Repeat Mortgage Fraud an Issue

Two women in Lauderdale County, Mississippi were charged with mortgage fraud this week for committing wire fraud. A mortgage company owner and an employee of a law firm were both charged and found guilty of wire fraud and were given sentences of three years, to be completed in different ways. The fact that makes these cases different than some of the mortgage fraud in the news lately is that both women had previous charges of mortgage fraud on their criminal records. A third unrelated mortgage case was closed this week in the same county.

While most people convicted of mortgage fraud are not able to conduct the same sort of business again, the owner of the mortgage company had obtained a license to do business as a mortgage company. The concern for this type of illegal actions is making it harder to conduct repeat offenses, but the cases in Lauderdale County proves that the system has not yet worked out all the downfalls of keeping criminals from entering into the mortgage industry multiple times.\r\n