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What is the primary difference between fraud for profit and fraud for housing?

Ethics · 18% of the SAFE exameasy

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Correct answer: Fraud for profit involves industry insiders seeking to extract money; fraud for housing involves borrowers trying to qualify

Fraud for profit is committed by industry insiders (MLOs, appraisers, etc.) to illegally extract funds from lenders. Fraud for housing is committed by borrowers misrepresenting information to qualify for a loan they otherwise could not obtain.

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