Violations of banking, mortgage and lending laws often have the most devastating effects on average, everyday people who do not understand the risks or potential financial consequences of their loan, mortgage or investment. The Whistleblower Law Collaborative focuses on representing whistleblowers nationwide, including those with inside information about any form of bank fraud. If you have information about individuals, businesses or banks actively involved in violating banking, mortgage or lending laws, rely on the combined resources of two respected law firms to set the record straight.
A mortgage transaction becomes fraudulent when the documents contain misrepresented or misstated information. Many mortgages are secured, guaranteed or subsidized by government funds or are bundled and purchased by entities with government backing. These transactions generally involve multiple parties and large sums of money, which creates ample opportunities for the following types of fraud:
- Fraud for housing — In an attempt to either qualify for a loan or obtain more favorable terms, a borrower submits an application containing false, incomplete or inaccurate information. An institution such as a bank or other financial firm loans the money and the government is ultimately affected.
- Fraud for profit — A real estate professional fraudulently extracts money from a property or transaction. Often, these schemes involve the use of inflated property appraisals, stolen identities or mortgage documents containing false, incomplete or inaccurate information.
An increase in home foreclosures often leads to an increase in opportunities for fraud specifically targeting people in danger of losing their home to foreclosure. These forms of fraud often involve predatory lending practices, such as balloon payments, and scams that promise future financing or cash in exchange for signing over the deed today.
Bank and Financial Institution Fraud
These institutions may engage in the types of mortgage or foreclosure fraud noted above. In addition, there are many other ways their misconduct can directly or indirectly affect government funds and constitute fraud on the government. For example, by misrepresenting their financial condition, investments and risks, or by falsely claiming to qualify for government funding or bailouts.
Small-Business Administration Fraud
The government provides many kinds of assistance to small-business owners, including loans and guarantees. Attempts to take unfair advantage of these programs, for example, by misrepresenting your income or qualifications, can be a fraud.
Contact the Whistleblower Law Collaborative
The lawyers at Thomas & Associates and Durrell Law Office have joined forces to create the Whistleblower Law Collaborative. The firm serves clients nationwide. Call toll free at 877-341-5952 to arrange a free initial phone consultation with an experienced nationwide financial fraud attorney located in Boston, Massachusetts.