View Full Version : Just The Tip of The Mortgage,Foreclosure, and Bank Fraud Iceberg
lowedbeume
Dec 5, 2010, 02:01 PM
While contesting a fraudulent purchase of our property by an employee of a mortgage brokerage, and a subsequent mortgage in foreclosure, we discovered the mortgage broker also owned the title company and employeed the fake, unregistered notaries to commit real estate, mortgage, foreclosure, bank and bankruptcy fraud. Is the relationship between the three legal?
ScottGem
Dec 5, 2010, 03:51 PM
It probably is not illegal for the broker to also own a title company. It would be unethical and possibly illegal if they requires that you use THEIR title company.
It would certainly be illegal to knowingly employ notaries not properly licensed.
Other than that what makes you think there is evidence of fraud? While it may be unethical for an employee of the brokerage to purchase property which the broker has brokered a mortgage for, I'm not sure its illegal depending on the circumstances.