NYC MORTGAGE FRAUD LAWYERS
Over 50 Years of Combined Experience

If you’re on this page, it’s likely because you or someone you love is facing mortgage fraud allegations—or fears charges are coming soon. Mortgage fraud is a serious offense that carries severe penalties, from steep fines to decades behind bars. At Spodek Law Group, we understand the gravity of these charges. Our legal team has over 50 years of combined experience and stands ready to help you, no matter how complex your situation may seem.

What Is Mortgage Fraud?

The FBI classifies mortgage fraud as a subcategory of financial institution fraud. In simplest terms, it’s any “material misstatement, misrepresentation, or omission” used to obtain a mortgage loan under false or deceptive pretenses. Some people commit this crime unwittingly—perhaps by stretching the truth on an application. Others commit it knowingly with elaborate, profit-driven schemes.

Mortgage fraud typically falls under three broad categories:

Spodek Law Group, P.C. - NYC Criminal Attorneys

5.0

Based on 745 reviews

George Fernandez

14:16 30 Apr 24

Excellent 10 out of 10, Helped resolve my case. Jeremy explained everything and made everything easy to understand.

Raj

21:33 24 Apr 24

If you are looking for a lawyer that listens, is aggressive where needed, and holds his word above all else, Todd is the best pick. I had hired multiple attorneys prior to hiring the Spodek Group for a white collar case. The first thing that stood out to me was the cost, as anyone going through the process and dealing with the system, money was tight at that time - especially after hiring and firing multiple lawyers. The cost was not as high as others which was definitely a plus. Todd's intake process was also unlike other attorneys. He took the time to actually listen. He cared. He was trying to put himself in my shoes while I was explaining the situation to him and he really took the time to understand the whole situation. Other lawyers will give you 15 mins and send you a retainer agreement. Not Todd, I think he spent almost two hours with me as I was explaining everything.Not only was he great during the onboarding process, he was supportive and very informative through the entire plea process and eventually sentencing. After hiring him, I asked if I should hire a prison consultant, he told me to save my money as he would do everything they would. He was right and held up to his word. Later on I would hear from others that went with the prison consultants that they were a waste of money - I am glad I listened to Todd!When it came time for sentencing, two days prior to sentencing, the prosecutor tried increasing my proposed prison time by almost double - apparently a normal move. Todd and his team worked with me non-stop through the weekend prior to sentencing to ensure that I was not given additional prison time. Again, he took the time to listen and came up with a strategy to explain the case with great detail.Unfortunately, I did plead guilty as that was my best option. Todd and his whole team wrote up nearly 300 pages of a summary of what happened and why I should not be given prison time. If I breakdown the amount I spent with Todd versus the amount of work that I saw being done, I am shocked I was not charged four times as much. The other benefit was, a lot of criminal defense lawyers were just a single attorney with a paralegal or two. Todd had a team of people that I dealt with (5-7 people that I interacted with), but he was ALWAYS accessible. It would never take him more than an hour to reply unless he was in court.I was sentenced to prison and I was emotionally distraught. Todd and his team did whatever they could even after sentencing to make sure I was alright. He personally stayed in touch with my family to ensure I was doing alright and offered support to them. Most lawyers would consider the job complete at sentencing, not Todd.After prison, Todd still spent time with me to make sure I was on the right track and avoiding any potential risks in the future. He has also been giving advice on how to navigate probation etc and has not been looking at the clock for billing.Although I wish I had never been arrested in the first place, I am glad I had Todd and his team in my corner. Without them I likely would have had to spend a lot more time in prison than I did.Thank you, Todd, and the entire Spodek Law team, for helping turn what was a nightmare into a manageable situation!

Yelva Saint-Preux

19:26 19 Apr 24

I am immensely grateful to the entire team at Spodek Law Group for their unwavering dedication and exceptional expertise throughout my case. From our initial consultation to the final resolution, their professionalism and tireless advocacy made all the difference. Their strategic approach and attention to detail instilled confidence in me every step of the way.Thanks to their hard work and commitment, we achieved a truly favorable outcome that exceeded my expectations. Not only did they navigate the complexities of my case with precision, but they also provided invaluable support and guidance during what was undoubtedly a challenging time. I cannot recommend Spodek Law Group highly enough, especially attorneys Todd Spodek and Claire Banks; they are beacons of excellence in the legal profession.YSP.

