Mortgage fraud means a material misstatement, misrepresentation, or omission relied upon by an Enterprise to fund or purchase—or not to fund or purchase—a mortgage, including a mortgage associated with a mortgage- backed security or similar financial in- strument issued or guaranteed by an Enterprise. Such mortgage fraud in- cludes, but is not limited to, a material misstatement, misrepresentation, or omission in identification and employ- ment documents, mortgagee or mort- gagor identity, and appraisals that are fraudulent.
Mortgage fraud means a material misstatement, misrepresentation, or omission relied upon by an Enterprise to fund or purchase — or not to fund or purchase
Examples of Mortgage fraud in a sentence
Risk of Mortgage Fraud: Mortgage fraud can occur if a borrower misrepresents himself or herself to be the owner of a property of which they are not the legal owner, and obtains a Mortgage on such property.
More Definitions of Mortgage fraud
Mortgage fraud. ’ means a material misstatement, misrepresentation, or omis- sion relating to the property or potential mortgage relied on by an underwriter or lender to fund, purchase, or insure a loan.