Monthly Archives: April 2017

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Real Estate Lawyer Explains Utah Foreclosure Laws

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The role that the Real Estate Attorney plays in the selling of your home by for sale by owner makes him/her a necessary addition to your team. Like any other aspect of the law, real estate law should be left to the professionals. Unless you are legally entitled to practice Real Estate law in your State/Province you need professional help. Below are some of the details that your Attorney/Lawyer will take care of.

Your Attorney/Lawyer will review the contract of purchase and sale and advice of potential problems. The seller is typically responsible for preparing the transfer, which is the document that transfers the title of the land from the seller to the purchaser.

They will review transfer documents received from the buyers lawyer, which includes the statement of adjustments which shows credits and debits for seller and buyer, for items such as purchase price, property tax, strata fees where applicable, water account, tenant rent or damage deposits, commissions to be paid to Real Estate Agents, down payment paid by buyer and transfer of title.

They will converse with the buyers Lawyer if necessary and resolve any problems or concerns regarding title issues and or accuracy of figures. Obtain a mortgage balance statement from the seller's mortgage lender to determine the amount necessary to pay and clear the mortgage balance on the day of closing.

If you are selling one property and purchasing another property with closings on the same day, you may need to arrange interim financing. This is a temporary loan to ensure that monies are in place to complete your purchase.

As you can plainly see the Attorney/Lawyers role is vital to the sale of your home. Make sure you have one on your team before you attempt to sell your property.

Real Estate Lawyers are standing by for your telephone call !

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Utah Real Estate Lawyer - When Renting Out Your Property, How Much Should You Keep in Reserves?

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Utah allows for both in court or judicial and out of court or non judicial foreclosures. As in most states where both processes are used, the vast majority of foreclosures are non judicial. The language in most mortgages or deeds of trust allow for this with a power of sale clause.

In the absence of the power of sale clause judicial or court process must be followed. This takes a lot longer. In judicial foreclosure, the bank must file a complaint with the court against the homeowner. They do this to get a decree of sale from the judge. When the court determines that the borrower is in default, they will give the homeowner a period of time in which they can come up with the amount that is past due, plus costs and attorney fees. If the homeowner can do this in that time frame. If the homeowner can do this in that time frame the can avoid a foreclosure and keep their home. If they do not come up with that money in the allotted time, an auction will be held and the property will be awarded to the highest bidder.

Most homes that go to auction in Utah and most other states as well, are not bid on because so much is owed on the home, that it is not a good enough deal for the bidders. In this situation, the home is awarded to the lender. In other words, it goes back to the bank, and they have to try to sell it again. This is time consuming and expensive for the bank.

The vast majority of foreclosures in Utah are taken care of non- judicially. That means that there is a power of sale clause in the mortgage or deed of trust.

In such an out of court foreclosure, a notice of sale must be published for three consecutive weeks in a local paper. The final advertisement in this series must be placed a minimum of 10 days prior to the scheduled sale date. It can not be placed any further out from the sale date than thirty days.

This same notice of sale must be posted two other places, no later than twenty days in front of the scheduled sale date.

The required placing of these public postings of notice of sale are at the county recorders office in the county where the home is located and on an easy to find place on the home itself.

This notice of sale must contain the place, date, and time of the scheduled sale. This place is always on the courthouse steps and the time is always between 8 am and 5 pm.

Home owners do have a right of redemption period Utah. This is a time when they can legally re-purchase that home after it has been sold at the trustee's sale. In Utah, a judge can even extend that right of redemption period. This almost never happens, but it does make the former owner feel like he could get his house back, if he wanted to.

Deficiency judgments are allowed in Utah. This gives the bank the right to pursue the home owner, for any amount of difference between what the home sold for at auction, and what was owed on the loan.

In Utah, the bank even has the right to seize the property until they have received this amount of money. I have never heard of this occurring, but it is allowed.

Real Estate Lawyers are standing by for your telephone call !

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real estate power of attorney Salt Lake City Utah 84199

Commercial Real Estate Lawyer - How to Avoid Costly Mistakes

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Buying a house usually is at the top of the list of most couples or any individual that knows the value of having a beautiful and sturdy home that could last a lifetime of wear and tear from its owner.

This is where dreams are made of. A young family may have plans of purchasing their first home based on certain ideals or categories.

People with highflying careers that prefer living in the city opt for the condominium type ones. While old-fashioned, country-hearted individuals prefer the farm type or the suburban neighborhood ones.

Below are some of the things that must be taken into considerations before any purchase is made.

1. Accessibility

If the family owns a car or any mode of transportation that would enable them to easily reach common needed destinations such as the grocery store, school, church or the hospitals, this is a plus point.

2. Income

What better way to gauge any purchase to be made than to weigh one's capability to pay for the same.

Home mortgages must be within the monthly budget of the family or couple, allowing still, some portion for the payment of basic needs or bills such as electricity, fuel and water.

3. Location
Is the neighborhood a safe one? Is its near a school, hospital or the grocery (most that should be considered if one does not own a car)?

But whatever one's preference over a house is, usually at one point in time or another, he or she (or the whole family) might have the idea of reselling it for various reasons.

This may be due to one or more of the following:

- Relocation. A job offer at another state (for an individual or to that of his or her spouse or partner) more often than not requires relocation. This would entail moving on to a house closer to the place of work to avoid stress in going to and from work.

- Financial capacity. Not all high end careers last forever. Should an individual or couple suffer from financial burdens, most move to a house that costs less to maintain.

Likewise, a promotion or a surge in the income may also prompt a move, that is, to a much larger house that is much favored by the individual or which can accommodate a growing family.

- Deterioration. Should a house need constant repair, it the puts a strain to the financial standing of a family, thus, most prefer to move to a much smaller one that does not require costly maintenance.

- Natural calamities. If a place is usually hit by tornadoes, storm or is always flooded, the natural tendency of most would be to move to another house that is not subjected to these problems.

All of the stated information above might prompt any individual or family to sell the house and move to another location.

But reselling of one's house is not an easy task. It requires great planning to ensure that it would be attractive to prospective buyers, and be able to fetch the highest value possible.
.
Here are some pointers to raise the value of one's house before it is put up for sale:

1. Repair. Anything that needs to be repaired should be attended to. Is the bathroom faucet leaking? Is the stair baluster disengaged? Or does the roof have cracked where leaking occurs during rainy days?

All of these problems should be attended to. A house that has no, if not very little repair, is more attractive than a moldy, leaky one.

2. Clean out the attic. Family mementos that are usually forgotten are often put up in the attic. Most times, people think that it has lost it value, only to find out later that they have found a use (or an emotional need) to have it again.

Be sure not to leave anything of great importance that might not be retrieved. Also, it is a sign of courtesy to the next occupant. Let them have a roomy attic to store their less needed stuff.

3. Clear out the weed. This would make the place look larger and more appealing. A little well-maintained garden usually is eye-catching and would surely attract buyers that love these kinds.

4. If furniture and other equipment is included in the sale, make sure that everything is in its good working condition.

It would be advisable if wood furniture are polished, or silver and brass items gleaming.

5. Clean. If not everything is in perfect condition, at least make sure that everything else is clean. If bedroom linens are included, make sure that it is stain-free.

