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Isn’t That Loan Fraud?

Isn’t That Loan Fraud?

The definition of loan fraud is simple. According to the F.B.I. loan fraud is any material misstatement, misrepresentation or omission relied upon by a mortgage underwriter or lender to fund a loan.

The definition does not make any exception for white lies, half truths, fibs or creative facts. It says any material misstatement, misrepresentation or omission. In most cases if you are involved in a real estate loan transaction, as a borrower, real estate agent, attorney or some other party, and you have to ask yourself or someone else “Is that loan fraud?” 95% of the time the answer is “yes.”

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Worried about Your FICO Score? 4 Easy Strategies to Fix It Up

If you’re worried about your bad credit, you’ll want to do everything in your power to improve your rating as quickly as possible – especially if you have a major purchase coming up. Improving your credit rating can give you access to better interest rates on mortgages or even help you to get that job you’re after.

So how can you boost your FICO score quickly and easily? Here’s what you need to know.

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