A Mortgage Fraud Defense and Compliance Attorney
A reliable real estate fraud and mortgage fraud lawyer in Torrance, CA
Since the collapse of the mortgage market in 2008, state and federal governments are taking broad and aggressive action to ensure compliance with the law and to prevent real estate fraud. More commonly, state and federal agencies will pursue the investigation and prosecution of mortgage fraud schemes involving lenders, investors and brokers. At the Law Offices of Steven Gourley, located in Torrance, CA, we are experienced in representing our clients to help ensure compliance and to avoid liability.
Mortgage fraud schemes and defense
Mortgage fraud will often involve a federally insured lender or bank and schemes that range from inflated appraisals to foreclosure schemes or “air loans.” By following California laws and federal mortgage regulations, you can protect your rights and avoid liability. The Law Offices of Steven Gourley is experienced with mortgage fraud cases involving:
- Occupancy fraud. Interest rates are usually higher for investment properties rather than owner occupied homes. Occupancy fraud occurs when a borrower states an intention to live in the home but fails to do so.
- Income and employment fraud. Income fraud involves an applicant or borrower who lies about income sources or the total amount of income received. Employment fraud occurs when a borrower lists a company that doesn’t exist or lies about employment status.
- Mortgage broker fraud. Brokers can be held liable for fraud for a number of reasons. Failing to comply with laws, failure to disclose, breach of ethics, self-dealing and other mortgage schemes can result in fraud liability. Mortgage brokerages can be accountable for failure to monitor an agent.
- Silent second mortgage. Silent second mortgage fraud occurs when a borrower does not have enough for a down payment but borrows from the seller to obtain financing. The contract then reflects an inflated sales price.
- Sales price fraud. Sales price fraud occurs anytime a buyer has two sales contracts but presents a lender one reflecting an inflated sales price.
- Inflated appraisals. Investors can make a profit by flipping property with the assistance of corrupt appraisers, title companies and other parties. Investors, brokers or appraisers who benefit from inflated appraisals can be held liable.
Lenders and mortgage fraud: know the law
Our attorney works closely with lenders to help them navigate the complexities of mortgage law, security law violations and the ever-growing body of state and federal regulations in this area. We can help you to ensure compliance and to avoid financial and criminal liability. In addition to representing clients in mortgage fraud cases, our firm can provide testimony and support as an expert mortgage witness.
Work with a skilled mortgage fraud attorney and expert witness
For issues related to mortgage fraud, speak with a lawyer who has more than three decades of experience in real estate law. Call the Law Offices of Steven Gourley today at 424.286.9246 or contact us online. Our firm proudly serves individuals, businesses and organizations across the state of California.