Lexington Mortgage Fraud Defense Attorney
Have you been charged with mortgage fraud?
The first thing you need to do after you’ve been arrested for mortgage fraud, is to call a Cooley, Iuliano, Robey PLLC fraud attorney at 859-636-6803. Each of our partners is a member of the National Association of Criminal Defense Lawyers, as well as the Kentucky Bar Association.
Our skilled mortgage fraud defense attorneys are always prepared to do a full investigation and defend your case, all while protecting your rights from the prosecution while they pursue their mortgage fraud case against you. Our mortgage fraud law firm and mortgage fraud attorneys are going to make certain that the Commonwealth of Kentucky is held to their burden of providing their case beyond a reasonable doubt.
What is mortgage fraud?
A mortgage is a loan for buying a property, and it is a transaction involving several individuales, from mortgage lenders, to mortgage brokers, a solicitor, sometimes the federal government, and of course, home owners.
Both Kentucky and federal law punish anyone that is involved in defrauding the mortgage process. A mortgage is a key piece of the American dream of buying a home or any property. Fraud in mortgages occurs when one or more of those involved in a mortgage transaction, and that can be the borrower, the loan officer in charge of the mortgage, the real estate agent, the attorney, or any party involved in the process of trying to secure a loan with false information. The borrower can be charged with mortgage fraud if they mislead a bank in their application, knowling and unlawfully, or if a real estate agent or loan officer also helps in the fraud in the hope of getting a commission of the fraudulent mortgage.
These are just some of the ways mortgage fraud can be prosecuted and identified under the Kentucky Residential Mortgage Fraud Act.
If you are being accused of a Mortgage Fraud crime, finding experienced professionals like Lexington KY criminal defense attorney or a Mortgage Fraud lawyer immediately after your arrest is where you should start in taking control of your future right away.
Get Your Free Consultation Now
Types of Mortgage Fraud Charges & Penal Codes in Kentucky
White collar crimes in Kentucky are non-violent offenses that involve fiscal matters such as fraud, money laundering, tax evasion, insider trading, identity theft and others, normally carried out by people in business or government. Being accused of a white collar crime is enough to ruin your reputation and your livelihood, which is why you would want a white collar crime lawyer or mortgage fraud lawyer as soon as you’re accused.
(1) This section shall be known and cited as the “Kentucky Residential Mortgage Fraud Act.”
(2) A person is guilty of residential mortgage fraud when, with the intent to defraud, that person does any of the following in connection with the mortgage lending process:
(a) Employs a device, scheme, or artifice to defraud;
(b) Engages in any act, practice, or course of business that operates or would operate as a fraud or deceit upon any person;
(c) Fails to disburse funds in accordance with a loan commitment;
(d) Knowingly makes or attempts to make any material misstatement, misrepresentation, or omission within the mortgage lending process with the intention that a mortgage lender, mortgage broker, borrower, or any other person or entity involved in the mortgage lending process relies on it;
(e) Knowingly uses or facilitates or attempts to use any misstatement, misrepresentation, or omission within the mortgage lending process with the intention that a mortgage lender, borrower, or any other person or entity involved in the mortgage lending process relies on it;
(f) Receives or attempts to receive proceeds or any other funds in connection with a residential mortgage closing that the person knew, or should have known, resulted from a violation of paragraph (a), (b), (c), (d), or (e) of this subsection;
(g) Knowingly causes to be filed with the commissioner or in any proceeding under this subtitle any document that is, at the time and in the light of the circumstances under which it is made, false or misleading in any material respect; or
(h) Conspires or solicits another to violate any of the provisions of this subsection.
(3) It shall be sufficient in any prosecution under this section for residential mortgage fraud to show that the party accused acted with the intent to deceive or defraud. It shall be unnecessary to show that any particular person or entity was harmed financially in the transaction or that the person or entity to whom the deliberate misstatement, misrepresentation, or omission was made relied upon the misstatement, misrepresentation, or omission.