6. Water and electrical wirings. The lights should be functioning well and water faucets running at full strength when opened.

7. Windows. These should have the proper locks and no broken glasses.

8. Flooring. If carpets were used, a stained one would surely be a sore to the eyes. If it cannot be replaced, at least remove the stains.

9. Doors. Most especially the main door, it should be in good condition

10. Most importantly, the individual or the family must be emotionally ready to let go of the house, because believe it or not, when one thinks about childhood memories or happy moments, a house is usually included.

Real Estate Lawyers are standing by for your telephone call !

Call today 801-676-5507

real estate property lawyer Salt Lake City Utah 84190

Real Estate Lawyer Explains Utah Foreclosure Laws

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Utah Real Estate Lawyers

As attorneys who regularly practice in real estate law, the law firm of Guardian Law has represented real estate investors, title companies, banks, homeowners, business, property management companies, and other parties in all types of real estate matters.

Our attorneys know Utah real estate - whether you are buying and selling a piece of real estate, or getting ready to go vertical on development . . . if you need to know the applicable laws, you need to call our office. We understand state and local real estate regulations and ordinances and their practical applications. We know how to successfully challenge or defend land use and zoning decisions in the administrative law arena. Jim Balmforth is an attorney who knows the law and will fight for your rights.

At Guardian Law we help real estate investors, owners, and others protect what is rightfully belongs to them and create new strategies to maximize value, even in the current economy.

We represent clients in matters covering the full range of real estate law including:

- Purchase and sale agreements

- Foreclosures

- Evictions

- Litigation (Lawsuits)

- Landlord Representation

- Commercial leases and negotiations

- Title opinions and insurance

- Mortgages and foreclosures

- Financing

- Land use and zoning

- Landlord/tenant issues

- Owner associations

- Commercial and residential real estate closing services

- Construction law

- And other cases

Our highly trained staff and attorneys, along with our professional service, we can help you achieve your business and financial objectives. When it comes to real estate, we help our clients succeed.

We have represented commercial real estate owners in vicious lawsuits; we still represent property owners in California, Nevada, and Utah.

To Speak with a licensed attorney regarding your specific real estate, foreclosure, or eviction law question:

Call Now: 801-676-5506

Attorneys in our office include: Steven Rush, Esq. Michael Anderson, JD James Balmforth, Esq. Greg Christiansen, JD You will be assured that when we begin working with you on a legal matter, we will personally address all of your concerns. We promise you the highest degree of professionalism, integrity and results.

You can contact us through e-mail by clicking here. Or you can contact us via telephone: (801) 676-5506 in the Salt Lake City area Or you can contact us Toll Free: 1-800-564-2707 if you are outside the Salt Lake City area. Or you can come in and visit with us: 8833 South Redwood Road, West Jordan, Utah 84088. If an attorney is available, one will meet with you immediately. If you can, please schedule an appointment before stopping by so we can be sure to meet with you and give you the time you need.

MIchael Anderson, an attorney with the firm is trained in real estate law. Jim Balmforth has represented hundreds of homeowners over the years, including stopping foreclosure, suing banks if necessary, and protecting land owners. Mr. Balmforth regularly practices in real estate law. He has represented clients in cases involving disputing property tax increases, changes of zoning, drafting condominium declarations, CC&Rs, condo associations and much more. Steven Rush, Esq. has worked in private practice and is able to assist you with your Utah real estate case. Steven has reviewed commercial leases, residential leases and been involved in property transfers and review loan modification and advised on large closings. Whether your case involves foreclosure, suing a lender, your rights under a promissory note and deed of trust or another part of Utah Real Estate Law -- you'll want Steven on your side. Steven is a hard working lawyer who wants to win your real estate case, whether it is through settlement or litigation, Steven is a winning attorney you want on your side.

All of our attorneys have worked for years as attorneys in the States of Utah, Nevada, and California, handling many real estate cases. Today, our practice is primarily in Salt Lake City, West Jordan, Utah and surrounding areas, from Ogden, Utah to Provo, Orem and Spanish Fork.

Attorneys speak English and Spanish in our office. If you or a member of your family needs the services of an experienced real estate law attorney, please contact us at the Law Firm of Guardian Law, PLLC -- call 801-676-5506 now. We are committed to helping you protect yourself, your real estate, and your other assets. Home Contract Law Adoption Law Child Custody Law Business and Commercial Law Real Estate Law Bankruptcy Law Personal Injury / Auto Accidents

Family Law Divorce / Legal Separation Asset Protection Trusts Probate Estate Planning Last Will & Testament Power of Attorney & Health Care Proxy

Real Estate Lawyers are standing by for your telephone call !

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real estate law office Salt Lake City Utah 84189

Real Estate Attorney or Lawyer's Role When Selling FSBO

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The role that the Real Estate Attorney plays in the selling of your home by for sale by owner makes him/her a necessary addition to your team. Like any other aspect of the law, real estate law should be left to the professionals. Unless you are legally entitled to practice Real Estate law in your State/Province you need professional help. Below are some of the details that your Attorney/Lawyer will take care of.

Your Attorney/Lawyer will review the contract of purchase and sale and advice of potential problems. The seller is typically responsible for preparing the transfer, which is the document that transfers the title of the land from the seller to the purchaser.

They will review transfer documents received from the buyers lawyer, which includes the statement of adjustments which shows credits and debits for seller and buyer, for items such as purchase price, property tax, strata fees where applicable, water account, tenant rent or damage deposits, commissions to be paid to Real Estate Agents, down payment paid by buyer and transfer of title.

They will converse with the buyers Lawyer if necessary and resolve any problems or concerns regarding title issues and or accuracy of figures. Obtain a mortgage balance statement from the seller's mortgage lender to determine the amount necessary to pay and clear the mortgage balance on the day of closing.

If you are selling one property and purchasing another property with closings on the same day, you may need to arrange interim financing. This is a temporary loan to ensure that monies are in place to complete your purchase.

As you can plainly see the Attorney/Lawyers role is vital to the sale of your home. Make sure you have one on your team before you attempt to sell your property.

Real Estate Lawyers are standing by for your telephone call !

Call today 801-676-5507

home property lawyers Salt Lake City Utah 84184

Eviction Attorneys for Landlords in Utah

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As a landlord with my own personal rental properties, and as a property manager for some of my investor clients, I see all kinds of expenses that can arise without warning in the rental world. Vacancies, repairs, evictions and location all play a part in the amount of money that an investor will need to have on hand in order to make the rental a viable venture. Planning for a rainy day is an essential component in the success of any real estate investment.

Vacancies

The average vacancy rate in the state of Utah for 2017 was 5.5%. However, as recently as 2014, that figure was as high as 8.9%. That means that for every year that a property is used as a rental, there is a high probability that it will stand vacant for at least 1 month. As we are all aware, the mortgage payment is still due whether the rent is being paid or not, so there better be something in the piggy bank to bridge the gap.

