Mortgage Fraud Charges in Florida: State and Federal Cases
Mortgage fraud allegations can come from almost any part of buying, selling, or refinancing a home, from a loan application and supporting paperwork to an appraisal, a closing, or a document filed with the county clerk. These cases are often investigated for months before anyone is charged, and the same facts can lead to charges in Florida state court, in federal court, or both.
This post explains in general terms how mortgage fraud cases are handled under Florida law and in the federal system, at the time of this writing. Every case is different, so if you or a friend or family member is facing a mortgage fraud investigation or charge, call Attorney Ron Frey right away for a free, confidential consultation by phone, by video, or in person. Call or text (813) 775-2276 or (844) 766-3739.
The Laws Involved
- Florida: Section 817.545, Florida Statutes, mortgage fraud. It generally addresses knowingly making or using material misstatements, misrepresentations, or omissions in the mortgage lending process with intent to defraud.
- Federal: 18 U.S.C. § 1344, bank fraud. It generally addresses schemes to defraud a financial institution.
- Federal: 18 U.S.C. § 1014, loan and credit applications generally; renewals and discounts; crop insurance. It generally addresses false statements made to influence certain lenders, including mortgage lending businesses.
- Federal: 18 U.S.C. § 1343, fraud by wire, radio, or television. It generally addresses schemes to defraud that use interstate wire communications.
Laws change, so contact Attorney Ron Frey about how any of these may apply to your case.
Who Can Be Accused?
Mortgage fraud allegations aren’t limited to borrowers. Florida’s law covers anyone involved in the mortgage lending process, which can include buyers, sellers, loan officers, brokers, appraisers, title and closing professionals, and others who handle the documents. Talk with Attorney Ron Frey about where you or a friend or family member may fit in an investigation.
State or Federal?
Under Florida’s law, a case may be brought in the county where the property is located or in a county where an important act in the alleged scheme took place. Federal cases from the Tampa Bay area are generally prosecuted in the Middle District of Florida. Because the same loan file can lead to state charges, federal charges, or both, it helps to talk with Attorney Ron Frey early. Learn more on the Federal Offenses page.
How Mortgage Fraud Investigations Often Start
Many cases begin with a review of loan files, bank records, or closing documents, and a person may first hear about an investigation through a subpoena, a target letter, or a visit from agents. If a federal agency has contacted you or a friend or family member, see Investigated by a Federal Agency? and call Attorney Ron Frey right away. Every situation is different, so there are no one-size-fits-all rules for what to do next.
A Financial Background for Financial Cases
Mortgage fraud cases often turn on loan applications, income and asset records, appraisals, settlement statements, and money trails. Attorney Ron Frey earned a Bachelor of Science in Business Administration, with a major in finance, and a Bachelor of Science in Economics from John Carroll University, which gives him a solid foundation for reading the financial records at the center of these cases. See the White Collar and Financial Crimes page for the other financial cases Attorney Ron Frey handles.
Talk With Attorney Ron Frey
Whether you or a friend or family member has received a subpoena or target letter, been contacted by agents, or been charged, call or text Attorney Ron Frey at (813) 775-2276 or (844) 766-3739 for a free, confidential consultation by phone, by video, or in person at The Frey Law Firm, 625 E. Twiggs St., Suite 101A, in downtown Tampa.
Disclaimer: This post is for general informational purposes only and is not legal advice. Reading it does not create an attorney-client relationship.