"There is absolutely nothing relevant to the inquiry, nothing there that is the property of Rebekah, " Mr. Wilson said at the time.

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The government is admittedly targeting property speculation, so this may not be as relevant to borrowers in other sectors.

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Fraud for housing is committed by borrowers who, often with the assistance of loan officers or other lender personnel, misrepresent or omit relevant details about employment and income, debt and credit, or property value and condition with the goal of obtaining or maintaining real estate ownership.

FORBES: These tips will help you avoid becoming the victim of fraud.

Fraud for profit is committed by industry professionals who misstate, misrepresent or omit relevant details about their personal or their clients' employment and income, debt and credit, or property value and condition with the goal of maximizing profits on a loan transaction.

FORBES: These tips will help you avoid becoming the victim of fraud.