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Dallas Mortgage Fraud Defense Attorney
Mortgage fraud refers to an extensive range of schemes and actions where individuals or companies use fraudulent information on mortgage documents for personal gain. Ultimately, a mortgage fraud scheme aims to obtain funding or monetary profit for a property that a borrower would otherwise not qualify for.
Though mortgage fraud is not classified as a specific federal charge, an individual may be charged under laws associated with wire fraud and bank fraud such as the Fraud Enforcement and Recovery Act of 2009. If more than one defendant is involved, federal conspiracy charges may be made.
Mortgage fraud typically stems from omissions, inflations, understatements, or misrepresentations in a real estate or mortgage transaction. More often than not, parties commonly accused of mortgage fraud are real estate professionals, mortgage brokers, real estate lawyers, and appraisers. In other instances, individual home buyers may also be involved in such investigations.
Federal laws associated with mortgage fraud can be confusing. If you face allegations of mortgage fraud, it is in your best interest to consult with an experienced attorney as soon as possible. Call David Finn, P.C. at (214) 871-1112 today.
Examples of Mortgage Fraud
Many activities could bring about an indictment. Common examples of mortgage fraud include:
- Creating false loan documents
- Falsely inflating a property’s value
- Property flipping
- Equity skimming
- Using straw buyers or financiers
Mortgage Fraud Penalties
An individual convicted of mortgage fraud can face severe consequences. According to the Fraud Enforcement and Recovery Act, an individual convicted of mortgage fraud can face up to $1 million in files and up to 30 years in prison. An individual convicted of other charges such as wire fraud or mail fraud may face additional penalties, such as additional fines or prison time.
Call David Finn, P.C. Today
Cases of mortgage fraud can be extremely complex since defending these cases require a great deal of investigation, document review, and examination of materials in the possession of the government. At times, specialists such as appraisers or forensic accountants may be needed.
If you or a loved one face mortgage fraud charges, it is essential to have a skilled criminal defense attorney by your side. David Finn, P.C. will fight aggressively to protect your rights, fight the allegations against you, and create the strongest defense possible. Call (214) 871-1112 today to schedule a consultation.
Office: (214) 871-1112
Cel 1: (214) 538-6629
Cel 2: (214) 738-4703 (Paralegal Kathy Archuletta)