When the FBI was trying to find a new home for your old house
A couple of weeks ago, I wrote about the FBI’s attempts to get the National Association of Realtors to put up an ad in Montgomery Bell Academy’s mortgage directory.
They’re doing this to try and lure potential buyers into buying a new property that’s not exactly the one they’re looking for.
The ad was part of an effort by the Federal Trade Commission to help people avoid buying properties that are too close to schools, airports, or other government buildings.
The Federal Trade Commissioner’s office is working on a new rule that would give the FTC more tools to target potential fraud, and to prevent it from happening in the first place.
The new rule would also force mortgage brokers and brokers who accept mortgages from the Federal Reserve to verify the homebuyer’s income and other information.
The FBI, which is investigating how and why the school is offering such a large price, is trying to get it to do that, too.
“As part of the Federal Housing Finance Agency’s investigation into whether the home was offered by the National Mortgage Association, the FBI and its state partners will be seeking to obtain information from the home to verify that it meets the criteria for a mortgage under the Federal Home Loan Bankruptcy Reform Act of 1990,” the FBI says.
The agency is asking for the home’s current address, current phone number, and current address within the United States.
The home is being offered for $4,500,000.
The listing comes from the FBI Mortgage Fraud Unit, which also investigated the Montgomery Bell academy home, according to the FTC’s press release.
It says the FBI wants to get a list of properties that have been offered for sale on Montgomery Bell’s mortgage ad.
The list will then be used to determine whether the property meets the requirements of the Bankruptcies Reform Act and the mortgage law that created it.
“The Federal Bureau of Investigation and the State of Maryland are conducting this investigation to determine if there are any violations of the federal law governing the mortgage industry and the Bankrupted Homes Recovery Act of 2004, which requires mortgage lenders to verify whether any mortgages were offered or sold in a state where fraud is suspected,” the FTC said.
The FTC is also working with Montgomery Bell to get an additional listing of properties for sale.
It said in a statement that it will “continue to work with the Federal Mortgage Finance Agency to investigate whether there are violations of any federal law that might be violating the Bankrupcy Reform act, the Bankrobbery Prevention Act, and the Bail Reform Act.”
If you have any information about this or any other investigation, please contact the Montgomery, Maryland, FBI office.
This post has been updated.