What does a Mortgage Fraud Lawyer do?

Mary McMahon

A mortgage fraud lawyer is a real estate attorney who focuses on mortgage fraud cases. Fraud in real estate transactions can be very complex, and relying on a specialist can result in a better outcome. Banks and other financial institutions use attorneys who specialize in this area as do consumers who wish to file suit in cases where they feel they have been victims of mortgage fraud. Listings of mortgage fraud lawyers in a given region can usually be found in phone books and professional registries, a good starting point for those seeking legal services.

Businessman with a briefcase
Businessman with a briefcase

To become a mortgage fraud lawyer, it is necessary to go to law school and pass the bar to be admitted to practice in a given region. In areas with reciprocal bar agreements, attorneys can practice by agreement with the local bar association. In school, the attorney will take elective courses in real estate law to get familiar with relevant legal topics. Lawyers may also seek internships with firms specializing in this area to get professional experience before graduation.

The mortgage fraud lawyer can review documentation associated with a mortgage for signs of fraud and discuss the options with the client. The evidence may be thin on the ground, in which case the attorney may be reluctant to recommend pursuing the matter in court. Mortgage fraud lawyers can make legal filings, assist clients with disputes, and represent their clients in court if it becomes necessary. They can also negotiate settlements, in the event that both parties agree to consider a settlement instead of proceeding to court.

In addition to working directly with clients, a mortgage fraud lawyer may also work with government representatives like legislators and representatives of housing agencies. Attorneys can help develop new policies and laws, and may offer valuable insight into developments in the industry. Consulting services may be a full time job or an adjunct to an existing practice, depending on an attorney's public profile and level of professional development. More experienced attorneys with a good reputation are more likely to be able to rely on consulting work for income.

Working as a mortgage fraud lawyer requires keeping up with developments in the field, including new mortgage products, changes to the law, and emerging industry standards and practices. Professional organizations provide a network for continuing education, including conferences, trade magazines, and other opportunities for contact with other lawyers so attorneys can develop more professional skills. Belonging to such organizations can also provide more employment options.

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