Even when the rental market is relatively strong, there is always the chance that you will end up with a tenant that stops paying. On the front end, potential deadbeat tenants can be avoided by doing a thorough background check. Run a credit check to find out their payment history and if there is a pattern of broken commitments. Obtain the phone numbers of references, employers and past landlords, and call them. On the back end, you can protect yourself by collecting the first month's rent, a deposit, and the last month's rent at the time the lease agreement is signed. That way, if a tenant does stop paying, you have at least a month of reserves (provided by them) to get them out of the property.

Evictions

The eviction process in the state of Utah is a four-step process:

a.) First, the landlord must serve the tenant with an eviction notice (also known as a "Notice to Quit" or "Notice to Vacate."

b.) If the notice is ignored, the landlord files a lawsuit and the tenant is served with a court summons and complaint.

c.) The judge will rule either in favor of the landlord or tenant after the case is presented.

d.) If the ruling is in favor of the landlord, the court will issue an "Order of Restitution" which directs the sheriff to forcibly remove the tenant from the premises.

The cost associated with an eviction will vary depending on if lawyers are involved and whether or not the eviction is disputed by the tenant. You can find more information at utcourts.gov/howto/landlord [http://utcourts.gov/howto/landlord].

Repairs

The repairs necessary to keep a property in working order seem to be directly proportionate to its age. I have a town home rental that was built in 1997, and the repairs have been limited to relatively simple things like toilets and faucet aerators. However, one of my clients purchased a home built in the late 60's, and I have seen them replace the air conditioning unit, rehab the furnace, fix the fireplace flu, repair the sprinklers, and patch the leaky roof (all in the last 2 years). Needless to say, get a comprehensive inspection of all the home's systems before closing on the purchase. You'll be glad you did. However, there is no such thing as the maintenance-free home, so plan on having some reserves to be able to pay the handyman.

Location

The amount of rent you can charge will be dictated by the area you are in. Additionally, if you rent in low-income areas, you can expect the tenant turnover to be much higher than in high-income areas. For myself and the clients I work with, a lease term of 1-year is minimum when signing an agreement. Recently, in a high-end neighborhood on the east side of Salt Lake County, we had a couple sign a 2-year agreement (with an expressed interest in staying even longer than that). Choose your location wisely - you'll be glad you did. It will lead to fewer vacancies, and therefore the need for smaller cash reserves.

Remember, if you run out of money, you'll be out of business in a heartbeat. While "getting in the landlord game" can be relatively easy with decent credit and a down payment, it is only the beginning. Go in with your eyes open, and you won't be taken by surprise.

Real Estate Lawyers are standing by for your telephone call !

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Real Estate Attorney for Real Estate Investors

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Buying a house usually is at the top of the list of most couples or any individual that knows the value of having a beautiful and sturdy home that could last a lifetime of wear and tear from its owner.

This is where dreams are made of. A young family may have plans of purchasing their first home based on certain ideals or categories.

People with highflying careers that prefer living in the city opt for the condominium type ones. While old-fashioned, country-hearted individuals prefer the farm type or the suburban neighborhood ones.

Below are some of the things that must be taken into considerations before any purchase is made.

1. Accessibility

If the family owns a car or any mode of transportation that would enable them to easily reach common needed destinations such as the grocery store, school, church or the hospitals, this is a plus point.

2. Income

What better way to gauge any purchase to be made than to weigh one's capability to pay for the same.

Home mortgages must be within the monthly budget of the family or couple, allowing still, some portion for the payment of basic needs or bills such as electricity, fuel and water.

3. Location
Is the neighborhood a safe one? Is its near a school, hospital or the grocery (most that should be considered if one does not own a car)?

But whatever one's preference over a house is, usually at one point in time or another, he or she (or the whole family) might have the idea of reselling it for various reasons.

This may be due to one or more of the following:

- Relocation. A job offer at another state (for an individual or to that of his or her spouse or partner) more often than not requires relocation. This would entail moving on to a house closer to the place of work to avoid stress in going to and from work.

- Financial capacity. Not all high end careers last forever. Should an individual or couple suffer from financial burdens, most move to a house that costs less to maintain.

Likewise, a promotion or a surge in the income may also prompt a move, that is, to a much larger house that is much favored by the individual or which can accommodate a growing family.

- Deterioration. Should a house need constant repair, it the puts a strain to the financial standing of a family, thus, most prefer to move to a much smaller one that does not require costly maintenance.

- Natural calamities. If a place is usually hit by tornadoes, storm or is always flooded, the natural tendency of most would be to move to another house that is not subjected to these problems.

All of the stated information above might prompt any individual or family to sell the house and move to another location.

But reselling of one's house is not an easy task. It requires great planning to ensure that it would be attractive to prospective buyers, and be able to fetch the highest value possible.
.
Here are some pointers to raise the value of one's house before it is put up for sale:

1. Repair. Anything that needs to be repaired should be attended to. Is the bathroom faucet leaking? Is the stair baluster disengaged? Or does the roof have cracked where leaking occurs during rainy days?

All of these problems should be attended to. A house that has no, if not very little repair, is more attractive than a moldy, leaky one.

2. Clean out the attic. Family mementos that are usually forgotten are often put up in the attic. Most times, people think that it has lost it value, only to find out later that they have found a use (or an emotional need) to have it again.

Be sure not to leave anything of great importance that might not be retrieved. Also, it is a sign of courtesy to the next occupant. Let them have a roomy attic to store their less needed stuff.

3. Clear out the weed. This would make the place look larger and more appealing. A little well-maintained garden usually is eye-catching and would surely attract buyers that love these kinds.

4. If furniture and other equipment is included in the sale, make sure that everything is in its good working condition.

It would be advisable if wood furniture are polished, or silver and brass items gleaming.

5. Clean. If not everything is in perfect condition, at least make sure that everything else is clean. If bedroom linens are included, make sure that it is stain-free.

6. Water and electrical wirings. The lights should be functioning well and water faucets running at full strength when opened.

7. Windows. These should have the proper locks and no broken glasses.

8. Flooring. If carpets were used, a stained one would surely be a sore to the eyes. If it cannot be replaced, at least remove the stains.

9. Doors. Most especially the main door, it should be in good condition

10. Most importantly, the individual or the family must be emotionally ready to let go of the house, because believe it or not, when one thinks about childhood memories or happy moments, a house is usually included.

Real Estate Lawyers are standing by for your telephone call !

Call today 801-676-5507

good real estate lawyer Cottonwood Heights Utah 84171

Real Estate Attorney for Real Estate Investors

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Mortgage fraud is problem that has reached epidemic proportions in the United States (US) in general and in Utah (SC) in particular. The white collar practitioner should be aware that mortgage fraud is generally investigated by the United States Federal Bureau of Investigation (FBI), although other agencies routinely assist the FBI and/or take the lead in investigating a case. Some of the other federal agencies which investigate mortgage fraud crimes for criminal prosecution include, but are not limited to, the Internal Revenue Service-Criminal Investigative Division (IRS-CID), United States Postal Inspection Service (USPIS), U.S. Secret Service (USSS), U.S. Immigration and Customs Enforcement (ICE), U.S. Department of Housing and Urban Development-Office of the Inspector General (HUD-OIG), Federal Deposit Insurance Corporation-Office of the Inspector General (FDIC-OIG), the Department of Veterans Affairs-Office of the Inspector General (DVA-OIG) and U.S. Bankruptcy Trustees.