Katherine Sun

18:08 18 Apr 24

my lawyer is Alex Zhik. Efficient, patient and professional

Nun ya

17:48 18 Apr 24

Todd, Ralph and Alex are amazing. Helped my husband get from a double digit number with multiple charges to a single digit, by the time I blink he will be out. They very professional and help with all your needs. They dealt with my anxiety and worry very well and they understand that your family member needs to get home as soon as possible.

Keisha Parris

20:45 15 Mar 24

Believe every single review here about Alex Z!! From our initial consultation, it was evident that Alex possessed a profound understanding of criminal law and a fierce dedication to his clients rights. Throughout the entirety of my case, Alex exhibited unparalleled professionalism and unwavering commitment. What sets Alex apart is not only his legal expertise but also his genuine compassion for his clients. He took the time to thoroughly explain my case, alleviating any concerns I had along the way. His exact words were “I’m not worried about it”. His unwavering support and guidance were invaluable throughout the entire process. I am immensely grateful for Alex's exceptional legal representation and wholeheartedly recommend his services to anyone in need of a skilled criminal defense attorney. Alex Z is not just a lawyer; he is a beacon of hope for those navigating the complexities of the legal system. If you find yourself in need of a dedicated and competent legal advocate, look no further than Alex Z.

Taïko Beauty

16:26 15 Mar 24

I don’t know where to start, I can write a novel about this firm, but one thing I will say is that having my best interest was their main priority since the beginning of my case which was back in Winter 2019. Miss Claire Banks, one of the best Attorneys in the firm represented me very well and was very professional, respectful, and truthful. Not once did she leave me in the dark, in fact she presented all options and routes that could possibly be considered for my case and she reinsured me that no matter what I decided to do, her and the team will have my back and that’s exactly what happened. Not only will I be liberated from this case, also, I will enjoy my freedom and continue to be a mother to my first born son and will have no restrictions with accomplishing my goals in life. Now that’s what I call victory!! I thank the Lord, My mother, Claire, and the Spodek team for standing by me and fighting with me. Words can’t describe how grateful I am to have the opportunity to work with this team. I’m very satisfied, very pleased with their performance, their hard work, and their diligence.Thank you team!

K Mar

01:37 25 Jan 24

I recently had Spodek Law Group represent me for a legal matter in NYC and I am thoroughly impressed with their services.Alex Zhik secured the best possible outcome for my case.It was a seamless journey from the initial consultation to the resolution of my legal matter. From the moment I spoke to Todd about my case, his enthusiasm to help was evident, setting a positive tone for the entire experience. The efficiency and professionalism displayed by the team is commendable.A particularly noteworthy aspect of their service is their user-friendly portal to upload your documents/evidence. This not only simplified the process, but showcases their commitment to streamline the client experience.Lastly, in an industry where legal fees can often be a concern, I found their pricing to be very reasonable, making needing legal assistance feel accessible and stress-free.I am grateful for their support and wouldn't hesitate to turn to them again in the future.

1. Fraud for Housing
   • Often perpetrated by a borrower who wants to purchase a home they cannot truly afford.
   • May involve small “fibs” on income statements or more elaborate falsifications of documents.
   • Typically driven by desperation or hope, rather than the calculated intent to defraud.
2. Fraud for Profit
   • Commonly executed by real estate insiders—loan officers, appraisers, and investors—who exploit industry knowledge.
   • Complex, high-dollar schemes often reported in major news outlets.
   • Can include inflated appraisals, flipping properties without making real improvements, and other sophisticated scams.
3. Fraud for Criminal Enterprise
   • Frequently secondary to larger criminal activities, such as money laundering.
   • The goal here isn’t homeownership; it’s concealing unlawful funds through real estate transactions.

