Purchasing a home is one of the largest investments most people make within their lifetime. By entering into a mortgage with a lending company, you agree to make regularly scheduled payments for a set duration of time, typically around 30 years. The decision is a substantial one with long-lasting repercussions, which lends itself to high-stress during the application process. When stress levels rise, our brain can sometimes cease to function as clearly as we would like causing an increase in mistakes. Errors on mortgage documents are something to avoid. Otherwise, you may face federal mortgage fraud charges.

What Is Mortgage Fraud?

Mortgage fraud applies to individuals and professional brokers, alike. Deception occurs anytime a party misrepresents the facts on a mortgage application or document with the intent to obtain a mortgage that would otherwise have been obtainable had the opposing party known the truth. The deceptive practice from either side is punishable at a federal level.