Mortgage and Loan Fraud

The real estate and foreclosure crisis arose in part because of relaxed lending standards and practices. Lending may have contributed to the crisis, but that doesn’t mean you’re automatically guilty of a crime just because you happen to make your living in the mortgage business.

In this political and economic climate, the old adage that you are innocent till proven guilty is as important as ever – especially considering the growing demand that authorities right wrongs when it comes to home foreclosure and related problems.

Contact an experienced criminal defense attorney at James E. Crawford, Jr. & Associates to discuss your case. Call 443-709-9999 for a free consultation today.

Types of Mortgage Fraud in Maryland

The attorneys at James E. Crawford, Jr. & Associates defend clients against the full range of accusations involving mortgage fraud, including:

  • Fraudulent loan origination, both residential and commercial
  • Foreclosure rescue schemes
  • Builder bailout/condo conversion schemes
  • Equity skimming schemes
  • Fraud involving short sales
  • Scams involving home equity lines of credit
  • Property flipping outside of legal bounds
  • Reverse mortgage fraud
  • Credit enhancement schemes
  • Loan modification schemes
  • Fraudulent single-family home valuations

The economic downturn and sluggish recovery has been and will continue to drive state and federal authorities toward investigation and prosecution. As an FBI report says, there’s a “strong correlation between mortgage fraud and distressed real estate markets.” So there is every reason to believe that people working in the mortgage and housing markets will continue to be subject to greater scrutiny.

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Examples of Mortgage Fraud Cases Prosecuted in Maryland

Some crimes for mortgage fraud are prosecuted in state court. Mortgage fraud is a crime involving some type of material misstatement, misrepresentation, or omission on a loan which is then relied upon by a lender. One example of mortgage fraud would be a person lying on a mortgage loan. Other types of mortgage fraud include fraud for profit and fraud for housing.

Mortgage fraud for profit often involves industry insiders using their specialized knowledge or authority to commit or facilitate the fraud. Reports indicate that a high percentage of mortgage fraud involves collusion by industry insiders including loan originators,Ā mortgage brokers,Ā appraisers, bank officers, and attorneys.

Mortgage fraud for housing typically involves illegal actions conducted solely by the borrower, who is motivated to acquire and maintain ownership of a house under false pretenses such as misrepresented income and asset information on a loan application.

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Attorneys for Mortgage Fraud in Baltimore, Maryland

Allegations can involve what the FBI calls “material misrepresentations of income, assets, and occupancy.” But what is a material misrepresentation? Does it have anything to do with what actually happened?

Don’t leave your professional career, your business, or your freedom to chance. Pick up the phone and call me as soon as you believe you’re under investigation. Contact me at 443-709-9999 for a free initial consultation with an experienced white collar crime attorney in Baltimore, MD.