Mortgage Defense specializes in being an expert witness in mortgage fraud cases.
You would probably have to be living underground not to be aware that the Consumer Financial Protection Bureau has launched a new website called “rate checker” for mortgage borrowers. On the surface, this appears to be a great aid for consumers, but there are some major problems with the site. The rates that are published […]
Loan Officers Disappearing Since the financial meltdown, many changes have come to the mortgage business as everyone deals with a much higher degree of regulation, compliance, origination cost and a multitude of competitive factors. However, an item that doesn’t get too much attention is the ageing of the industry’s mortgage loan officers. The facts show […]
In recent years, the need for a mortgage fraud expert witness testimony has increased significantly. The need for an expert witness in mortgage fraud cases has become very apparent, as there are many types, levels and details of mortgage fraud that need to be accounted for that attorneys are not entirely familiar with. Mortgage Defense […]
If you have found yourself being questioned about, or indicted for, mortgage fraud, you are being challenged with one of the most important decisions of your life regarding who you should hire. How do you know the individual you are considering is, in fact, the right attorney for your situation? It is very important that you execute your […]
The Consumer Financial Protection Bureau (CFPB) has now launched itself into the world of mortgage brokers, both pure brokers and correspondents. Three distinct problems are surfacing that are somewhat surprising given the compliance environment in which the industry operates. It is evident what the CFPB is encountering is consistent with what state regulators are also […]
Past Stated Income/Stated Asset Loans – The Continuing Menace to Loan Officers Many of you have read an older published document I authored called “Stated Loans the Silent Killer”. Unfortunately nearly 2 ½ years after that article was published the situation has escalated into countless cases across the country. You can find that article on […]
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 […]