When home prices rose rapidly a few years ago mortgage fraud increased greatly. There has been a wide variety of schemes, some extremely complicated, involving multiple parties, identity theft, corporate identity theft, straw borrowers, shell companies, and industry insiders who can conceal methods and override lender controls. Contact a Federal Criminal Fraud lawyer today.
Any false statement involving a mortgage in order to profit may constitute mortgage fraud. Federal law prohibits fraud against certain financial institutions, and the FBI has investigated a vast number of cases nationwide in the past few years. The Bureau has a Financial Institution Fraud Unit working on mortgage fraud matters and bringing federal fraud charges. The following are individuals or entities that may be charged:
Loans have been made on fictitious properties. Inflated value properties have been repurchased for higher prices by associates of a “flipper”- following a few “sham sales,” the properties are foreclosed on by victim lenders.
If you suspect that you may be investigated in connection with activities such as these, contact Nishay K. Sanan, Esq. As with most investigations, you may not know about it until it has been ongoing for months. Mr. Sanan has a financial background in addition to his legal experience. His aggressive action on your case and close communication with you are the keys to his success.
Consultations are confidential and free. Call 312-692-0360.