[DOWNLOAD] "U.S. v. Moscony" by United States Court of Appeals for the Third Circuit # Book PDF Kindle ePub Free
eBook details
- Title: U.S. v. Moscony
- Author : United States Court of Appeals for the Third Circuit
- Release Date : January 08, 1991
- Genre: Law,Books,Professional & Technical,
- Pages : * pages
- Size : 66 KB
Description
This case is before the court on appeal by John P. Moscony from numerous convictions for offenses which he committed in the operation of his real estate business, arising from home mortgage insurance programs of the United States Department of Housing and Urban Development/Federal Housing Administration. Under these programs, see 24 C.F.R. §Â§ 203 et seq., §Â§ 221 et seq., there are, inter alia, three requirements: (1) the buyer must, in essence, put down at least 3% cash toward the cost of acquisition (the "minimum borrower investment"), 24 C.F.R. §Â§ 203.19(a)(1), 221.50(a); (2) the buyer must use the home as a residence to qualify for a 97% loan-to-value mortgage, 24 C.F.R. §Â§ 203.18(c), 221.20(a); and (3) the buyer must have an income sufficient to make the mortgage reasonably sound to insure, 24 C.F.R. §Â§ 203.33, 221.60(e). Information regarding the buyers compliance with these requirements, and other buyer-related information, is in part received by the FHA on mortgage applications, so-called "FHA 2900s," which bear this warning:
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