Finance
What is 'mortgage fraud'?
ACharging interest on a loan
BIntentional misrepresentation of information on a mortgage application to obtain a loan or better terms✓ Correct
CMissing a mortgage payment
DRefinancing a loan before it is paid off
Explanation
Mortgage fraud is the intentional misrepresentation or omission of information on a mortgage application. Examples include inflating income, misrepresenting the purpose of the loan, or submitting false appraisals. It is a federal crime with severe penalties.
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