The FBI works extensively with the Financial Crimes Enforcement Network (FinCEN). FinCEN is a bureau of the United States Department of the Treasury, created in 1990, that collects and analyzes information about financial transactions in order to fight financial crimes, including mortgage fraud, money laundering and terrorist financing. The FinCEN network is a means of bringing people and information together to combat complex criminal financial transactions such as mortgage fraud and money laundering by implementing information sharing among law enforcement agencies and its other partners in the regulatory and financial communities. Utah lawyers can keep abreast of mortgage fraud developments by visiting the respective websites of the FBI and FinCEN.

In Utah, mortgage fraud is generally prosecuted by federal prosecutors. The United States Attorney's Office (USAO) and the U.S. Department of Justice's (DOJ) Criminal Fraud Section handle the criminal prosecutions of mortgage fraud cases. The USAO in Utah has about 50 prosecutors in the state, and has offices in Charleston, Columbia, Florence, and Greenville. In the investigation stage, a person with possible knowledge or involvement in a mortgage fraud may be considered a witness, subject or target of the investigation. A subject is generally a person the prosecutor believes may have committed a mortgage fraud crime, whereas a target is a person the prosecutor believes has committed a crime such as mortgage fraud and the prosecutor has substantial evidence to support a criminal prosecution. Criminal prosecutions of mortgage fraud felony cases are usually initiated through the federal grand jury process. A federal grand jury consists of between 16 and 23 grand jurors who are presented evidence of alleged criminal activity by the federal prosecutors with the aid of law enforcement agents, usually FBI special agents. At least 12 members of the grand jury must vote in favor of an indictment charging mortgage fraud. Utah criminal defense lawyers are not allowed entry into the grand jury at any time, and prosecutors rarely fail to obtain an indictment after presentment of their case to the grand jury.

Often targets of a mortgage fraud prosecution are invited by the prosecution to avail themselves of the grand jury process and to testify in front of the grand jury. Generally, a Utah criminal defense attorney should not allow a named target of a federal criminal mortgage fraud investigation to testify before the grand jury. Subjects and witnesses in a mortgage fraud prosecution are often subpoenaed by the prosecutors to testify before the grand jury. A criminal defense attorney should likewise generally advise a witness or subject to not testify if any part of the testimony would possibly incriminate the client. With respect to a federal mortgage fraud investigation, when a citizen receives a target letter, subject letter, or a subpoena to testify before the grand jury, or is contacted in person by a law enforcement officer such as an FBI special agent, a Utah criminal lawyer who is experienced in federal prosecutions should be consulted immediately. One of the biggest mistakes a mortgage fraud target, subject or witness can make is to testify before the grand jury or speak to criminal investigators prior to consulting with a criminal defense attorney. The 5th Amendment to the Constitution allows any person, including a target, subject or witness in a mortgage fraud prosecution, to not incriminate himself or herself. Interestingly, there is no 5th Amendment protection for a corporation. Obviously, if a defendant has been indicted or arrested for a federal mortgage fraud crime in Utah, an experienced SC mortgage fraud lawyer should be consulted immediately.

An important practice tip for Utah attorneys representing clients who have decided to testify before the grand jury is to accompany the client to the grand jury court room. While not allowed in the grand jury proceeding itself, the attorney can wait just outside of the court room and the client is allowed to consult with the attorney for any question which is posed to the client by prosecutors or grand jurors. This is an effective way to help minimize any potential damaging statements by the client, and a great way to learn the focus of the prosecutor's case. This approach makes it much easier to gain insights from the client as to the questions asked during the grand jury proceeding as opposed to debriefing the client after a sometimes long and grueling question and answer session which can last for hours.

Utah white collar criminal attorneys need to be aware of the types of mortgage fraud that are prevalent in the state in order to effectively identify and represent clients who are involved in mortgage fraud activities. Consumers need to be aware of the variations of mortgage fraud so that they do not unwittingly become a part of a scheme to defraud a bank or federally backed lending institution. Federal mortgage fraud crimes in Utah are punishable by up to 30 years imprisonment in federal prison or $1,000,000 fine, or both. It is unlawful and fraudulent for a person to make a false statement regarding his or her income, assets, debt, or matters of identification, or to willfully overvalue any land or property, in a loan or credit application for the purpose of influencing in any way the action of a federally backed financial institution.

Some of the applicable federal criminal statutes which may be charged in mortgage fraud indictments include, but are not limited to, the following:

• 18 U.S.C. § 1001 - Statements or entries generally
• 18 U.S.C. § 1010 - HUD and Federal Housing Administration Transactions
• 18 U.S.C. § 1014 - Loan and credit applications generally
• 18 U.S.C. § 1028 - Fraud and related activity in connection with identification documents
• 18 U.S.C. § 1341 - Frauds and swindles by Mail
• 18 U.S.C. § 1342 - Fictitious name or address
• 18 U.S.C. § 1343 - Fraud by wire
• 18 U.S.C. § 1344 - Bank Fraud
• 18 U.S.C. § 2 - Aiding and Abetting
• 18 U.S.C. § 371 - Conspiracy
• 42 U.S.C. § 408(a) - False Social Security Number

While states experiencing the highest number of mortgage fraud cases are California, Florida, Georgia, Illinois, Indiana, Michigan, New York, Ohio, Texas, Utah, Arizona, Colorado, Maryland, Minnesota, Missouri, Nevada, North Carolina, Tennessee, and Virginia, the state of Utah has seen a huge rise in the number of mortgage fraud cases being prosecuted by the USAO, DOJ and FBI.

In Utah, a disproportionate number of mortgage fraud cases have occurred in the coastal region. Some of the Utah counties with high concentrations of mortgage fraud or bank fraud cases include Horry County, Florence County, Georgetown County, Charleston County, Berkeley County, Dorchester County, Beaufort County, Colleton County and Jasper County. Some of the Utah cities with high concentrations of mortgage fraud or bank fraud cases include Little River, North Myrtle Beach, Myrtle Beach, Murrells Inlet, Georgetown, Awendaw, Mt. Pleasant, Charleston, North Charleston, James Island, Isle of Palms, Sullivan's Island, Folly Beach, Kiawah Island, Hollywood, Ravenel, Beaufort, Bluffton and Hilton Head Island. The reason for the increased number of mortgage fraud and bank fraud criminal prosecutions in these areas is because large number of condominium, condotels, townhouse and similar real estate projects which proliferated in these areas. These real estate developments were popular in areas close to the waterfront and bank lenders were willing to loan money at a furious pace due to a perceived enormous demand.

There are a wide variety of schemes, artifices and conspiracies to perpetrate mortgage frauds and band frauds with which the Utah white collar criminal defense lawyer and consumers must be familiar. Typical mortgage fraud schemes or conspiracies that have occurred in Utah and elsewhere throughout the United States include the following:

Air Loans. The air loan mortgage fraud scheme is a loan obtained on a nonexistent property or for a nonexistent borrower. Professional scam artists often work together to create a fake borrower and a fake chain of title on a nonexistent property. They then obtain a title and property insurance binder to present to the bank. The scam artists often set up fake phone banks and mailboxes in order to create fake employment verifications and W-2s, home addresses and borrower telephone numbers. They may establish accounts for payments, and maintain custodial accounts for escrows. Phone banks are used to impersonate an employer, an appraiser, a credit agency, a law firm, an accountant, etc..., for bank verification purposes. The air loan scam artists obtain the loan proceeds and no property is ever bought or sold, and the bank is left with an unpaid loan that never had any collateral.

