Mortgage-fraud prosecutions typically allege complex, multi-step fraud schemes and assert losses suffered by financial institutions or other victims.
high
legal
General characterization of typical mortgage-fraud criminal cases given by legal experts.
Proving criminal intent in federal bank-fraud prosecutions can be particularly challenging when the alleged monetary loss is small.
high
legal
Observed practical prosecution difficulty cited by former federal prosecutors.
U.S. federal statutes addressing bank fraud and false statements to financial institutions are used to prosecute alleged misrepresentations in mortgage loan applications.
high
legal
Legal basis for criminal charges related to alleged mortgage misrepresentations.