(4) In any criminal proceeding brought under this section, the crime shall be construed to have been committed:
(a) In the county in which the residential real property for which a mortgage loan is being sought is located;
(b) In any county in which any act was performed in furtherance of the violation;
(c) In any county in which any person alleged to have violated this section had control or possession of any proceeds of the violation;
(d) If a closing occurred, in any county in which the closing occurred; or
(e) In any county in which a document containing a deliberate misstatement, misrepresentation, or omission is filed with the official registrar of deeds or with the Division of Motor Vehicles.
(5) Upon referral by the commissioner, the Kentucky Real Estate Commission, the Attorney General, the Kentucky Board of Appraisers, or other parties; or upon its own investigation of available evidence concerning any violation of this subtitle; the proper Commonwealth’s attorney or district attorney may institute the appropriate criminal proceedings under this section.
(6) Unless the conduct is prohibited by some other provision of law providing for greater punishment, a violation of this section involving a mortgage loan is a Class D felony for the first or second offense and a Class C felony for each subsequent offense.
(7)
(a) All real and personal property of every kind used or intended for use in the course of, derived from, or realized through a violation of this section shall be subject to forfeiture to the Commonwealth. However, the forfeiture of any real or personal property shall be subordinate to any security interest in the property taken by a lender in good faith as collateral for the extension of credit and recorded as provided by law, and no real or personal property shall be forfeited under this section against an owner who made a bona fide purchase of the property without knowledge of a violation of this section.
(b) In addition to the provisions of paragraph (a) of this subsection, courts may order restitution to any person who has suffered a financial loss due to violation of this section.
(8) In the absence of fraud, bad faith, or malice, a person shall not be subject to an action for civil liability for filing reports or furnishing other information regarding suspected residential mortgage fraud to a regulatory or law enforcement agency.
(9) Nothing in this subtitle shall limit the powers of the state to punish any person for any conduct that constitutes a crime.
(10) The court may assess a fine of not less than one thousand dollars ($1,000) nor more than five thousand dollars ($5,000,) against any person who is convicted of violating any provision of this section.
(11) Any person who knowingly engages in the business of residential mortgage lending regulated by this subtitle without first securing a license or registration therefore shall be guilty of a Class A misdemeanor.
If you or someone you care about has been charged with a mortgage fraud charge in Kentucky, contact our reputable criminal defense lawyers or mortgage fraud lawyers as soon as possible by calling 859-636-6803.
Penalties in Mortgage Fraud Cases
Penalties for white collar crimes could range from very expensive fines to long prison sentences. Even if the most common punishment is time in minimum-security prisons, there’s no reason it can be something even harsher, especially if substantial amounts of money are involved. White collar crimes like tax fraud, credit card fraud, insider trading and fraud against the government are harshly punished and sometimes even handed over to federal prosecutors. For mortgage fraud charges, depending on their seriousness, and whether the crime is classified as a misdemeanor or a felony is detailed in their individual statutes in Kentucky Revised Statutes.
Take mortgage fraud offenses and allegations seriously and get professional legal representation in an expert local mortgage fraud lawyer as soon as possible to see to your case.
Misdemeanor
In the US, A misdemeanor is a crime punishable by less than a year in prison, and sometimes there are only heavy fines involved, probation, or other sentences less harsh than with felonies. The consequences for someone guilty of a crime punishable by a misdemeanor are;
- Class A misdemeanors – 90 days to 12 months jail time, including a monetary fine that can cost up to 500 dollars , and
- Class B misdemeanors – up to 90 days jail time, including a monetary fine up to 250 dollars
Nonetheless, they are a stain on your permanent record and can change your life for the worse, which is why you need the best mortgage fraud attorney you can get. A competent mortgage fraud defense attorney can get your case dismissed, charges filed against you dropped, or fight for an expungement of your misdemeanor conviction altogether.
