This guide offers insights and instructions for those considering blowing the whistle on housing and mortgage fraud. False statements to obtain property or credit.To catch fraudulent borrowers, lenders usually require you to sign a form 4506T, which allows them to verify your income with the IRS. Lying on a loan application may seem harmless, but even if a lender does not verify every piece of information, it is still considered fraud. He was a mortgage broker. He said the system basically wants you to commit fraud. Before you sign a mortgage application or any other loan documents, carefully review them to make sure they are complete and accurate. Someone else may try to falsify your documents or encourage you to do so. Using customized or altered bank statements, such as those from proofofstatement. Com, to apply for a loan is both unethical and illegal.