Is it mortgage fraud

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A previously licensed loan officer, branch manager in North Carolina owned a property in NC jointly with another individual, per the deed recorded with Register of Deeds. The loan officer, branch manager extended a second mortgage on the property stating he was the only owner of the property per document recorded with Register of Deeds. Is this mortgage fraud and where should you report it ? Corporate headquarters of the mortgage company, banking commission? Individual was licensed in NC until recently, now exempt from NC license requirements. Also a licensed real estate broker in NC

livinginnky · Posted: Sat Nov 10, 2007 11:22 am Post subject:

So lets clarify... He forged a deed and said he was the only owner to get cash out on a 2nd mortgage and didn't tell the other owner?

If Yes, then do all of the above. Bank fraud is a federal felony and is punishable with up to 1 million dollar fine and prison time. It is taken very seriously and you should contact all relevant organizations. Starting with the police should lead you in the right direction.

1. Department of Financial Institutions
2. Sheriffs Department
3. FBI
4. NC Real Estate Commission
5. I wouldn't call the company he worked for until last in case they try to hide it.

Best of luck and let us know if you have any additional questions

Samantha

Yes Curious, this is a sort of mortgage fraud only. You may consider filing a complaint with any of the following organizations;

1. The Federal Trade Commission; fill up the complaint form
2. The FBI Field division in your state (the FBI investigates mortgage frauds under it's White Collar Crime department.)
3. The Better Business Bureau (BBB); provide details in complaint form

Hope this helps...If you have further questions, please feel free to ask me.

God bless you.

Samantha

jameshogg

Hi Curious,

If you are in North Carolina, then you can report mortgage fraud at any of the offices given below:

State of North Carolina, Office of the Commissioner of Banks
www.nccob.org
4309 Mail Service Center
Raleigh, NC 27699-4309
Contact No: (919) 733-3016

FBI Field Office, Mortgage Fraud
White Collar Crime Supervisor
http://charlotte.fbi.gov/
400 South Tryon Street, Suite 900 Wachovia Bldg.
Charlotte, NC 28285-0001
Contact No: (704) 337-9200

Thanks

mikeshapiro · Posted: Wed Jan 09, 2008 9:49 am Post subject:

Curious,

Keep us posted on how this goes. I know people in my state are saying the dept. of financial inst. is so over loaded they will only take cases if you had first hand knowledge of what happened.

banker0679 · Posted: Wed Jan 09, 2008 11:46 am Post subject:

I thought they would do a title search...and the title company will see that there are 2owners.

Something sounds strange here!

That would mean that the title company was in on it as well.....

lisascherzer · Joined: 04 Jan 2008 Posts: 599 69.56 Dollars($)

Wow. It's unbelievable what some people think they can get away with. I hope they do take action. Keep us posted.

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