Mortgage fraud prosecution is on the rise in New York and across the country. Lawyers, real estate brokers, title closing companies, appraisers and consumers have all been accused of committing mortgage fraud or other types of real estate fraud. A conviction can be punishable with jail time, hefty fines and can destroy your reputation, affect immigration status and processional licenses.
Mortgage fraud investigations may be spurred from a variety of circumstances. A lender may notice a discrepancy in a loan application or a federal investigator may focus on a bank with a considerable number of foreclosures on subprime mortgages. Prosecutors are also known to conduct investigations involving a significant amount of financial loss.
Several common types of mortgage fraud scenarios include: inflated appraisals or understated mortgage appraisals, mortgage applications involving straw buyers/straw borrowers, mortgage applications with false information regarding assets or income, property flipping, loans issued for fictitious properties, and foreclosure fraud.
We have extensive experience defending clients facing high-stake mortgage fraud charges. Our legal team has access to industry-leading experts, including forensic accountants.