Contracts
In Oklahoma, a buyer who commits fraud to obtain a mortgage loan may face:
AOnly a civil penalty of $500
BFederal mortgage fraud charges, which are serious felonies that can result in substantial prison sentences and fines under federal law✓ Correct
COnly OREC disciplinary action
DNo consequences if the loan is repaid
Explanation
Mortgage fraud is a serious federal crime under 18 U.S.C. § 1014. It can result in up to 30 years in prison and substantial fines. The FBI and HUD actively investigate and prosecute mortgage fraud schemes.
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