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Mortgage fraud. Mortgage fraud refers to an intentional misstatement, misrepresentation, or omission of information relied upon by an underwriter or lender to fund, purchase, or insure a loan secured by real property. Criminal offenses may be prosecuted in either federal or state court, and are typically charged under wire fraud, bank fraud ...
Making false statements (18 U.S.C. § 1001) is the common name for the United States federal process crime laid out in Section 1001 of Title 18 of the United States Code, which generally prohibits knowingly and willfully making false or fraudulent statements, or concealing information, in "any matter within the jurisdiction" of the federal government of the United States, even by merely ...
Predatory lending is the practice of overcharging a borrower for rates and fees, average fee should be 1%, these lenders were charging borrowers over 5%. [19] Consumers without challenged credit loans should be underwritten with prime lenders. In 2004, 69% of borrowers were from subprime lending.
Mail fraud was first defined in the United States in 1872. 18 U.S.C. § 1341 provides: Whoever, having devised or intending to devise any scheme or artifice to defraud, or for obtaining money or property by means of false or fraudulent pretenses, representations, or promises, or to sell, dispose of, loan, exchange, alter, give away, distribute, supply, or furnish or procure for unlawful use ...
A breakthrough in alleged real estate fraud case against the ‘King of Coconut Grove’. Linda Robertson. December 30, 2023 at 10:24 AM. When Phillip Sylvester first met Doug Cox and Nicole Pearl ...
Fraud, or at least charges of fraud, just keep on coming in the mortgage and real estate world, leaving homebuyers wondering where the oversight is. The criminal courts are getting busier, hearing ...
A Morgan County real estate agent has been federally indicted on charges of fraud and money laundering after he got nearly $170,000 in bank loans under false pretenses so that he could pay back ...
Real estate tycoon Truong My Lan, who was sentenced to death Thursday by a court in Ho Chi Minh city for orchestrating the country’s largest ever financial fraud case, was one of Vietnam's most ...