New York City Mortgage Fraud criminal defense attorneys of Norman Spencer Law Group PC represent clients throughout NYC and Long Island who are investigated for, or charged with, mortgage fraud.

Mortgage fraud is a willful misrepresentation of material facts on a loan application or other related documents with the intent to influence the decision-making of either the underwriter, lender, or borrower. Such offenses may investigated and prosecuted on state and federal levels.

The FBI’s Financial Institution Fraud Unit is in charge of investigating mortgage-related criminal allegations on the federal level. On the state level, such offenses in New York may be prosecuted under a variety of statutes, including falsifying business records, forgery, schemes involving a security interest, fraudulent disposition of mortgaged property, bribery, schemes involving residential properties, larceny, etc.

• Fraud for profit – revolving equity, inflating the value of the property, or issuing loans based on non-existent properties. This type is usually perpetrated by real estate business professionals, not buyers. Some common examples are equity skimming and property flipping.
• Fraud for housing is committed by the borrower to unlawfully purchase and own property. It may take various forms, for example, misrepresenting income or employment history on the application to obtain a loan at a better interest rate, applying for the loan under another person’s name and credit history, which is sometimes called Nominee Loans, or Straw Buyers, scams, or even using a stolen or non-existent identity to apply for a loan. Another common example is the Silent Second scheme, when the borrower takes out a second loan, which is unknown to the seller, to cover the down payment.

As you may see, such cases are extremely complex to defend. Mortgage lawyers at Norman Spencer Law Group PC have represented buyers as well as brokers, property appraisers, and other professionals in a multitude of both federal and state-level criminal investigations and court proceedings. Our insurance fraud attorneys have all the necessary expertise and resources to successfully represent clients charged with any related offenses, no matter how complex the case is.

If you are subject to an investigation related to mortgages in NYC or a neighboring area, contact our criminal defense lawyers to discuss your case. The earlier you contact an attorney, the better chances your defense case has.