Regardless of the category, if you’re under investigation or charged with mortgage fraud, you need experienced representation immediately.

Criminal Charges & Potential Penalties

There are no dedicated federal statutes named “mortgage fraud.” Instead, prosecutors rely on a patchwork of federal laws—each with its own harsh penalties. Below are some of the most common charges:

• Mail Fraud
  • Involves using the U.S. Postal Service to send falsified or misleading documents.
  • Punishable by up to 20 years in prison.
• Wire Fraud
  • More prevalent than mail fraud in mortgage fraud cases since most documents and funds transfer electronically.
  • Carries a maximum 20-year prison sentence.
• Bank Fraud
  • Used if the victimized party is a financial institution.
  • Maximum penalty is 30 years in prison.
• Interstate Transportation of Funds Obtained by Fraud
  • Targets the movement of at least $5,000 in fraudulently obtained funds across state lines.
  • Comes with up to 10 years in prison.
• False Statements to a Financial Institution
  • Involves lying about finances, assets, or income to secure a more favorable loan or interest rate.
  • Punishable by up to 30 years in prison and fines up to $1 million.
• Money Laundering
  • Can be charged when prosecutors allege you used housing transactions to clean illicit funds.
  • Carries up to 20 years of prison time.
• Conspiracy
  • Enables prosecutors to describe elaborate, multi-person fraud rings in great detail.
  • May carry a 30-year sentence.

Often, you’ll face additional charges—like identity theft or making false statements to government agencies—depending on how the alleged fraud was carried out. If you are convicted, the judge may impose longer sentences under aggravating circumstances, like large-scale operations or prior convictions.

Serious Charges Require Serious Representation

Mortgage fraud is a high-stakes, complicated area of law, involving multiple statutes and overlapping agencies. It’s easy to feel overwhelmed. That’s why hiring an experienced defense team is critical. At Spodek Law Group, we leverage decades of combined experience to evaluate, strategize, and fight for your rights at every turn.

• We’re Available 24/7: Legal crises don’t respect business hours. We make sure you can always reach us.
• Nationwide Support: Our attorneys have experience handling complex fraud cases from coast to coast.
• Client-Centered Approach: We believe every defendant deserves honesty and dedication. We pride ourselves on transparent communications, thorough case evaluations, and fierce advocacy.

No attorney can promise a guaranteed win, but at Spodek Law Group, we put the odds more in your favor with smart, calculated defense strategies. The stakes are enormous when you’re confronting potential decades behind bars and hefty financial penalties—you need a defense team that is as serious as the charges you face.

Mortgage Application Fraud Lawyers

Mortgage fraud often starts at the application phase. Whether you’re a borrower stretching the truth, or a professional accused of misrepresenting property values, an innocent error can spiral into felony charges if not handled correctly. Our lawyers have the experience to dissect your case and show that there was no criminal intent, or that you never had the specific knowledge required for a conviction.

Multiple Points of Origin

• Applicants: Borrowers sometimes inflate their incomes or lie about employment to secure higher loans.
• Real Estate Professionals: Agents or brokers might manipulate property details or appraisals to close a sale.
• Mortgage Brokers / Appraisers: May omit or fabricate data, driving profits for themselves or partners.

Red Flags Indicating Fraud

• Inconsistent Information: Data on an application that conflicts with other records.
• Omissions: Failing to include material details that would likely affect the loan’s outcome.
• Missing Documentation: Promising to provide certain documents later but never producing them.

Penalties for Mortgage Application Fraud

Mortgage fraud charges often fall under the Fraud Enforcement and Recovery Act of 2009 (FERA). In New York, judges also look at whether the applicant’s motive was securing a basic necessity (like housing) or flipping a quick profit. Penalties can include:

• Fines: Up to $100,000, based on severity.
• Prison Sentences: Up to 30 years, depending on specific charges and aggravating factors.

Building a Strong Defense

Your best defense is proving a lack of criminal intent. You might have simply made an error while compiling extensive paperwork—no malicious intent, no crime. We understand what it takes to prove that oversight is not fraud, and our legal team will fight relentlessly to defend your rights.

