Mortgage fraud is the act of intentionally falsifying information on a mortgage loan by misrepresenting a borrower’s ability to pay back a loan. Mortgage fraud should not be confused with predatory mortgage lending, though the two illegal practices often occur together. This criminal behavior receives the attention of prosecutors because it can damage homeowners, businesses and the economy.
In a high stakes housing market, cases of mortgage fraud are on the rise. Fines up to millions of dollars accompanied by months or years in prison await perpetrators of mortgage fraud. If you have been accused of falsifying borrower or lender information in any capacity within the Dallas/Fort Worth metroplex, Justin Sparks is an expert mortgage fraud lawyer who can and will defend you.
What Is Considered Mortgage Fraud?
The law recognizes many types of mortgage fraud involving both the lender and/or the borrower in a mortgage loan application.
The most commonly recognized forms of mortgage fraud include:
Fraud for Profit
Failure to disclose liabilities
Fraud for housing
These are very serious charges and are not to be taken lightly. Omitting or falsifying information on your mortgage loan application can be met with a punishment as severe as jail time and expensive fines. If you or a loved one have been charged with mortgage fraud, you need to seek a qualified mortgage fraud attorney as soon as possible.
Texas Mortgage Fraud Task Force
The Residential Mortgage Fraud Task Force was established by the Texas Attorney General in 2007 by the passing of HB716. Texas officials heading up the task force to identify mortgage fraud perpetrators include The Texas Attorney General, Consumer Credit Commissioner, the Banking Commissioner, the Savings and Mortgage Lending Commissioner
Chances are, if you intentionally or unintentionally try to defraud the mortgage lenders, your efforts will be detected.
What To Do Under Fraud Investigation
If you are being investigated or charged with mortgage fraud, it is very important that you do not speak to anyone else that may have been involved regarding the mortgage under investigation. That person/persons may be taping your conversations, seeking to turn state’s evidence and testify against you. Your best bet is to confer with an experienced criminal defense attorney since you will be protected by the attorney-client privilege and can receive solid advice as to how to proceed.
Justin Sparks Law Firm is located in downtown Fort Worth and provides criminal defense representation to Tarrant County, Dallas, and nearby cities. Justin will analyze your situation and case details to best guide your response to an investigation and proactive actions in trial. Sometimes it is possible to cooperate with the authorities with the guidance of an attorney to avoid prosecution altogether. Other times, depending on the facts presented, it may be better to assert your rights and refuse to incriminate yourself.
Call the Sparks Law Firm for a Mortgage Fraud Attorney: (817) 334-0300
Justin Sparks has been defending clients across Fort Worth and Dallas for over ten years. Our firm helps you through the criminal process, from investigation to appeals, if need be. Free consultations for all new cases.