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Fraud to a mortgage company involving an agent is when funds are provided to the borrower (from a agent) prior to closing where the borrower claims to the financial company that the funds are indeed his/her own. Most mortgage companies protect themselves against such actions by asking for 2-3 month bank statements - seasoned funds. In the past 7 years a lot of banks (most gone) jumped into the lending market and cut underwriting corners and I have read where these actions did exist. In all the cases I read the mortgage lender went after the consumer or mortgage broker (most of the time enacting the acceleration clause). I have not yet seen any court cases that had a real estate broker responsible for a loan based on any cash back properly disclose or not. But I always disclose upfront on every transaction on the purchase agreement so that everyone is aware of my future actions.

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