Long Island Federal Mortgage Fraud Lawyer

Federal Mortgage Fraud Attorney in Long Island, NY

New York is home to some of the most expensive real estate in the country, and it makes it one of the top spots for mortgage fraud schemes. If you are facing federal mortgage fraud charges, it is essential to contact a Long Island federal mortgage fraud lawyer at the Law Office of Jonathan Savella as soon as possible to discuss your case. The sooner you act, the sooner we can begin building your defense.

Trying to understand federal mortgage fraud laws on your own can be daunting, and you do not want to handle the severe consequences of federal mortgage fraud charges without the help of a lawyer. The good news is that you do not have to. Instead, contact our law firm to discuss your case with our skilled attorney. We can help reduce charges and minimize penalties.

How the Law Office of Jonathan Savella Can Help

At the Law Office of Jonathan Savella, we understand the complexities and high stakes involved in a federal mortgage fraud claim. When you hire a federal mortgage fraud lawyer at our firm, you are hiring a Long Island federal mortgage fraud attorney with 16 years of experience working on complex state and federal cases who can aggressively litigate for you.

We also help with the court system. When your Long Island federal mortgage fraud case goes through the Suffolk County Court on Center Drive, our legal team can help with every stage of the process, meeting all important deadlines and requirements. The court may be intimidating, but our legal team can be by your side to answer any questions and clarify any details.

What Is Mortgage Fraud?

Mortgage fraud is the intentional act of providing false, misleading, or omitted information on a loan application to influence a lender into approving a mortgage that they otherwise might not. It is a white-collar crime that is persistent throughout New York due to the high value of real estate. There are several types of mortgage fraud, and penalties are heavy.

Common examples of mortgage fraud include:

• Straw buyer
• Income/employment fraud
• Occupancy fraud
• Property flipping
• Appraisal fraud
• Identity theft
• Foreclosure rescue scams
• Shotgunning
• Non-disclosure
• Churning

Mortgage fraud is more common than you might think. Approximately 1 in 118 mortgage applications has indications of fraud. In general, charges related to mortgage fraud tend to fall under three categories: fraud related to housing, fraud related to profit, and fraud related to criminal enterprises. If you find yourself under investigation for mortgage fraud, it is essential to seek legal counsel to build a strong defense.

Federal Mortgage Fraud Defense in Long Island

Mortgage fraud defense in Long Island involves challenging accusations of material misstatements, omissions, or intent to deceive lenders, often requiring the assistance of a knowledgeable Long Island federal mortgage fraud attorney. Key strategies include proving a lack of fraudulent intent, showing inaccuracies were not material, or establishing that the statute of limitations has expired.

Your attorney may also be able to demonstrate that you did not provide any false information to secure a loan or show that the lender did not rely on misrepresentations or false information to make their decision. These strategies depend on the individual circumstances of your case, and you can discuss your options further during your consultation.

Federal Mortgage Fraud Penalties

Mortgage fraud penalties are severe, often involving federal charges with up to 30 years in prison, $1 million in fines, and mandatory restitution. Penalties depend on the scope and intent. Probation is also possible, but less common than imprisonment. Due to the severity of the penalties, it is essential to contact a federal mortgage fraud lawyer to discuss your case.

Avoiding prison is possible but uncommon, with 84.7% of mortgage fraud offenders facing prison sentences, and the average sentence length being 22 months. Penalties can also have lasting effects on your permanent record and reputation. Due to the severe nature of the crime, finding the right legal representation is critical to protecting your rights and future freedom.

Why Should I Hire a Federal Mortgage Fraud Lawyer?

Hiring a Long Island federal mortgage fraud lawyer at the Law Office of Jonathan Savella is critical because these cases involve severe, complex, and high-stakes federal charges, often with the potential for years in federal prison and heavy fines. An experienced attorney can help you navigate federal mortgage fraud laws and act as a protective shield, developing a defense against charges you are facing.

FAQs

Who Prosecutes Mortgage Fraud at the Federal Level?

Mortgage fraud at the federal level is prosecuted by the United States Department of Justice (DOJ) through local attorneys’ offices, often supported by investigations from the FBI, HUD Office of Inspector General, and the Federal Housing Finance Agency (FHFA). These entities target industry insiders and borrowers involved in fraud for profit or housing.

What Is the Federal Law for Mortgage Fraud?

Federal mortgage fraud is primarily prosecuted under 18 U.S.C. § 1014, which criminalizes knowingly making false statements or overvaluing property to influence a federally insured institution. The law applies to loan and credit applications generally, renewals and discounts, and crop insurance. Violations often involve fraud for profit or housing, with penalties up to 30 years in prison and $1 million in fines.

When Should I Contact a Federal Mortgage Fraud Lawyer?

Contact a federal mortgage fraud lawyer immediately if you are under investigation, received a subpoena, or suspect you are implicated in fraudulent loan activities. A skilled federal criminal defense lawyer can intervene pre-charge to potentially stop an indictment, manage contact with investigators, and prevent self-incrimination. Early intervention by legal counsel can prevent charges and protect rights.

How Does Mortgage Fraud Get Investigated?

Federal agencies such as the FBI, HUD-OIG, and FHFA investigate mortgage fraud through analyzing suspicious activity reports (SARs), loan audits, and forensic accounting. Investigations focus on detecting material misstatements on loan applications, such as falsified income or fraudulent appraisals, often initiated after loan defaults. Investigations can take several months to several years, depending on the complexity of the fraud.

Schedule Your Free Consultation Today

When you need a Long Island federal mortgage fraud lawyer to help you navigate complex laws and to handle the federal mortgage fraud claim against you, the Law Office of Jonathan Savella has the extensive experience you need in criminal law. Using our knowledge and resources, we can build a strong defense for you. Contact us to schedule your free consultation today.