Mortgage Fraud Attorney
MARK A. PEREZ, ATTORNEY AT LAW
Mortgage fraud allegations put your freedom, finances, and reputation in danger. Mortgage fraud cases can be investigated under Texas law, federal law, or both. Federal authorities may get involved before charges are filed. If you have been contacted by state or federal investigators, received a subpoena, or have been criminally charged, a mortgage fraud attorney can help you understand what to expect next.
As a former Dallas County white-collar crimes prosecutor, I understand how the government builds fraud cases and can help you assess what investigators are alleging. Schedule a free consultation with me today.
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PROTECTING YOUR FUTURE AND YOUR LIBERTY
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What Is Mortgage Fraud?
Mortgage fraud involves intentionally providing false or misleading information in connection with obtaining, approving, funding, or servicing a mortgage loan. One federal statute that may be relevant in these cases is 18 U.S.C. 1014, which prohibits knowingly making false statements or reports for the purpose of influencing certain lenders, mortgage lending businesses, and other covered institutions.
Note the words “intentionally” and “knowingly.” A mistake on a loan application isn’t automatically a violation; prosecutors must prove the required knowledge or willfulness.
Types of Mortgage Frauds
Different types of mortgage frauds may be alleged against borrowers, investors, and industry professionals. Examples of conduct that has appeared in mortgage fraud cases include:
- Falsifying income or employment information
- Misrepresenting whether a home will be owner-occupied
- Providing false information about assets or debts
- Using fraudulent appraisals
- Submitting falsified loan or closing documents
- Using someone else’s identity or financial information
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When Housing Loan Fraud Becomes a Federal Crime
Housing loan fraud allegations can lead to federal charges when conduct falls under a federal criminal statute. For example, federal law covers certain false statements made to mortgage lending businesses, federally insured banks, and the Federal Housing Administration. Other federal charges may apply based on how the alleged mortgage loan fraud was carried out.
What Is the Mortgage Fraud Penalty?
The potential mortgage fraud penalty depends on the specific charges you face. A conviction under 18 U.S.C. 1014 for covered false statements in connection with loan or credit transactions may result in up to 30 years in federal prison, a fine of up to $1 million, or both.
How Much Mortgage Fraud Jail Time Could You Face?
Potential mortgage fraud jail time varies widely between cases. While 30 years in federal prison is the maximum sentence for a federal conviction under 18 U.S.C. 1014, factors that may affect the sentence include:
- Amount of financial loss
- Number of victims
- Defendant’s role
- Criminal history
Mortgage Loan Fraud Charges Under Texas Law
Texas also criminalizes conduct involving false information used to obtain mortgage loans. Someone may be charged under Texas law for intentionally or knowingly making a materially false or misleading written statement to obtain property or credit.
The actual penalty you face depends on the amount of credit or the value of the property. The most severe penalties are reserved for property worth $300,000 or more. This is a first-degree felony that may result in five to 99 years or life in prison. Lower amounts can result in lower felony or misdemeanor classifications.
Potential Defenses Against Mortgage Fraud Allegations
Mortgage fraud cases may hinge on what a defendant actually knew and intended. Issues your mortgage fraud attorney may examine when building a defense include:
- Lack of intent to deceive
- Reliance on incorrect information supplied by a broker, financial professional, or another person
- Lack of knowledge that a document contained false information
The right defense for your case depends on what your loan file, financial records, and communications show.
How Mark Perez, Mortgage Fraud Attorney, Can Help
Mortgage fraud investigations may involve years of records, multiple participants, and complex federal regulations involving mortgage loans. I can review the government’s allegations, loan files, financial records, communications, and other evidence to determine whether prosecutors can prove the required knowledge or intent and identify weaknesses in their case.
When investigators request documents or interviews, I can advise you on how to respond. I can also communicate with investigators and prosecutors on your behalf and build a defense strategy around the specific facts of your case.
Schedule a Free Consultation About Your Mortgage Fraud Case Today
Speaking with a mortgage fraud attorney early can help you avoid unnecessary statements or mistakes while you determine how to respond. Contact me to schedule a free consultation and discuss the allegations against you.
