The Law Office of G. Russell Donaldson, P.C. can assist you with Loan or Mortgage Application Fraud
One of the most common kinds of financial institution fraud involves loan or mortgage application fraud. During the last decade, many bank and mortgage company officials orally encouraged individuals and businesses to misrepresent their income and other factors on mortgage applications. When these borrowers don’t make their payments, the banks review the applications, looking for misstatements of income or other misrepresentations of fact. If the banks find anything, they will often turn the case over to the feds for prosecution. In essence, the banks and mortgage lenders are trying to use the government as a collection agency, to collect on bad loans they encouraged people to take.
You can be charged in federal court for mortgage or bank fraud:
- Even if the bank or mortgage company knew you were making a
- Even if bank or mortgage company employees encouraged you to
misrepresent the facts
- Even if 98 percent of the information on your application
- Even if your loan application was denied
Conversely, the government also loves to prosecute bank and mortgage lending officers in the wake of major financial meltdowns, in the never-ending hunt for scapegoats. But a negligently granted loan does not equal a fraudulent loan.
The current Department of Justice (DOJ) has essentially refused to indict, or seriously investigate, elite actors at major banks and investment houses for any of their actions which may have led to the 2008 mortgage meltdown and subsequent financial crisis but this does not mean that DOJ has been inactive. On the country, literally hundreds, if not thousands, of mortgage brokers, mid-level bank officers, and community bankers have been charged and continue to be targeted. A thorough knowledge, practical and theoretical, of how bank fraud trials and investigations work is required in order for an attorney to competently defend these matters.
G. Russell Donaldson has the experience to manage the most detailed and complex bank and mortgage fraud investigations in all of their variations, including alleged: house flipping schemes, equity skims, straw purchases, inflated appraisals and net worth scams.