Lender Mortgage Fraud and Financial Fraud
is Being Uncovered in
Today’s Financial Crisis

Find Out if Your Mortgage is Ripe with Fraud

Top 10 Reasons to get a Loan Audit 

What Homeowners are doing with their Loan Audit.

Possible Violations in Your Mortgage

TRUTH IN LENDING ACT (TILA)

As part of every loan transaction, the bank must provide the homeowner correct disclosures at or before the time of closing, like the amount of the finance charge and APR. If these disclosures are inaccurate, the loan may be statutorily rescindable under TILA. Rescission means the loan is canceled and all money paid to the lender is refunded. Moreover, if you purchased the property or used the proceeds to refinance and proper disclosures were not given, then you may also be entitled to money damages to offset the foreclosure.

REAL ESTATE SETTLEMENT PROCEDURES ACT (RESPA)

This federal law governs many types of disclosures that lenders must provide at the time of closing, in addition to prohibiting things like kickbacks and unearned fees. It enables damages, and sometimes rescission if the error triggers TILA.

HOME OWNERSHIP AND EQUITY PROTECTION ACT (HOEPA)

This is a very powerful federal law governing high cost refinance loans. Violations here enable substantial money damages that can be in excess of the loan’s dollar amount.

RACKETEERING AND CORRUPT ORGANIZATIONS ACT (RICO)

A borrower may successfully plead a RICO claim in a yield spread premium case. The elements of a RICO claim are satisfied where the payment of the premium was not disclosed and the cost of the premium is passed on to the borrower in the form of a higher interest rate; and the broker represented that it would provide the lowest available rate.

BANK RIGHT TO PRIVACY ACT

There are 180 different mandated disclosures that lenders are required to file.

Recent Fraud Articles:
Bank of America & WikiLeaks
Quicken Loans Fraud
Foreclosure Dismissed
HSBS & Multiple Notes

Many banks are being investigated for mortgage fraud.  SEC violations against Countrywide, and other banks are being revealed.

 William Black Successful Savings & Loan Investigator Explains Mortgage Fraud

 William Black is a former investigator of the “Savings & Loan Debacle”.  He was responsible for the successful prosecution of financial crimes.

Learn about Control Fraud and how the Savings & Loan Scandal compares to what is going on in today’s Mortgage Fraud Melt Down.

Mr. Black presents an insiders view of the current mortgage fraud melt down, also a “control fraud” which is the most costly and profitable of all financial systems fraud.  The end results: BOTH parties will exit the transaction in dire financial circumstances. But when “control fraud” comes into play a very specific element at law is brought to bear: the element of deceit. In other words, one or the other party is now acting in direct deceit or known malfeasance, or pre-meditated dis-intent: to deceive the other party into thinking and trusting in one thing, and doing another.

Let’s look at the banking industry in light of this financial systems control fraud:

A fraud that can only be committed in the midst of an economic “credit bubble” and which will only be guaranteed to be not just profitable but “off the charts” profitable so long as the bubble is in its expansion phase.  A fraud whose only guaranteed outcome after such exorbitant profit taking is complete collapse and financial crash of the underlying financial system which supported pillage of the expansion bubble.