What constitues Fraud?

[melinfla]

I REALLY looked at my loan docs yesterday. When we went to closing I was so distraught over the way it was handled. No idea that there was a prepay penalty until the closing table, didn't even know it was an adjustable rate loan.

But on the info they have my income wrong, my employer, everything. Just not true. I mean it is obviously incorrect info. They have my husband "borrower" and myself "co-borrow" listed at the exact same monthly income (where they came up with those numbers is a mystery in itself) and have us both working at the same place. For my husband!

That was just simply false info. I worked a regular job, had submitted paystubs, w-2's etc. to our mortgage broker.

I don't even know if it matters but just thought I'd ask. Is this fraud?

Mel

[Cat Damiano]

Mel,


It sure sound like it for the application, but you would need to get the copies of the docs that Chase holds to compare........because that info could be on the docs you signed as well....... but as far as the adjustable rate goes........you would have signed at least two docs stating that.........one would be the Truth in Lending statement which shows the amortization schedule........so check that.......another would be the Adjustable Rate Note Rider.........so look for that too.......

To get the copy of the docs that Chase holds...........

Put together a QWR (Qualified Written Request)

In that letter demand your Life of Loan History, Copy of Note, Deed of Trust, Riders, all Assignments of the Deed of Trust, TIL, Right of Rescission (if refi), Lender Final HUD-1, Copy of Initial Loan Application and Final Lender Loan Application, all Disclosures and all Loan Documents in your file, Copy of Appraisal.

There is a blank copy of the request in the Homeowner's Tool Box to the Left of the Forum


Make sure you send it certified mail return receipt required to addresses below:


Chase Home Finance LLC
10790 Rancho Bernardo Rd.
San Diego, CA 92127


Chase Home Finance LLC
3415 Vision Dr.
Columbus, Ohio 43219

[Alexis]

Hi Cat --"In that letter demand your Life of Loan History, Copy of Note, Deed of Trust, Riders, all Assignments of the Deed of Trust, TIL, Right of Rescission (if refi), Lender Final HUD-1, Copy of Initial Loan Application and Final Lender Loan Application, all Disclosures and all Loan Documents in your file, Copy of Appraisal". Does this request apply also to a re-fi that was purchased by another loan company? Just curious - thanks, Alexis

[Cat Damiano]

You can writie a QWR to whoever is servicing the loan to get copies of the docs that you need............just be careful because some charge a fee for obtaining certain docements and also check online because some lenders offer the copies of documents in your online account.