Today, we are honored to share with you this recommendation letter sent to us by a client. Stories like this one prove that our services can change lives for the better, and heal futures that seem broken beyond repair. We are grateful for your words, Robin, and we will continue to work day and night to […]
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 […]
By now I am sure everyone knows that compliance has become paramount and must be given a priority status by every company in the mortgage industry regardless of size. In particular this has become a major issue for Mortgage Brokers as they struggle to keep the cost of compliance down without the use of a […]
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 […]