Constitue mortgage fraud?

If an unlicensed loan officer (3rd party) own a home based business processing loans for home and uses false credit references from family and friends employed at legitimate businesses, would this be mortgage fraud? Why does it matter, if it does matter, that the poeple have or have not lost their homes to foreclosure? Does it matter if the loans are for illegal immigrants? and why do you think the FBI doesn’t take these types of cases seriously in their investigation of mortgage fraud?

Any tips on how to get this type of practice stopped or investigated.

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