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The Department of Justice has announced that mortgage fraud is one of its top priorities. In addition to mortgage fraud, the Department is focusing on predatory lending and scams taking advantage of homeowners whose mortgages are in danger of default or are in default. We represent individuals and companies charged with this type of fraud. We are willing to travel to any federal court nationwide or to represent you in state court in Oklahoma.
A typical mortgage fraud might involve a house that is not selling because of wear and tear or it is simply outdated or in a less desirable location. A real estate agent and appraiser might get together with a mortgage broker with a plan to artificially inflate the appraisal so that a new buyer could get a 100% loan (not available today) that would put cash back into the buyer's pocket for repairs and down payment -- all without the bank's knowledge. The mortgage broker, real estate agent, and appraiser would all get a share of the "cash" paid to the buyer at closing.
Predatory lending might involve an advance fee scam to "help" the borrower whose mortgage is in danger of foreclosure -- when there is really no benefit to the borrower.
ROUTINE MORTGAGE FRAUD SCAMS
Property Flipping - Illegal when combined with false appraisals, false loan documentation, altered loan documentations, kickbacks, etc.
Silent Second - Seller pays the down payment without knowledge of the lender.
Nominee Loans - Borrower's identity is concealed through use of straw buyers and/or using straw buyer's credit.
Identity Theft - Loan obtained with fake identification or based on a fictitious person or using another person's credit history without authority.
Inflated Appraisals - Appraiser artificially inflates property value in order to cover kickbacks to the parties or to obtain a larger loan.
Foreclosure Schemes - Predatory lending to those in danger of losing their homes or falsification of government or other "assistance" plans even though the scammer is not part of a legitimate credit counseling or mortgage work-out group.
Equity Skimming - Purchasing a property under a false name, then renting the property to a third party without ever making payments on the mortgage. Until default on the mortgage and eviction from the property, the scammer skims the equity from the property.
The Wyatt Law Office has represented clients charged with mortgage fraud. We represented the only person acquitted at trial of any charges in the Oak Tree mortgage fraud investigation in Oklahoma City. We are familiar with the real estate forms and the law interpreting the statutes related to this type of crime. We are also aware of the mortgage companies' participation and some of the causes that led to the mortgage crisis (i.e., 100% loans, "no docs" loans or "liars loans" that rely only on the borrower's statements and no other proof of income, false appraisals, etc)
We are prepared to defend you in any federal court nationwide or in state court in Oklahoma.
Recent & Noteworthy Investigations & ResultsMinimal Punishment. Client charged with three counts of mortgage fraud. Jury acquitted on 2 counts but returned guilty verdict on one count. Judge sentenced to 1 year and 1 day (resulting in 10 months imprisonment). All five other defendants convicted on all counts in this trial. One co-defendant sentenced to almost 9 years in prison. Wyatt's client received almost as little time as many who pled guilty.*
*Note:
Results
may vary because each case must be decided
on its own unique facts and the law applicable to that given case. You should
not infer the likelihood of success on a given case based on past cases
handled by this firm.
Office Locations
The Wyatt Law Office is located in the State's capital of Oklahoma City, which is situated in the middle of the state. Wyatt's office is just two blocks from the federal courthouse and four blocks from the Oklahoma County courthouse. We are less than 10 minutes from the State's appellate courts which are housed in the State Capitol complex. For federal criminal matters outside of Oklahoma, Oklahoma City offers easy connections to most major cities and both coasts from the Will Rogers World Airport. We also have good relations with lawyers statewide so that we can work in almost any venue in Oklahoma.
Mr. Wyatt is licensed in all of Oklahoma's federal courts including U.S. District Court Western District of Oklahoma (Oklahoma City), U.S. District Court Northern District of Oklahoma (Tulsa), and U.S. District Court Eastern District of Oklahoma (Muskogee).
Some of the cities served by the Wyatt Law Office in Oklahoma include: Oklahoma City, Del City, Midwest City, El Reno, Norman, Shawnee, The Village, Nichols Hills, Tulsa, Broken Arrow, Muskogee, Stillwater, Enid, Woodward, Altus, Lawton, Ft. Sill, Ponca City, Guthrie, Vance AFB, Tinker AFB. For other cities serviced, see Our Offices at the contact us page