How to report Mortgage Fraud in Miami-Dade County

By
Real Estate Agent with Majestic Properties 3061802
Thanks to my good friend George Souto's post, Mortgage Fraud .................. It Is Still Here. I decided to do a little research on how to report Mortgage Fraud in Miami-Dade County.

According to the FBI, Florida is amongst the top 10 mortgage fraud states in the United States. It is our duty to report it and put a stop to it. Mortgage Fraud is a felony and playing the ignorant role is no longer acceptable. We hear nightmares about Miami Real Estate, and some people don't report it because they don't know how.

What is Mortgage Fraud?

As per the FBI:

"Mortgage Fraud is defined as the intentional misstatement, misrepresentation, or omission by an applicant or other interested parties, relied on by a lender or underwriter to provide funding for, to purchase, or to insure a mortgage loan"

FBI Mortgage Fraud Graphic

(please read the link to the FBI website because it is informative and educational)

How do you report Mortgage Fraud in Miami-Dade County?

The Office of the Mayor has formed a Mortgage Fraud Task Force whose mission is to reduce mortgage fraud and prevent victimization of individuals and businesses.

You can fill-out THIS FORM, and it will be routed to the Miami-Dade Police Department, Economic Crimes Division and either handled directly or forwarded to the proper law enforcement department on a case by case basis.

Watch the video with Mayor Carlos Alvarez

Mortgage Fraud video with Mayor Alvarz

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Rainmaker
223,300
Rick & Ines - Miami Beach Real Estate
Majestic Properties - Miami Beach, FL

Hi Alex - been busy......real busy - no complaints here!  There has to be a way to really get the information out there for Miami people.

Matt - I didn't read it but you should report them - that's an outrage.  It's because of scams like those that the economy is the way it is and people are loosing their homes.  It's a shame.

Feb 13, 2008 12:43 AM #9
Rainer
168,035
Matthew J Blum - (retired from the business)
Palm Beach Gardens, FL
Ines, I agree with you 100% it is because of people like that we are in the trouble we are in.  By the way I was just down in Miami yesterday with a client near the Grove. Wow did that bring back memories
Feb 13, 2008 01:35 AM #10
Rainmaker
111,050
Nancy Brenner
Referral Associates of Georgia, Inc. - Roswell, GA
Roswell Georgia Real Estate Agent
Mortgage Fraud in the Atlanta area is awfull.  I fired a client last year because she told me that she was putting 'owner occupant' on her application for a HUD home, when in fact, she had no intentions of living in the house at all.  Come to think of it, she was from Florida!
Feb 13, 2008 02:11 AM #11
Rainmaker
223,300
Rick & Ines - Miami Beach Real Estate
Majestic Properties - Miami Beach, FL

Matt - I was at The Grove yesterday as well!  We probably passed each other! :)

Nancy - Floridians get a bad rap and with every right - I'm glad you fired the client, a lot of people would have been tempted since "they" did not suggested, and it's just as bad and you would be just as guilty.

Feb 13, 2008 02:33 AM #12
Rainmaker
147,221
Kaye Thomas
Real Estate West - Manhattan Beach, CA
e-PRO, Manhattan Beach CA

Ines- There will always be Mortgage fraud because people want to believe there is an easier solution.  Everyday in the LA Times  I see ads for loans that could not possibly be "legal".

I signed loan docs with a buyer yesterday and the buyer had to sign at least 10 extra documents asking if he understood his loan and asking if all the information was the truth... fortunately Brian Brady was the loan agent and he went over each doc wit the buyers..

