May 29, 2008
Mortgage Broker and Mortgage Fraud
Mortgage fraud appears when some individual betrays or defrauds some financial institution. In this fraudulent activity a mortgage broker may also be involved. It is again possible when some obnoxious financial institution or lender willfully betrays or misleads any individual which is often called as “predatory mortgage lending”. Mortgage fraud happens in incidents which involve willfully false narration of one’s assets or other entries, not disclosing all or required facts, failing to provide all documentations, unable to disclose correct or complete terms & conditions to buyer and convincing borrower to refinance any loan without any benefit. Moreover it also includes inserting criminal as well as unethical clauses in to an agreement to which borrower shall sign without proper realization.