Financial and Mortgage Fraud
At YLG, we understand the need for an experienced legal defence attorney when facing charges of financial or mortgage fraud or real estate fraud.
Mortgage fraud can be committed when a person or corporation knowingly provides inaccurate, false, misleading or incomplete information to a lender in order to obtain a mortgage and the funds derived from it that they might not otherwise been entitled to. This could include anything from a person or corporation claiming to having a higher income or credit position than they actually have, to making available falsified proof of identification or a falsified (usually inflated) appraisal of the property at the heart of the transaction.
Basically, there are two general categories of Mortgage Fraud: Fraud for Housing and Fraud for Profit.
In fraud for housing, a borrower may allegedly supply false or minimally inaccurate information about his or her qualification for the funds being advanced by the lender, usually a financial institution such as a bank or perhaps a private mortgage lender who may or may not be incorporated.
A mortgage fraud is occasionally described as “industry insider fraud” because it usually involves the cooperation, if not the active participation of a real estate broker, mortgage broker, appraiser or other real estate professional.