When a person completes a real estate transaction that they perceived to be legitimate, it can come as a huge shock if they are suddenly accused of criminal mortgage fraud in Arizona. Even if a person is not necessarily aware that their actions were illegal at the time they obtained the mortgage, they can still be charged with fraud. Mortgage fraud can come in many different forms, and the potential consequences if convicted depend greatly on the circumstances of the case. According to Arizona law (A.R.S. 13-2320), a person commits residential mortgage fraud if they:
- Deliberately misstate, misrepresent, or omit material during the mortgage lending process that is relied on by another party (such as a mortgage lender or borrower).
- Knowingly use or facilitate the use of any material that has been deliberately misstated, misrepresented, or omitted during the mortgage lending process that is relied on by another party;
- Receive proceeds or money associated with a residential mortgage loan that they know resulted from a violation;
- File or are associated with the filing of a residential mortgage loan document that they know to contain an intentional misstatement, misrepresentation, or omission of material.
In some cases, individuals in Arizona are accused of committing mortgage fraud despite the fact that their actions were unintentional. If you are currently under investigation for or have been arrested for mortgage fraud in Phoenix’s East Valley, you must make sure that you consult with an attorney who has experience defending white collar crimes. At JacksonWhite, our criminal defense attorneys understand the lengthy analysis and complex investigative work associated with mortgage fraud cases. We go the extra mile for all of our clients and handle cases with confidentiality and sensitivity. To schedule a free confidential consultation with a qualified white collar crime attorney, call (480) 467-4370.