One who knowingly makes any deliberate misstatement, misrepresentation or material omission during the lending process could potentially be convicted of:_______

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27-07-2022
Social Studies

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One who knowingly makes any deliberate misstatement, misrepresentation or material omission during the lending process could potentially be convicted of:_______

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ahmadfardeen571 ahmadfardeen571 · Answer 1 · 2022-08-06T11:23:57+02:00

One who knowingly makes any deliberate misstatement, misrepresentation, or material omission during the lending process could potentially be convicted of Mortgage fraud.

Mortgage fraud is a willful misrepresentation or omission of information along with an overstatement of an ability to repay the loan or any such cloth facts, which leads the mortgage lenders to approve or loosen up the terms and conditions of the loan inclusive of the interest price or the compensation time table.

Mortgage fraud refers to any intentional deception or misrepresentation used to obtain a mortgage. It's far unethical, risky, and illegal. As a client or lender, one must take all vital measures from shielding itself from the fee of mortgage fraud.

Criminal charges may consist of fraud, forgery, uttering cast files, and the procession of belongings acquired through crime in relevant instances. all the crook fees related to fraud are very critical and presume up to ten years of imprisonment or maybe 14 years for critical fraud cases.

Learn more about Mortgage fraud here: https://brainly.com/question/23294592

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