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Mortgage Fraud
Mortgage fraud refers to an intentional misstatement, misrepresentation, or omission of information relied upon by an underwriter or lender to fund, purchase, or insure a loan secured by real property. Criminal offenses may be prosecuted in either federal or state court, and are typically charged under wire fraud, bank fraud, mail fraud, or money laundering statutes, with penalties of imprisonment for up to 30 years per offense. As the incidence of mortgage fraud has risen over the past few years, states have also begun to enact their own penalties for mortgage fraud. Mortgage fraud is not to be confused with predatory mortgage lending, which occurs when a consumer is misled or deceived by agents of the lender. However, predatory lending practices often co-exist with mortgage fraud. Types Occupancy fraud: This occurs where the borrower wishes to obtain a mortgage to acquire an investment property, but states on the loan application that the borrower will occupy the property ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Wire Fraud
Mail fraud and wire fraud are terms used in the United States to describe the use of a physical (e.g., the U.S. Postal Service) or electronic (e.g., a phone, a telegram, a fax, or the Internet) mail system to defraud another, and are U.S. federal crimes. Jurisdiction is claimed by the federal government if the illegal activity crosses interstate or international borders. Mail fraud Mail fraud was first defined in the United States in 1872. provides: Whoever, having devised or intending to devise any scheme or artifice to defraud, or for obtaining money or property by means of false or fraudulent pretenses, representations, or promises, or to sell, dispose of, loan, exchange, alter, give away, distribute, supply, or furnish or procure for unlawful use any counterfeit or spurious coin, obligation, security, or other article, or anything represented to be or intimated or held out to be such counterfeit or spurious article, for the purpose of executing such scheme or artifice ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Recorder Of Deeds
Recorder of deeds or deeds registry is a government office tasked with maintaining public records and documents, especially records relating to real estate ownership that provide persons other than the owner of a property with real rights over that property. Background The offices with similar duties (varying by jurisdiction) include registrar general, register of deeds, registrar of deeds, registrar of titles. The office of such an official may be referred to as the deeds registry or deeds office. In the United States, the recorder of deeds is often an elected county office and is called the county recorder. In some U.S. states, the functions of a recorder of deeds are a responsibility of the county clerk (or the county's clerk of court), and the official may be called a clerk-recorder or recorder-clerk. The recorder of deeds provides a single location in which records of real property rights are recorded and may be researched by interested parties. The record of deeds ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Fraud Enforcement And Recovery Act Of 2009
The Fraud Enforcement and Recovery Act of 2009, or FERA, , is a public law in the United States enacted in 2009. The law enhanced criminal enforcement of federal fraud laws, especially regarding financial institutions, mortgage fraud, and securities fraud or commodities fraud. Legislative history U.S. Senator Patrick Leahy of Vermont, a Democrat and the chairman of the Senate Judiciary Committee, sponsored the bill. On April 27, 2009, the Senate invoked cloture on the bill as amended (S. 386) on an 84–4 vote, with eleven not voting. Only four Senators voted no, all Republicans ( Tom Coburn, Jim DeMint, James Inhofe, and Jon Kyl). On April 28, the Senate passed the bill on a 92–4 vote, with three not voting; the same Senators who voted against cloture voted against the bill. On May 6, the United States House of Representatives passed the bill with its own amendment on a 367–59 vote, with six Representatives not voting and one Representative, Democrat Alan Grayson o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
CBS News
CBS News is the news division of the American television and radio broadcaster CBS. It is headquartered in New York City. CBS News television programs include ''CBS Evening News'', ''CBS Mornings'', news magazine programs ''CBS News Sunday Morning'', ''60 Minutes'', and ''48 Hours (TV program), 48 Hours'', and Sunday morning talk show, Sunday morning political affairs program ''Face the Nation''. CBS News Radio produces hourly newscasts for hundreds of radio stations, and also oversees CBS News podcasts like ''Major Garrett, The Takeout Podcast''. CBS News also operates CBS News 24/7, a 24-hour digital news network. Up until April 2021, the president and senior executive producer of CBS News was Susan Zirinsky, who assumed the role on March 1, 2019. Zirinsky, the first female president of the network's news division, was announced as the choice to replace David Rhodes (CBS News President), David Rhodes on January 6, 2019. The announcement came amid news that Rhodes would step do ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
White-collar Crime
The term "white-collar crime" refers to financially motivated, nonviolent or non-directly violent crime committed by individuals, businesses and government professionals. The crimes are believed to be committed by middle- or upper-class individuals for financial gains. It was first defined by the sociologist Edwin Sutherland in 1939 as "a crime committed by a person of respectability and high social status in the course of their occupation". Typical white-collar crimes could include wage theft, fraud, bribery, Ponzi schemes, insider trading, racketeering, labor racketeering, embezzlement, cybercrime, copyright infringement, money laundering, identity theft, and forgery. White-collar crime overlaps with corporate crime. Definitional issues Modern criminology generally prefers to classify the type of crime and the topic: *By the type of offense, e.g., property crime, Financial crimes, economic crime, and other corporate crimes like environmental law, environmental and health and ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Federal Bureau Of Investigation
