What is Mortgage Fraud?

Going through the mortgage application process is grueling.? Lenders demand extensive documentation and long applications.??Mortgage fraud cases generally involve a material misstatement, misrepresentation or omissions on a mortgage application.

This normally relates to property or income that is presented to and relied upon by the lender in making a decision whether to provide the loan and to what amount.

A critical fact in mortgage fraud cases is whether the fraudulent statement is “material“.? Did the lender know about the falsehood?? Did the lender conduct a diligent review before executing its decision.