finding factual evidence is one of the primary goals for all […]
Mortgage regulators are endlessly increasing their time and energy on regulating mortgage brokers. There are constant changes that need to be made in order to stay compliant. One of our main focuses, here at Mortgage Defense, is to help mortgage brokers with the most effective advice up to date quality information on a cost effective […]