A review of recent federal indictments provides a overview of some of the types of conduct in the mortgage origination process that may be regarded as criminal.
Materially false and fraudulent mortgage loan applications and related documents such as the uniform residential loan application
False employment verification
False verification of income and funds on deposit
False rent verification
False assertions such as living in the property as a primary residence
False assertions of amount of funds on deposit in the bankStraw buyer and identity theft
Concealment of material information
Misrepresentation of price
Concealment of "kicker fees"
The following are some of the federal statutory provisions that may be involved:
18 U.S.C. 1343 - wire fraud
18 U.S.C. 1344 - financial institution fraud
18 U.S.C. 1349 - conspiracy to commit wire and financial institution fraud
18 U.S.C. 1028 (A)(1) and (2) - aggravated identity theft
19 U.S.C. 981, 982, and 21 U.S.C. 853 - forfeiture