Injustice for All

Posted Posted in Common mistakes

The following is based on a true story and, for a blog, may be a little long, but mortgage professionals need to be aware of what some prosecutors are doing with respect to the past subprime industry and prosecuting stated income/stated asset loans that have gone into foreclosure. The actual names of both the lenders […]

3 Customers We Help When It Comes To Mortgage Fraud

Posted Posted in Mortgage Broker Compliance, Mortgage Fraud Expert Witness

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 […]

4 Clients We Can Help

Posted Posted in Mortgage Broker Compliance, Mortgage Fraud Expert Witness, New Guidelines, Tips and Tricks

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 […]

What is a Stated Loan and How Is Fraud Dangerous

Posted Leave a commentPosted in Mortgage Broker Compliance, Mortgage Fraud Expert Witness

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 […]

Why an Expert Witness Will Help Your Mortgage Fraud Case

Posted Posted in Mortgage Broker Compliance, Mortgage Fraud Expert Witness

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 […]

How We Help Those Who Originated a Stated Income Loan

Posted Posted in Common mistakes, Mortgage Broker Compliance, New Guidelines

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 […]