Appraisal fraud. Appraisal fraud is often an integral part of most mortgage fraud scams and occurs when a dishonest appraiser fraudulently appraises a property by inflating its value. In most cases, after the seller receives the closing proceeds, he will pay a kickback to the appraiser as a quid pro quo for the fake appraisal. In most cases, the borrower doesn't make any loan payments and the house or property goes into foreclosure.

Equity Skimming. In an equity skimming mortgage fraud scheme, an investor often uses a straw buyer, false income documents, and false credit reports to obtain a mortgage loan in the straw buyer's name. After the closing, the straw buyer signs the property over to the investor in a quit claim deed which relinquishes all rights to the property and provides no guaranty to title. The investor does not make any mortgage payments, and rents the property until foreclosure takes place several months later. Equity skimming also occurs when a scam artist purchases a residential property whose owner is in default on his mortgage and/or his real estate taxes, and then diverts rental income from the property for personal gain and does not apply this rental income toward mortgage payments, the payment of taxes and other property-related expenses.

Flipping. A flipping scheme occurs when the seller intentionally misrepresents the value of a property in order to induce a buyer's purchase. Flipping mortgage fraud schemes usually involve a fraudulent appraisal and a grossly inflated sales price.

Foreclosure schemes. Foreclosure scheme scam artists prey on people with mounting financial problems that that place them in danger of losing their home. Homeowners in the early stages of foreclosure may be contacted by a fraudster who represents to the homeowner that he can get rid of his debt and save his house for an upfront fee, which the scam artist takes and then disappears. In a similar foreclosure scheme, Homeowners are approached by a scam artist who offers to help them refinance the loan. The homeowners are fraudulently induced to sign so-called "refinance" documents only to later find out that they actually transferred title to the house to the fraudster and then face eviction.

Nominee Loans/Straw buyers. One of the most frequent types of mortgage fraud occurs when a "straw buyer" is used to hide the identity of the true borrower who would not qualify for the mortgage. The straw buyer or nominee buyer generally has good credit. The scam artist usually fills out the loan application for the straw buyer, and falsifies the income and net worth of the straw buyer in order to qualify for the loan. These fraud scams were popularized with the advent of the "stated income" loans which did not require a borrower to prove his true income and net worth - the bank just believed the income and net worth that was "stated" on the loan application. Straw buyers are often duped into thinking that they're investing in real estate that will be rented out, with the rental payments paying the mortgage, and are sometime paid a nominal fee outside of closing. In most case, no payments are made and the lender forecloses on the loan. Sometimes straw buyers are actually in on the scam and are getting a cut of the proceeds.

Silent Second. In the silent second mortgage fraud scheme, the buyer borrows the down payment for the purchase of the property from the seller through the execution of a second mortgage which is not disclosed to the lending bank. The lending bank is fraudulently led to believe that the borrower has invested his own money for the down payment, when in fact, it is borrowed. The second mortgage is generally not recorded to further conceal its status from the primary lending bank.

A mortgage fraud is usually reported to the FBI by the financial institution upon which the fraud has been committed. Pursuant to the Bank Secrecy Act of 1970 (BSA), a bank must file a Suspicious Activity Report (SAR) with FinCEN if a customer's actions indicate that the customer is laundering money or otherwise violating a federal criminal law such as committing mortgage fraud. See 31 C.F.R. § 103.18(a). A bank is required to file a SAR no later than 30 calendar days after the date of initial detection by the bank of facts that may constitute a basis for filing a SAR, unless no suspect was initially identified on the date of the detection, in which case the bank has up to 60 days to file the SAR. See 31 C.F.R. § 103.18(b). Once FinCEN has analyzed the information contained in the SAR, if a criminal activity is found to have occurred, then the case is turned over to the FBI and the DOJ or AUSO for investigation and prosecution. The rise in FBI SARs reports involving mortgage fraud went from approximately 2,000 in 1996 to over 25,000 in 2005. Of those 2005 SARs reports, 20,000 of involved borrower fraud, approximately 7,000 involved broker fraud, and approximately 2,000 involved appraiser fraud.

The FBI has identified a number of indicators of mortgage fraud of which the Utah criminal white collar lawyer needs to be aware. These include inflated appraisals or the exclusive use of one appraiser, increased commissions or bonuses for brokers and appraisers, bonuses paid (outside or at settlement) for fee-based services, higher than customary fees, falsifications on loan applications, explanations to buyers on how to falsify the mortgage application, requests for borrowers to sign a blank loan application, fake supporting loan documentation, requests to sign blank employee forms, bank forms or other forms, purchase loans which are disguised as refinance loans, investors who are guaranteed a re-purchase of the property, investors who are paid a fixed percentage to sell or flip a property, and when multiple "Holding Companies" are used to increase property values.

One of the first and biggest Utah mortgage fraud prosecutions occurred in the Charleston Division in the 1990's. It involved nominee borrowers and straw loans made by Citadel Federal Saving and Loan. Over 10 straw purchasers were enticed into the real estate loans by getting paid fees for signing up for the loans. They did not put up any of their own money as part of the deal and when the loans went sour the bank was left with properties that were upside down, that is, the real estate was worth less the the amount of the loan. Some bank insiders were part of the scheme and got convicted for their respective roles.

The range of defendants that a SC criminal lawyer will represent in a typical mortgage fraud case may include straw borrowers or nominee borrowers, real estate agents, developers, appraisers, mortgage brokers, and sometimes even closing attorneys and bankers. Bankers often get involved in mortgage fraud scams because they are receiving kickbacks from the borrowers or are paid bonuses for the volume of loans made and thus ignore proper banking loan requirements and protocols in order to make more money. Close scrutiny should be given to bank loan applications, appraisals, HUD-1 closing statements, borrower's W-2 and tax returns when analyzing a potential mortgage fraud case for a potential client.

Federal judges who impose sentences for mortgage fraud normally rely upon the United States Sentencing Guidelines, which are now advisory as a result of the U.S. v. Booker case, when determining a sentence. A federal court calculates a particular guideline range by assessing a defendant's criminal history, the applicable base offense level, and the amount of the actual or intended loss. Section 2B1.1 of the USSG sets forth a loss table which increases the base offense level according to the amount of money involved in the mortgage fraud. Generally, the more money which is lost in a mortgage fraud scam, the greater the sentence the defendant receives. In some cases, a defendant may be subjected to sentencing enhancements which means the defendant receives a greater sentence. A defendant may receive an enhancement for the role in the offense if the court determines that the defendant was an organizer, supervisor, or a recruiter, or used a sophisticated means to facilitate a crime, abused a position a trust, or targeted a vulnerable victim such as a disabled or elderly person. However, federal judges now have wide latitude for imposing a sentence because they must consider the broad statutory factors set forth in 18 U.S.C. 3553(a)which include the nature and circumstances of the offense and the history and characteristics of the defendant, the need for the sentence imposed to reflect the seriousness of the offense, to promote respect for the law, and to provide just punishment for the offense, the need to afford adequate deterrence to criminal conduct, the need to protect the public from further crimes of the defendant, the need to provide the defendant with needed educational or vocational training, medical care, or other correctional treatment in the most effective manner, the kinds of sentences available, the sentence recommended by the Sentencing Guidelines and any applicable guidelines or policy statement therein, the need to avoid sentence disparities, and the need for restitution.