The Federal Bureau of Investigation (FBI) is the domestic Intelligence agency, intelligence and Security agency, security service of the United States and Federal law enforcement in the United States, its principal federal law enforcement agency. An agency of the United States Department of Justice, the FBI is a member of the United States Intelligence Community, U.S. Intelligence Community and reports to both the United States Attorney General, attorney general and the Director of National Intelligence, director of national intelligence. A leading American counterterrorism, counterintelligence, and criminal investigative organization, the FBI has jurisdiction over violations of more than 200 categories of Federal crime in the United States, federal crimes. Although many of the FBI's functions are unique, its activities in support of national security are comparable to those of the British MI5 and National Crime Agency, NCA, the New Zealand Government Communications Security ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Birmingham Midshires
Birmingham Midshires is an online trading name of Bank of Scotland plc (part of Lloyds Banking Group). It was headquartered at Pendeford Business Park, Wolverhampton. It previously had 67 branches throughout England and Wales. Previously, Birmingham Midshires was a building society, known as the Birmingham Midshires Building Society. History The Birmingham Midshires was formed on 30 June 1986 by the merger of the Birmingham and Bridgwater and the Midshires Building Societies. These societies could trace their roots back to 1849 and were themselves formed by the mergers of the following societies: Liverpool Building Society, Wolverhampton and Mercia, Bristol Equitable Permanent Benefit, Swansea & Gower Permanent, and the Warrington Workingmens' Permanent. Birmingham Midshires offered a range of specialist mortgage and savings products. In 1998, the Birmingham Midshires Building Society agreed to a takeover bid from the Royal Bank of Scotland. However the deal collapsed when Ha ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Royal Bank Of Scotland
The Royal Bank of Scotland Public Limited Company () is a major retail banking, retail and commercial bank in Scotland. It is one of the retail banking subsidiaries of NatWest Group, together with NatWest and Ulster Bank. The Royal Bank of Scotland has around 700 branches, mainly in Scotland, though there are branches in many larger towns and cities throughout England and Wales. The bank is completely separate from the fellow Edinburgh-based bank, the Bank of Scotland, which pre-dates the Royal Bank by 32 years. The Royal Bank of Scotland was established to provide a bank with strong House of Hanover, Hanoverian and Whigs (British political party), Whig ties. Following ringfencing of the Group's core domestic business, the bank became a direct subsidiary of NatWest Holdings in 2019. NatWest Markets comprises the Group's investment banking arm. To give it legal form, the former RBS entity was renamed NatWest Markets in 2018; at the same time Adam and Company (which held a separa ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
HBOS
HBOS plc is a banking and insurance company in the United Kingdom, a wholly owned subsidiary of the Lloyds Banking Group, having been taken over in January 2009. It was the holding company for Bank of Scotland, Bank of Scotland plc, which operated the Bank of Scotland and Halifax (bank), Halifax brands in the UK, as well as HBOS Australia and HBOS Insurance & Investment Group Limited, the group's insurance division. HBOS was formed by the 2001 merger of Halifax (bank), Halifax plc and the Governor and Company of the Bank of Scotland, Bank of Scotland. The formation of HBOS was heralded as creating a fifth force in British banking as it created a company of comparable size and stature to the established ''Big Four (banks), Big Four'' UK retail banks. It was also the UK's largest mortgage lender. The HBOS Group Reorganisation Act 2006 saw the transfer of Halifax plc and Capital Bank plc to the Bank of Scotland, which had by then become a registered public limited company, Ban ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
The Money Programme
''The Money Programme'' is a finance and business affairs television programme on BBC Two which ran between April 1966 and November 2010. It was first broadcast on 5 April 1966 and presented by "commentators" (financial journalists) William Davis, Erskine B. Childers and Joe Roeber. The programme's theme tune was a version of the main title theme from '' The Carpetbaggers'' (1964) (which appeared on an album by jazz organist Jimmy Smith). By 1989, the programme was updated with a new theme by George Fenton, but an updated version of the original theme tune was re used again later on. The programme used a magazine style starting in the 1980s, but changed to a single subject documentary in 2001. More recently the programme has formed a partnership with the Open University Business School. The Open University provides input into programmes and supplementary materials written by OU Business School academics. On 1 June 2007, an episode of the ''Money Programme'' called "Virtual ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Mortgage Loan Fraud
A mortgage loan or simply mortgage (), in civil law jurisdictions known also as a hypothec loan, is a loan used either by purchasers of real property to raise funds to buy real estate, or by existing property owners to raise funds for any purpose while putting a lien on the property being mortgaged. The loan is " secured" on the borrower's property through a process known as mortgage origination. This means that a legal mechanism is put into place which allows the lender to take possession and sell the secured property ("foreclosure" or "repossession") to pay off the loan in the event the borrower defaults on the loan or otherwise fails to abide by its terms. The word ''mortgage'' is derived from a Law French term used in Britain in the Middle Ages meaning "death pledge" and refers to the pledge ending (dying) when either the obligation is fulfilled or the property is taken through foreclosure. A mortgage can also be described as "a borrower giving consideration in the form of ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Gaming The System
The letter of the law and the spirit of the law are two possible ways to regard rules or laws. To obey the "letter of the law" is to follow the literal reading of the words of the law, whereas following the "spirit of the law" is to follow the intention of why the law was enacted. Although it is usual to follow both the letter and the spirit, the two are commonly referenced when they are in opposition. "Law" originally referred to legislative statute, but in the idiom may refer to any kind of rule. Intentionally following the letter of the law but not the spirit may be accomplished by exploiting technicalities, loopholes, and ambiguous language. Legal research Violating the perceived intention (spirit) of the law has been found to affect people's judgment of culpability more so than the letter of the law, such that; # a person can violate the letter of the law (but not the spirit) and not incur culpability # a person can violate the spirit of the law and incur culpabil ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
