Mortgage fraud definition

Mortgage fraud means any action by a person made with the intent to defraud that involves:
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Mortgage fraud means a material misstatement, misrepresentation, or omission relied upon by an Enterprise to fund or purchase—or not to fund or purchase—a mortgage, including a mortgage associated with a mortgage- backed security or similar financial in- strument issued or guaranteed by an Enterprise. Such mortgage fraud in- cludes, but is not limited to, a material misstatement, misrepresentation, or omission in identification and employ- ment documents, mortgagee or mort- gagor identity, and appraisals that are fraudulent.
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Mortgage fraud means a material misstatement, misrepresentation, or omission relied upon by an Enterprise to fund or purchase — or not to fund or purchase
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Examples of Mortgage fraud in a sentence

  • It contains guidance directed at small firms on:Monitoring activity (■ FCTR 10.3.3G)Responsibilities and risk assessments (■ FCTR 10.3.7G) General fraud (■ FCTR 10.3.13G)Insurance fraud (■ FCTR 10.3.14G) Investment fraud (■ FCTR 10.3.15G) Mortgage fraud (■ FCTR 10.3.16G) Staff/Internal fraud (■ FCTR 10.3.17G)• ■ FCTR 11 summarises the findings of the FSA’s thematic review Mortgage fraud against lenders.

  • The mortgagee shall use FHA’s procedures to verify the mortgagor’s income.(b) Mortgage fraud verification.

  • Mortgage fraud victims include distressed homeowners preyed upon by fraudsters posing as foreclosure rescue experts; the elderly who are victimized in Home Equity Conversion Mortgage or ―reverse mortgage‖ schemes; U.S. service members; and entire neighborhoods blighted by blocks of abandoned homes.

  • Mortgage fraud generally involves material misrepresentation or omission of information, with the intent to deceive or mislead lenders or homeowners.

  • Mortgage fraud is a crime in which the intent is to materially misrepresent or omit information on a mortgage loan application to obtain a loan or to obtain a larger loan, or a loan on different terms, than would have been obtained had the lender or borrower known the truth.

  • Mortgage fraud occurs when someone signs a mortgage against a property that they do not own to borrow money against the property.

  • Mortgage fraud and title misrepresentation is another example of these crimes.

  • S, (2004), 'Mortgage fraud concerns FBI', Washington Post, 18 September 2004.

  • Mortgage fraud: mortgagees have no protection under indefeasibility and no protection from the assurance fund.

  • Mortgage fraud has a dramatic impact on surrounding neighborhoods.


More Definitions of Mortgage fraud

Mortgage fraud. ’ means a material misstatement, misrepresentation, or omis- sion relating to the property or potential mortgage relied on by an underwriter or lender to fund, purchase, or insure a loan.
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Related to Mortgage fraud

  • Mortgage Loan Seller Each of CREFI, GACC and JPMCB, and their respective successors in interest.

  • ARD Mortgage Loan Any Mortgage Loan that is identified as having an Anticipated Repayment Date and a Revised Rate on the Mortgage Loan Schedule.

  • Distressed Mortgage Loan Any Mortgage Loan that at the date of determination is Delinquent in payment for a period of 90 days or more without giving effect to any grace period permitted by the related Mortgage Note or for which the applicable Servicer or the Trustee has accepted a deed in lieu of foreclosure.

  • Retained Mortgage Loan File A file for each Mortgage Loan maintained by the Servicer prior to any Document Transfer Date and by the Custodian after any Document Transfer Date that contains the documents specified in Section 2.01(b) of the Pooling and Servicing Agreement and any additional documents required to be added to the Retained Mortgage Loan File pursuant to the Pooling and Servicing Agreement.

  • Buydown Mortgage Loan Any Mortgage Loan as to which a specified amount of interest is paid out of related Buydown Funds in accordance with a related buydown agreement.

  • Second Mortgage Loan A Home Equity Loan which constitutes a second priority mortgage lien with respect to the related Property.

  • Mortgage shall have the meaning assigned to such term in the recitals.

  • Wet-Ink Mortgage Loan means a Mortgage Loan which Seller is selling to Buyer simultaneously with the origination thereof.

  • Countrywide Mortgage Loans The Mortgage Loans identified as such on the Mortgage Loan Schedule for which Countrywide is the applicable Seller.

  • Special Hazard Mortgage Loan A Liquidated Mortgage Loan as to which a Special Hazard Loss has occurred.

  • Covered Mortgage Loan Any Mortgage Loan that is covered by a PMI Policy.

  • Mortgage Loan Seller Sub-Servicer A Sub-Servicer required to be retained by the Master Servicer by a Mortgage Loan Seller, as listed on Exhibit S to this Agreement, or any successor thereto.

  • Retained Mortgage File With respect to each Mortgage Loan, the file consisting of the Mortgage Loan Documents listed as items 6 through 12 of Exhibit C attached hereto. Securities Act: The Securities Act of 1933, as amended.

  • Class P Mortgage Loan Any of the Class I-P, Class II-P or Class III-P Mortgage Loans.

  • REO Mortgage Loan Any Mortgage Loan which is not a Liquidated Loan and as to which the indebtedness evidenced by the related Mortgage Note is discharged and the related Mortgaged Property is held as part of the Trust Estate.

  • Group II Mortgage Loan A Mortgage Loan assigned to Loan Group II with a Stated Principal Balance at origination that may or may not conform to Xxxxxx Mae and Xxxxxxx Mac loan limits.

  • Mortgage Loan Documents means, with respect to the Mortgage Loan, the Mortgage Loan Agreement, the Mortgage, the Notes and all other documents now or hereafter evidencing and securing the Mortgage Loan.

  • Owner Mortgage Loan File A file maintained by the Custodian for each Mortgage Loan that contains the documents specified in Section 2.01(a) and any additional documents required to be added to the Owner Mortgage Loan File pursuant to this Agreement.

  • Mortgage Loan File for inclusion in the Mortgage Loan File (to the extent such documents are in the possession of the Special Servicer) and copies of any additional related Mortgage Loan information, including correspondence with the Borrower Related Parties, and the Special Servicer shall promptly provide copies of all of the foregoing to the Servicer as well as copies of any analysis or internal review prepared by or for the benefit of the Special Servicer, provided that, such materials shall not include any Privileged Information.

  • Mortgage Loan Group Either Group I or Group II.

  • Servicer Mortgage Loan File As defined in each of the Servicing Agreements.

  • Group 4 Mortgage Loan Each Mortgage Loan listed on Exhibit D-4 hereto.

  • Other Servicer Mortgage Loan Any of the Mortgage Loans, if any, identified in Exhibit F-2 hereto, as such Exhibit may be amended from time to time in connection with a substitution pursuant to Sections 2.02 or 2.06, which Mortgage Loan is serviced under an Other Servicing Agreement.

  • Performing Mortgage Loan Any Mortgage Loan or Serviced Pari Passu Companion Loan that is not a Specially Serviced Mortgage Loan.

  • Released Mortgaged Property Proceeds As to any Mortgage Loan, proceeds received by the Servicer in connection with (a) a taking of an entire Mortgaged Property by exercise of the power of eminent domain or condemnation or (b) any release of part of the Mortgaged Property from the lien of the related Mortgage, whether by partial condemnation, sale or otherwise, which are not released to the Mortgagor in accordance with applicable law and mortgage servicing standards the Servicer would use in servicing mortgage loans for its own account and this Agreement.

  • Servicer Mortgage File All documents pertaining to a Mortgage Loan not required to be included in the Trustee Mortgage File and held by the Master Servicer or the related Servicer or any Sub-Servicer.