There are some important strategic decisions which need to be made for the defendant who has been charged or indicted for mortgage fraud. The defendant and his lawyer should seriously consider the consequences of pleading guilty if he has in fact committed the crime. A mortgage fraud defendant can receive up to a 3 level downward departure for pleading guilty. A criminal lawyer representing a mortgage fraud defendant can also file a motion for a downward departure and/or a motion for a variance and argue factors to the court in support of an additional decrease in a defendant's sentence. The mortgage fraud defendant's criminal attorney should closely scrutinize the circumstances of the case and the defendant's background and criminal history in order to help minimize the amount of time to be served. A valuable tip for an attorney representing a criminal mortgage fraud defendant in Utah is to consider mitigating factors such as disparate sentences, 5K departures for cooperation, aberrant behavior, property values, family ties, extraordinary rehabilitation, diminished mental capacity, extraordinary restitution should be considered as possible justifications for a lesser sentence.

A white collar criminal defense attorney in Utah must have an understanding of the basics of the mortgage fraud in order to adequately represent clients who have been charged or indicted with mortgage fraud violations. Recognizing the difference between the status of being a target, subject or witness can have important consequences in how a case is handled. A white collar bank fraud or mortgage fraud criminal conviction can have life altering consequences for those defendants convicted of the same. A defendant who is charged or indicted with the federal crime of mortgage fraud should consult with a SC criminal lawyer who is knowledgeable about the different types of these scams, how the scams are carried out, the law enforcement investigatory process, the grand jury process, substantive law regarding mortgage fraud, the applicable federal sentencing guidelines and approaches available to minimize a defendant's potential sentence.

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Mortgage fraud is problem that has reached epidemic proportions in the United States (US) in general and in Utah (SC) in particular. The white collar practitioner should be aware that mortgage fraud is generally investigated by the United States Federal Bureau of Investigation (FBI), although other agencies routinely assist the FBI and/or take the lead in investigating a case. Some of the other federal agencies which investigate mortgage fraud crimes for criminal prosecution include, but are not limited to, the Internal Revenue Service-Criminal Investigative Division (IRS-CID), United States Postal Inspection Service (USPIS), U.S. Secret Service (USSS), U.S. Immigration and Customs Enforcement (ICE), U.S. Department of Housing and Urban Development-Office of the Inspector General (HUD-OIG), Federal Deposit Insurance Corporation-Office of the Inspector General (FDIC-OIG), the Department of Veterans Affairs-Office of the Inspector General (DVA-OIG) and U.S. Bankruptcy Trustees.

The FBI works extensively with the Financial Crimes Enforcement Network (FinCEN). FinCEN is a bureau of the United States Department of the Treasury, created in 1990, that collects and analyzes information about financial transactions in order to fight financial crimes, including mortgage fraud, money laundering and terrorist financing. The FinCEN network is a means of bringing people and information together to combat complex criminal financial transactions such as mortgage fraud and money laundering by implementing information sharing among law enforcement agencies and its other partners in the regulatory and financial communities. Utah lawyers can keep abreast of mortgage fraud developments by visiting the respective websites of the FBI and FinCEN.

In Utah, mortgage fraud is generally prosecuted by federal prosecutors. The United States Attorney's Office (USAO) and the U.S. Department of Justice's (DOJ) Criminal Fraud Section handle the criminal prosecutions of mortgage fraud cases. The USAO in Utah has about 50 prosecutors in the state, and has offices in Charleston, Columbia, Florence, and Greenville. In the investigation stage, a person with possible knowledge or involvement in a mortgage fraud may be considered a witness, subject or target of the investigation. A subject is generally a person the prosecutor believes may have committed a mortgage fraud crime, whereas a target is a person the prosecutor believes has committed a crime such as mortgage fraud and the prosecutor has substantial evidence to support a criminal prosecution. Criminal prosecutions of mortgage fraud felony cases are usually initiated through the federal grand jury process. A federal grand jury consists of between 16 and 23 grand jurors who are presented evidence of alleged criminal activity by the federal prosecutors with the aid of law enforcement agents, usually FBI special agents. At least 12 members of the grand jury must vote in favor of an indictment charging mortgage fraud. Utah criminal defense lawyers are not allowed entry into the grand jury at any time, and prosecutors rarely fail to obtain an indictment after presentment of their case to the grand jury.

Often targets of a mortgage fraud prosecution are invited by the prosecution to avail themselves of the grand jury process and to testify in front of the grand jury. Generally, a Utah criminal defense attorney should not allow a named target of a federal criminal mortgage fraud investigation to testify before the grand jury. Subjects and witnesses in a mortgage fraud prosecution are often subpoenaed by the prosecutors to testify before the grand jury. A criminal defense attorney should likewise generally advise a witness or subject to not testify if any part of the testimony would possibly incriminate the client. With respect to a federal mortgage fraud investigation, when a citizen receives a target letter, subject letter, or a subpoena to testify before the grand jury, or is contacted in person by a law enforcement officer such as an FBI special agent, a Utah criminal lawyer who is experienced in federal prosecutions should be consulted immediately. One of the biggest mistakes a mortgage fraud target, subject or witness can make is to testify before the grand jury or speak to criminal investigators prior to consulting with a criminal defense attorney. The 5th Amendment to the Constitution allows any person, including a target, subject or witness in a mortgage fraud prosecution, to not incriminate himself or herself. Interestingly, there is no 5th Amendment protection for a corporation. Obviously, if a defendant has been indicted or arrested for a federal mortgage fraud crime in Utah, an experienced SC mortgage fraud lawyer should be consulted immediately.

An important practice tip for Utah attorneys representing clients who have decided to testify before the grand jury is to accompany the client to the grand jury court room. While not allowed in the grand jury proceeding itself, the attorney can wait just outside of the court room and the client is allowed to consult with the attorney for any question which is posed to the client by prosecutors or grand jurors. This is an effective way to help minimize any potential damaging statements by the client, and a great way to learn the focus of the prosecutor's case. This approach makes it much easier to gain insights from the client as to the questions asked during the grand jury proceeding as opposed to debriefing the client after a sometimes long and grueling question and answer session which can last for hours.

Utah white collar criminal attorneys need to be aware of the types of mortgage fraud that are prevalent in the state in order to effectively identify and represent clients who are involved in mortgage fraud activities. Consumers need to be aware of the variations of mortgage fraud so that they do not unwittingly become a part of a scheme to defraud a bank or federally backed lending institution. Federal mortgage fraud crimes in Utah are punishable by up to 30 years imprisonment in federal prison or $1,000,000 fine, or both. It is unlawful and fraudulent for a person to make a false statement regarding his or her income, assets, debt, or matters of identification, or to willfully overvalue any land or property, in a loan or credit application for the purpose of influencing in any way the action of a federally backed financial institution.

