Richard C. Wayne & Associates, P.C.

Mortgage Fraud is one of the most devastating types of criminal activity in our society today. The process of mortgage fraud, in and of itself becomes more and more sophisticated everyday.  Mortgage fraud has developed into a highly complex tangle of lies throughout the home buying-and-selling process. It has a long-range, devastating effect on society and the housing market at large. By using our vast knowledge in this area, our trained personnel and our experienced private investigators, we have been very successful at untangling this web of deceit for many mortgage fraud victims.

A few examples of mortgage fraud are:

     *  Appraisal Fraud
     *  Employment/income fraud
     *  Failure to disclose liabilities
     *  Mortgage fraud ring
     *  Mortgage servicing fraud
     *  Occupancy fraud
     *  Predatory mortgage lending

 Predatory mortgage lending is sometimes more detailed in structure and extremely more difficult to recognize.  U.S. consumers are often victims of this type of mortgage fraud.  While legally conducting business, a few of these brokers and lenders are finding loopholes in the system to obtain an accelerated profit from their transactions.  These types of mortgage fraud transactions include:

     *  Balloon loans: after a series of low payments, the remaining balance is due in a lump sum
     *  Convincing borrowers to refinance a loan several times, each time increasing monthly payments or amounts owed
     *  Encouraging applicants to include false information
     *  Encouraging borrowers to leave signature lines blank
     *  Failure to include a Good Faith Estimate, Truth in Lending and/or Settlement Statement
     *  Failure to explain unexpected costs at the settlement
     *  Presenting loan amounts higher than the value of the home

The scope of mortgage fraud is very serious and has spread throughout the nation.  Our goal is to properly prosecute these cases in order to make our clients financially whole and to stop the progression of these fraudsters in continuing their illegitimate business practices.