Legal Question in Real Estate Law in Maryland
Liability in Lending Investigation
I applied for a refinance loan. There is a question on the authenticity of a letter provided. This is holding up the approval process. The lending institution is initiating a fraud investigation. Can I be held responsible and what are possible consequences?
1 Answer from Attorneys
Re: Liability in Lending Investigation
It's difficult to answer your question since you left out many details, but if you solicited a false statement from someone so you could qualify for the loan, you could be held responsible. If the potential lender is federally chartered, federal criminal laws come into play. Whether the lender, if it is determined that you knowingly obtained a false statement, would refer the matter for prosecution, as opposed to simply denying you the loan and closing their file, depends upon their policy in such matters.
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