Title Fraud Lawyers

Title Fraud is another high-risk area that can lead to life-altering penalties. This offense involves improperly changing or transferring title ownership without legitimate authority—sometimes through false promises or outright identity theft.

What Is Title Fraud?

• Impersonating the property owner to transfer ownership.
• Convincing the rightful owner to sign over the title using deceptive claims.
• Selling a property under false pretenses, causing financial harm to multiple parties.

Title Insurance Fraud

• Misappropriating Title Insurance Premiums: Failing to issue an actual policy after taking payment.
• Misrepresenting Title Defects: Deceiving underwriters or policyholders for personal gain.

Penalties for Title Insurance Fraud

Penalties vary based on state and federal statutes, and whether a bank or insurance company is the direct victim. You could face:

• State-Level Offenses: Ranging from misdemeanor to felony charges, with possible prison time.
• Federal Charges: Bank fraud, conspiracy, mail, or wire fraud—each with the potential for significant prison terms and staggering fines.

Getting Help

At Spodek Law Group, our attorneys have deep experience in real estate fraud cases, including title fraud and related insurance offenses. We’ll look for opportunities to have charges dismissed or significantly reduced, and if necessary, we’ll stand by your side throughout trial to protect your rights.

Mortgage Insurance Fraud Defense

Mortgage insurance allows lenders to protect themselves when borrowers make smaller down payments. When someone obtains or uses mortgage insurance fraudulently—perhaps by lying about income or staging a short sale to get out from under debt—serious criminal charges can follow.

What Is Mortgage Insurance Fraud?

• False Statements: Misrepresenting your employment status or assets when applying for a mortgage loan that requires PMI (Private Mortgage Insurance).
• Short Sale Manipulation: Claiming financial hardship or presenting an artificially low property value to secure short-sale approval.

Prosecutors must prove that you intentionally misled a lender or insurer to obtain coverage or benefits. If convicted, you could face decades in prison and massive fines, especially if bank or wire fraud charges apply.

Appraisal Fraud Lawyers

Appraisal fraud can happen when a home’s value is either inflated or minimized to deceive lenders, insurance companies, or other interested parties.

Common Appraisal Fraud Scenarios

1. Inflated Values
   • Appraisers overstate property values, enabling owners to refinance or obtain home-equity loans beyond the true worth.
2. Builder Bailout Schemes
   • Inflated appraisals to help a builder show artificial profits or qualify for bigger lines of credit.
3. Understating Property Values
   • Used in short sale fraud, buying a home at a low price so the bank takes a bigger loss, then quickly flipping it at market value.

Penalties for Appraisal Fraud

• Loss of Professional Licenses
• Federal or State Criminal Charges
• Civil Lawsuits & Financial Restitution
• Potential 30-Year Prison Terms and fines up to $1 million under bank or wire fraud statutes.

Why Choose Spodek Law Group

Nationwide Service
We handle real estate fraud cases across the United States, offering a network of resources to build the best possible defense.

Award-Winning Legal Team
Our attorneys have been recognized for excellence and have appeared on major media outlets for legal insights. When the stakes are high, experience matters.

Personalized Attention
We keep our caseload selective, ensuring our team can dedicate the focus and time your case deserves. We treat every client with empathy, respect, and unwavering commitment.

Risk-Free Consultation
Call us 24/7 for a thorough, confidential case evaluation. We’ll discuss potential strategies and how we can fight for your future.

Accused of Mortgage Fraud? Talk to Us—We Can Help

Mortgage fraud isn’t always black and white. A single oversight in a sea of paperwork or an unintentional omission can lead to devastating consequences. At Spodek Law Group, we dig deep into the details—examining every angle to ensure the strongest defense possible. If you’re facing charges related to mortgage, title, insurance, or appraisal fraud, reach out to us immediately.

We’re here to protect you, your rights, and your future. Schedule a risk-free consultation today and let us show you why clients nationwide trust Spodek Law Group when their freedom and reputation are on the line.