mortgage fraud
Home loan scam
Mortgage fraud is deception in the home lending process—falsifying income, inflating property appraisals, or misrepresenting occupancy intent to secure loans or better terms.
It can be committed by borrowers seeking homes they can't afford or by industry insiders orchestrating schemes for profit: The FBI investigated a ring involved in mortgage fraud during the housing boom.
- lendersThose who provide loans
- appraisersThose who estimate value
- borrowersThose receiving loans
- straw buyerProxy acquiring for another
- identity theftStealing personal data criminally
embezzlement · inflated · background checks · red flags · real estate agents · financial institutions · underwriters · falsified · predatory · title companies · closing costs · bank statements · regulatory bodies · white collar crime · FBI · legal fees · whistleblower protections · law enforcement agencies
- fraudscam, swindle, con, deceive, cheat
- mortgageshome loan, fixed-rate mortgages, home loans, adjustable-rate mortgages, down payment
- financial crimesmoney laundering, Ponzi scheme, insider trading, investment scams, ponzi scheme
- financial frauddefalcation, embezzler, peculation, fraudster, embezzlement
- Financial ScandalsEnron, Bernie Madoff, Ponzi scheme, insider trading, Theranos
- fraud detectionscam, phishing, identity theft, suspicious activity, account takeover