Feb 13, 2008 03:32 PM #13
Rainmaker
223,300
Rick & Ines - Miami Beach Real Estate
Majestic Properties - Miami Beach, FL
Kaye - you are right - many people want the easy way out and don't realize it's worse for them in the long run.  The amazing one is those blatant ones with forged signatures and bad appraisals - we have sent many to our brokerages' legal department.  I'm just glad it has slowed down though.  Good luck with that closing!
Feb 14, 2008 12:40 AM #14
Rainmaker
595,547
Lisa Hill
Florida Property Experts - Daytona Beach, FL
Daytona Beach Real Estate
I like your little example picture. That will help your buyers and sellers to truly understand how this illegal process works. Hopefully, it will also scare the people who are considering this.
Feb 21, 2008 01:00 PM #15
Rainmaker
223,300
Rick & Ines - Miami Beach Real Estate
Majestic Properties - Miami Beach, FL
Hey Lisa - that picture comes directly from the FBI site - nice pictorial no? :)
Feb 21, 2008 01:08 PM #16
Rainmaker
101,923
Ray Nellum
Envision Real Estate Group, LLC. - Fort Smith, AR
Fort Smith Real Estate
Ines, that is really some great information.  There are so many that need to know the signs and where to go for help.  Great post.
Feb 29, 2008 12:31 PM #17
Rainmaker
223,300
Rick & Ines - Miami Beach Real Estate
Majestic Properties - Miami Beach, FL
Ray - funny you mention the signs.  We have seen those so often but don't realize that many don't know.  We were having a discussion the other day that some of those mail order and tv investment programs teach methods that may raise red flags.  Education again is key and reporting it is a crucial part of the equation.
Feb 29, 2008 01:27 PM #18
Rainer
178,223
Birmingham Alabama Real Estate, Stephen Wolfe
LivingInBirmingham.com - Birmingham, AL
Ines, you know I had not really thought about it, but this really is important. When we educate the public about how to put a stop to these guys they will have two choices, get caught or get out. Either way, we have done our area some good.
Mar 15, 2008 03:17 PM #19
Rainmaker
223,300
Rick & Ines - Miami Beach Real Estate
Majestic Properties - Miami Beach, FL
Stephen - you are absolutely right - once the public starts reporting these crooks, it will get a lot better.
Mar 15, 2008 03:40 PM #20
Rainmaker
150,060
Janie Coffey
First Coast Sotheby’s International Realty - Ponte Vedra, FL
Uniting Extraordinary Homes w/ Extraordinary Lives
Great post Ines on a needed topic.  HOw many of us were hurt here in Miami Dade by mortgage fraud?  We will see the results for years to come!
Mar 16, 2008 01:55 AM #21
Rainmaker
223,300
Rick & Ines - Miami Beach Real Estate
Majestic Properties - Miami Beach, FL
Janie - I'm with you - and what people don't understant is that not reporting it is just as bad.  Now if only Miami-Dade would do a little more to advertise this and get it out to the public.
Mar 16, 2008 08:25 AM #22
Rainmaker
128,178
Tchaka Owen
Galleria International Realty - Hollywood, FL
Ines, do you know if there's a similar form for Broward County?
Apr 28, 2008 04:41 AM #23
Rainmaker
223,300
Rick & Ines - Miami Beach Real Estate
Majestic Properties - Miami Beach, FL
Tchaka - I just found this that may be helpful - http://www.broward.org/records/cri04100.htm (we really don't deal with Broward County) - let me know if it helps.
Apr 28, 2008 05:28 AM #24
Anonymous
Hector Hernandez, Esq. and Armando Bravo are part of a Fraud Sch

From another Blog...

Anonymous said...

Come to 9001 and 9099 SW 77th Avenue and try buying a unit for $200,000 - $300,000. You pay $999 down at Dadeland Place with no closing costs. Hector Hernandez, Esq. and Armando Bravo are part of the Palmetto Towers Group LLC. Unfortunately, they will not disclose to you the condition of the unit and indicate on the contract that it is being sold "as is". These units do not pass inspection and the elevators have failed all of their inspections. Fires have occurred due to old appliances and the fire alarm did not even activate. The inspectors are way behind in their follow-up, as more units are being sold to mostly those from other countries without any background approval from the Condo association that is not meeting. Ocean Bank and Country-Wide Mortgage should be closely questionned as to how they allowed an entire community of Section 8 and low to moderate income individuals to be totally displaced without any monies for relocation while their condo conversion scheme plays out. Let's further check with Tallahassee at the Condominium and Land Sales division and find out who allowed this condo conversion without inspections passing from the County. So far there have been five foreclosures. The building has plumbing leaks, mold and mildew, lead paint issues, bad elevators, and will not pass a 40 year recertification. Is there mortgage fraud? Who is able to investigate this fiasco?

Aug 06, 2008 04:58 PM #25
Rainmaker
223,300
Rick & Ines - Miami Beach Real Estate
Majestic Properties - Miami Beach, FL

Anonymous - I cannot tell you whether or not that is mortgage fraud, but I can encourage you to report them and let the authorities do their investigation.   This is the perfect example why someone would need representation when buying real estate.  An ethical Realtor would have encouraged you to have inspections done before buying, would have encouraged to shop your financing rate with several lenders and would have been diligent about condo approval.

I have to also tell you that there are tons of condo conversion projects that have not passed building inspections and have liens on them (we just encountered one in South Beach) - so dealing with a good title company is crucial.

Please come back and let us know what happens with this.

**the information provided in your comment is your opinion and your experience and we are not responsible for the content**

Aug 07, 2008 01:40 AM #26
Rainmaker
128,178
Tchaka Owen
Galleria International Realty - Hollywood, FL

I agree with Rick & Ines in that this isn't proof of mortgage fraud.  BUT, I would certainly suspect it.  If the building is not passing inspection and the buyers are using government backed mortgages, then there's a problem.  If they are in such bad shape, i'm not sure how the appraisers are getting by without noting issues.  And as we all know, there's no such thing as "no closing costs".  You're paying them either upfront or in the back. 

Aug 07, 2008 02:40 AM #27
Anonymous
Delores
I was sreisouly at DefCon 5 until I saw this post.
Nov 11, 2011 07:33 AM #28
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Rainmaker
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Rick & Ines - Miami Beach Real Estate

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