Felony
A felony is the most serious type of crime, and hence, they offer the most serious punishments, with years in prison. They are divided (like misdemeanors as well) into classes. The imprisonment terms for each class of this offense are;
- Class A – 20 to 50 years, or even life imprisonment,
- Class B – 10 to 20 years,
- Class C – 5 to 10 years, and
- Class D – 1 to 5 years
All serious crimes, except murders (they have their own punishments), are classified as felonies.
It’s also important to point out that former convictions of this degree matter. If district court investigations and records show you are a “persistent offender,” then it’s very likely you’ll be facing a longer prison term vs someone guilty of the same crime without records of a prior felony conviction. (Ky. Rev. Stat. Ann. § 532.080 (2019 ).). If this is the case, it is advised for you to share this information with your mortgage fraud defense lawyer at the earliest.
A person found guilty of a felony in states like Kentucky will also need to pay a fine costing between 1,000 dollars and 10,000 dollars. Or, if it applies, double any gain from committing the offense. In the event that it does, the district court usually orders whichever amount is greater to be paid (Ky. Rev. Stat. Ann. § 534.030 (2019 ).).
It’s difficult facing offenses as serious as this alone, especially since these have long-lasting consequences on a person’s life once convicted. Which is why hiring expert mortgage fraud defense attorneys with adept insights and resources are essential. It’s also good advice to hire mortgage fraud lawyers who pay close attention to create a great working attorney client relationship with the people and cases they take on. Experienced mortgage fraud attorneys will know what to expect including with the best way to protect your rights, or avoid a conviction altogether.
Federal
In the United States, more than other crimes, white collar offenses are usually prosecuted by federal authorities. The FBI is responsible for processing those accused of federal white collar crimes. Federal white collar charges result when they transpire on or against federal property and institutions, but they are mostly a federal offense because they normally involve financial institutions and businesses across several states. Some of these offenses include, but are not limited to, money laundering, tax evasion, election law violations, embezzlement, and several types of fraud, like mortgage, bank, health care, mass marketing, securities, and commodities, and corporate fraud. People in business or government are the vast majority of those arrested for white collar crimes. These are not victimless crimes.There can be billions of dollars at stake, along with the livelihoods of thousands of people. The penalties for white -collar crimes can range from a simple fine to jail time of a few years. The punishment will depend on the extent of the money involved, people affected, and even the social implications of your crime. You will immediately need a federal mortgage fraud lawyer if you are facing mortgage fraud charges in Kentucky or anywhere else.
You need an experienced criminal defense lawyer that specializes in mortgage fraud defense
All of our criminal mortgage fraud attorneys at Cooley Iuliano Robey, PLLC are members of the National Association of Criminal Defense Lawyers as well as the Kentucky Bar Association, with decades of experience in matters of mortgage fraud charges and mortgage fraud defenses or other practice areas. We value the best interest of every client, above all, and with our insights about law, we can create new defense opportunities in your case, no matter how minor. When it comes to mortgage fraud crimes, you need mortgage fraud attorneys who will fight for your constitutional rights, and start by doing an evaluation of every evidence and detail of your case content, no matter how inconsequential they may be. We will then create the best defenses in your trial and strive to avoid the harshest sentence or any penalties at all.
Free Consultation & Case Review from our experienced mortgage fraud lawyers
At CIR Legal, our mortgage fraud attorney’s mortgage fraud defense services include offering free consultation and case review to potential clients or otherwise. Our mortgage fraud attorneys have fought and will always strive to fight for the rights of every defendant in the state of Kentucky, no matter the type of offense. Call our law office at 859-636-6803 or fill out our form for a free consultation, be it pm or am.
Get Real Help By Calling 859-636-6803
CIR LEGAL
Our Promise To You
|
Our promise to you is based on a simple principle – focus on your goals and achieve exceptional results. You have trusted us to represent your interests in one of the most important events in your life, and we will not let you down.
We will always keep you informed about your case. We will always explain a clear path forward, and provide you with an understanding of “what to expect” at each step. We will always be directly accessible to you and promptly respond to any questions you may have.
We promise to always advocate for you and your interests. No matter what issue you’re facing – you’ll always have a team of attorneys in your corner ready to fight for you.
