Predatory Lending & Mortgage Fraud
Mortgage Fraud can be committed by buyers or lenders, this post contains two videos; the first on a lender's role in fraud, and the second from the FBI regarding buyer's role in fraud. Mortgage fraud perpetrated by a lender can occur on an initial loan or during a loan modification or refinance.
Mortgage loan fraud occurs when false statements are made to qualify for a loan. A number of fraudulent practices can get real estate licensees in trouble. False statements include bogus earnest money deposits (double contracts or hidden contracts).
Don't be a Victim; Read my business partner's post on "March is Mortgage Fraud Prevention Month".
A second, undisclosed mortgage can be involved. For…