Some of the applicable federal criminal statutes which may be charged in mortgage fraud indictments include, but are not limited to, the following:

• 18 U.S.C. § 1001 - Statements or entries generally
• 18 U.S.C. § 1010 - HUD and Federal Housing Administration Transactions
• 18 U.S.C. § 1014 - Loan and credit applications generally
• 18 U.S.C. § 1028 - Fraud and related activity in connection with identification documents
• 18 U.S.C. § 1341 - Frauds and swindles by Mail
• 18 U.S.C. § 1342 - Fictitious name or address
• 18 U.S.C. § 1343 - Fraud by wire
• 18 U.S.C. § 1344 - Bank Fraud
• 18 U.S.C. § 2 - Aiding and Abetting
• 18 U.S.C. § 371 - Conspiracy
• 42 U.S.C. § 408(a) - False Social Security Number

While states experiencing the highest number of mortgage fraud cases are California, Florida, Georgia, Illinois, Indiana, Michigan, New York, Ohio, Texas, Utah, Arizona, Colorado, Maryland, Minnesota, Missouri, Nevada, North Carolina, Tennessee, and Virginia, the state of Utah has seen a huge rise in the number of mortgage fraud cases being prosecuted by the USAO, DOJ and FBI.

In Utah, a disproportionate number of mortgage fraud cases have occurred in the coastal region. Some of the Utah counties with high concentrations of mortgage fraud or bank fraud cases include Horry County, Florence County, Georgetown County, Charleston County, Berkeley County, Dorchester County, Beaufort County, Colleton County and Jasper County. Some of the Utah cities with high concentrations of mortgage fraud or bank fraud cases include Little River, North Myrtle Beach, Myrtle Beach, Murrells Inlet, Georgetown, Awendaw, Mt. Pleasant, Charleston, North Charleston, James Island, Isle of Palms, Sullivan's Island, Folly Beach, Kiawah Island, Hollywood, Ravenel, Beaufort, Bluffton and Hilton Head Island. The reason for the increased number of mortgage fraud and bank fraud criminal prosecutions in these areas is because large number of condominium, condotels, townhouse and similar real estate projects which proliferated in these areas. These real estate developments were popular in areas close to the waterfront and bank lenders were willing to loan money at a furious pace due to a perceived enormous demand.

There are a wide variety of schemes, artifices and conspiracies to perpetrate mortgage frauds and band frauds with which the Utah white collar criminal defense lawyer and consumers must be familiar. Typical mortgage fraud schemes or conspiracies that have occurred in Utah and elsewhere throughout the United States include the following:

Air Loans. The air loan mortgage fraud scheme is a loan obtained on a nonexistent property or for a nonexistent borrower. Professional scam artists often work together to create a fake borrower and a fake chain of title on a nonexistent property. They then obtain a title and property insurance binder to present to the bank. The scam artists often set up fake phone banks and mailboxes in order to create fake employment verifications and W-2s, home addresses and borrower telephone numbers. They may establish accounts for payments, and maintain custodial accounts for escrows. Phone banks are used to impersonate an employer, an appraiser, a credit agency, a law firm, an accountant, etc..., for bank verification purposes. The air loan scam artists obtain the loan proceeds and no property is ever bought or sold, and the bank is left with an unpaid loan that never had any collateral.

Appraisal fraud. Appraisal fraud is often an integral part of most mortgage fraud scams and occurs when a dishonest appraiser fraudulently appraises a property by inflating its value. In most cases, after the seller receives the closing proceeds, he will pay a kickback to the appraiser as a quid pro quo for the fake appraisal. In most cases, the borrower doesn't make any loan payments and the house or property goes into foreclosure.

Equity Skimming. In an equity skimming mortgage fraud scheme, an investor often uses a straw buyer, false income documents, and false credit reports to obtain a mortgage loan in the straw buyer's name. After the closing, the straw buyer signs the property over to the investor in a quit claim deed which relinquishes all rights to the property and provides no guaranty to title. The investor does not make any mortgage payments, and rents the property until foreclosure takes place several months later. Equity skimming also occurs when a scam artist purchases a residential property whose owner is in default on his mortgage and/or his real estate taxes, and then diverts rental income from the property for personal gain and does not apply this rental income toward mortgage payments, the payment of taxes and other property-related expenses.

Flipping. A flipping scheme occurs when the seller intentionally misrepresents the value of a property in order to induce a buyer's purchase. Flipping mortgage fraud schemes usually involve a fraudulent appraisal and a grossly inflated sales price.

Foreclosure schemes. Foreclosure scheme scam artists prey on people with mounting financial problems that that place them in danger of losing their home. Homeowners in the early stages of foreclosure may be contacted by a fraudster who represents to the homeowner that he can get rid of his debt and save his house for an upfront fee, which the scam artist takes and then disappears. In a similar foreclosure scheme, Homeowners are approached by a scam artist who offers to help them refinance the loan. The homeowners are fraudulently induced to sign so-called "refinance" documents only to later find out that they actually transferred title to the house to the fraudster and then face eviction.

Nominee Loans/Straw buyers. One of the most frequent types of mortgage fraud occurs when a "straw buyer" is used to hide the identity of the true borrower who would not qualify for the mortgage. The straw buyer or nominee buyer generally has good credit. The scam artist usually fills out the loan application for the straw buyer, and falsifies the income and net worth of the straw buyer in order to qualify for the loan. These fraud scams were popularized with the advent of the "stated income" loans which did not require a borrower to prove his true income and net worth - the bank just believed the income and net worth that was "stated" on the loan application. Straw buyers are often duped into thinking that they're investing in real estate that will be rented out, with the rental payments paying the mortgage, and are sometime paid a nominal fee outside of closing. In most case, no payments are made and the lender forecloses on the loan. Sometimes straw buyers are actually in on the scam and are getting a cut of the proceeds.

Silent Second. In the silent second mortgage fraud scheme, the buyer borrows the down payment for the purchase of the property from the seller through the execution of a second mortgage which is not disclosed to the lending bank. The lending bank is fraudulently led to believe that the borrower has invested his own money for the down payment, when in fact, it is borrowed. The second mortgage is generally not recorded to further conceal its status from the primary lending bank.

A mortgage fraud is usually reported to the FBI by the financial institution upon which the fraud has been committed. Pursuant to the Bank Secrecy Act of 1970 (BSA), a bank must file a Suspicious Activity Report (SAR) with FinCEN if a customer's actions indicate that the customer is laundering money or otherwise violating a federal criminal law such as committing mortgage fraud. See 31 C.F.R. § 103.18(a). A bank is required to file a SAR no later than 30 calendar days after the date of initial detection by the bank of facts that may constitute a basis for filing a SAR, unless no suspect was initially identified on the date of the detection, in which case the bank has up to 60 days to file the SAR. See 31 C.F.R. § 103.18(b). Once FinCEN has analyzed the information contained in the SAR, if a criminal activity is found to have occurred, then the case is turned over to the FBI and the DOJ or AUSO for investigation and prosecution. The rise in FBI SARs reports involving mortgage fraud went from approximately 2,000 in 1996 to over 25,000 in 2005. Of those 2005 SARs reports, 20,000 of involved borrower fraud, approximately 7,000 involved broker fraud, and approximately 2,000 involved appraiser fraud.

