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This type of fraud is sometimes known as fraud for housing because the borrower is not seeking to make a profit from the fraud, but commits it to obtain a home. Professional Fraud Lenders, as well as borrowers, can also commit a type of mortgage fraud in order to make a profit from the transaction, which is why this type of mortgage fraud is sometimes known as "fraud for profit" or professional mortgage fraud.
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Mortgage fraud happens when someone intentionally confuses, lies or omits information when they apply for a mortgage. This can be done by lenders and borrowers alike. In Florida, there is a specific statute that covers mortgage fraud. However, in many cases, prosecution is done on a federal level. It is also important to understand that there.
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