In United States federal courts, mortgage fraud is prosecuted as wire fraud, bank fraud, mail fraud, and money laundering, with penalties of up to thirty years’ imprisonment. As the incidence of mortgage fraud has risen over the past few years,  states have also begun to enact their own penalties for mortgage fraud.
Suspected Mortgage Fraud. FinCEN Assessment Reveals Suspected Mortgage Loan Fraud Continues to Rise. FinancialStability.gov – Information regarding the financial stability plan to restore stability to the U.S. financial system, introduced in February 2009 by Treasury Secretary Timothy.
The sinking U.S. housing market is fertile ground for mortgage fraud, the FBI warned in a new report.. FBI warns mortgage fraud is on the rise. The FBI said that mortgage fraud losses in.
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What is Homeonwer’s Insurance Fraud? Fraudulent crimes are on the rise in the U.S., the U.K. and Canada. This horrible fact is one that has accrued millions of dollars in debt for numerous corporations, financial institutions and consumers. From credit card fraud to blatant identity theft, more people are finding themselves victim to an array.
In the United States, bankruptcy fraud is a federal crime punishable by a fine of up to $250,000 and/or up to five years in prison. But even with these harsh consequences, bankruptcy fraud is not frequently prosecuted. Let’s find out more about the different types of fraud and then why the majority of people get away with it.
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A Texas building contractor who was handed a nearly 22-year sentence in absentia for his $16 million mortgage fraud scheme received additional prison time upon his return to the U.S. after fleeing.
Mortgage loan rates rose last week as yields on U.S. Treasuries rose following Fed chair Jerome Powell’s comments on cutting the federal funds rate.. Mortgage Loan Rates on the Rise Again.
Mortgage fraud risk is on the rise again, as the bad guys’ seek to capitalize on opportunities presented by an improving housing market. According to Interthinx’s quarterly mortgage fraud risk report.
How to Report Mortgage Fraud. Since the crisis and collapse in the housing market in 2007 to 2009, prosecutions of mortgage fraud are on rise. The FBI definition of mortgage fraud is "any material misstatement, misrepresentation or.