The FBI has identified a number of indicators of mortgage fraud of which the Utah criminal white collar lawyer needs to be aware. These include inflated appraisals or the exclusive use of one appraiser, increased commissions or bonuses for brokers and appraisers, bonuses paid (outside or at settlement) for fee-based services, higher than customary fees, falsifications on loan applications, explanations to buyers on how to falsify the mortgage application, requests for borrowers to sign a blank loan application, fake supporting loan documentation, requests to sign blank employee forms, bank forms or other forms, purchase loans which are disguised as refinance loans, investors who are guaranteed a re-purchase of the property, investors who are paid a fixed percentage to sell or flip a property, and when multiple "Holding Companies" are used to increase property values.

One of the first and biggest Utah mortgage fraud prosecutions occurred in the Charleston Division in the 1990's. It involved nominee borrowers and straw loans made by Citadel Federal Saving and Loan. Over 10 straw purchasers were enticed into the real estate loans by getting paid fees for signing up for the loans. They did not put up any of their own money as part of the deal and when the loans went sour the bank was left with properties that were upside down, that is, the real estate was worth less the the amount of the loan. Some bank insiders were part of the scheme and got convicted for their respective roles.

The range of defendants that a SC criminal lawyer will represent in a typical mortgage fraud case may include straw borrowers or nominee borrowers, real estate agents, developers, appraisers, mortgage brokers, and sometimes even closing attorneys and bankers. Bankers often get involved in mortgage fraud scams because they are receiving kickbacks from the borrowers or are paid bonuses for the volume of loans made and thus ignore proper banking loan requirements and protocols in order to make more money. Close scrutiny should be given to bank loan applications, appraisals, HUD-1 closing statements, borrower's W-2 and tax returns when analyzing a potential mortgage fraud case for a potential client.

Federal judges who impose sentences for mortgage fraud normally rely upon the United States Sentencing Guidelines, which are now advisory as a result of the U.S. v. Booker case, when determining a sentence. A federal court calculates a particular guideline range by assessing a defendant's criminal history, the applicable base offense level, and the amount of the actual or intended loss. Section 2B1.1 of the USSG sets forth a loss table which increases the base offense level according to the amount of money involved in the mortgage fraud. Generally, the more money which is lost in a mortgage fraud scam, the greater the sentence the defendant receives. In some cases, a defendant may be subjected to sentencing enhancements which means the defendant receives a greater sentence. A defendant may receive an enhancement for the role in the offense if the court determines that the defendant was an organizer, supervisor, or a recruiter, or used a sophisticated means to facilitate a crime, abused a position a trust, or targeted a vulnerable victim such as a disabled or elderly person. However, federal judges now have wide latitude for imposing a sentence because they must consider the broad statutory factors set forth in 18 U.S.C. 3553(a)which include the nature and circumstances of the offense and the history and characteristics of the defendant, the need for the sentence imposed to reflect the seriousness of the offense, to promote respect for the law, and to provide just punishment for the offense, the need to afford adequate deterrence to criminal conduct, the need to protect the public from further crimes of the defendant, the need to provide the defendant with needed educational or vocational training, medical care, or other correctional treatment in the most effective manner, the kinds of sentences available, the sentence recommended by the Sentencing Guidelines and any applicable guidelines or policy statement therein, the need to avoid sentence disparities, and the need for restitution.

There are some important strategic decisions which need to be made for the defendant who has been charged or indicted for mortgage fraud. The defendant and his lawyer should seriously consider the consequences of pleading guilty if he has in fact committed the crime. A mortgage fraud defendant can receive up to a 3 level downward departure for pleading guilty. A criminal lawyer representing a mortgage fraud defendant can also file a motion for a downward departure and/or a motion for a variance and argue factors to the court in support of an additional decrease in a defendant's sentence. The mortgage fraud defendant's criminal attorney should closely scrutinize the circumstances of the case and the defendant's background and criminal history in order to help minimize the amount of time to be served. A valuable tip for an attorney representing a criminal mortgage fraud defendant in Utah is to consider mitigating factors such as disparate sentences, 5K departures for cooperation, aberrant behavior, property values, family ties, extraordinary rehabilitation, diminished mental capacity, extraordinary restitution should be considered as possible justifications for a lesser sentence.

A white collar criminal defense attorney in Utah must have an understanding of the basics of the mortgage fraud in order to adequately represent clients who have been charged or indicted with mortgage fraud violations. Recognizing the difference between the status of being a target, subject or witness can have important consequences in how a case is handled. A white collar bank fraud or mortgage fraud criminal conviction can have life altering consequences for those defendants convicted of the same. A defendant who is charged or indicted with the federal crime of mortgage fraud should consult with a SC criminal lawyer who is knowledgeable about the different types of these scams, how the scams are carried out, the law enforcement investigatory process, the grand jury process, substantive law regarding mortgage fraud, the applicable federal sentencing guidelines and approaches available to minimize a defendant's potential sentence.

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Ogden Valley in Utah is the most picturesque place on the earth. If you are a lover for raw natural beauty then this valley has a lot to offer you. Living in the lap of nature is a divine experience. This place is really perfect for nature lovers. It has a natural charm that has been untouched by man's exploitation of his surroundings. It is free from pollution since most part of this valley is rural with typical mountain community. Commercial zoning is very little. You can either live or vacation in this mountainous region. Snow basin real estate consultants can help you acquire property in this area. However, if you are considering it as a tourist destination, you should hire the services of Ogden Utah Lodging.

Information about the Valley

The valley is centrally located between Snow Basin, Powder Mountain and Wolf Creek, Utah. It has three townships renowned for snow sports, music concerts, biking, hiking and dining. It is also famous for skiing. Talented tri-athletes participate in huge numbers for snow sports competition. This place is perfect for a vacation. If you are thinking of investment or buying a second home then Powder Mountain real estate can be of great help. They have thorough knowledge of this place. When you live in a place for 20 years, you know every nook and corner of it. This experience serves as an advantage and you can expect the best advice.

Tips to Hire Ogden Valley Utah Real Estate Consultant

There are some features that you must consider while hiring a real estate consultant. In this article, we share some tips to help you make the right decision.

* The real estate consultant should be forthright in his approach. He should be honest, diligent and fair in his dealings. Exaggerating facts, over-selling, miss-selling and inflating the rates are unfair business practices. Stay away from such realtors. It is easy to identify them. All you need is a little presence of mind and carefulness. Pay them a visit personally to find out their traits and qualities.

* Ogden Valley real estate consultant possesses great knowledge about the area. It usually comes with experience and may be extensive if the realtor is a local. Someone who has lived around the valley or city will know more about the place than an outsider will.

* The realtor should be thorough with legal framework. Ideally, he must appoint a lawyer for preparing the property agreement. Ensure that the paperwork is in place, if required get it checked by a lawyer.

* The broker must possess a valid license for trading in real estate/property. This pre-requisite will protect you in case there is a discrepancy. Keep these tips in mind while hiring Ogden valley Utah real estate.

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