Mortgage Enforcement Targets Lawyers
No lawyers apparently were among the 11 borrowers, sellers and real estate industry professionals arrested today in three separate alleged mortgage fraud schemes in South Florida. But attorneys are likely to find themselves on the wrong side of such cases in the future, authorities say.
”In the coming months, you will see more fraudulent mortgage brokers, title agents, attorneys, appraisers and others brought to justice,” said Miami-Dade Mayor Carlos Alvarez at a news conference about today’s arrests. The three cases involve $2 million in mortgages allegedly obtained with the help of “stolen identities, falsified mortgage documents and … fraudulent appraisals,” reports the Miami Herald.
Several attorneys have been charged in recent high-profile mortgage fraud cases in Florida and Georgia, as discussed in an earlier ABAJournal.com post. Authorities are focusing on prosecuting mortgage cases in light of alleged widespread fraud.
