And I am sure you had to provide statements.
If you said you had a million in assets...and the bank discovered that during the process, my guess is the bank would not be happy.
Is it a “crime.” Only if they can prove fraud. It would be a cause for withdrawing any offer or foreclosing on an existing loan.
The issue here is that I think I read they were using the “inflated valuations” to get some sort of tax relief. I am not sure how that works—but fraud on a state or fed document is a bad thing.
But, as I wrote before, the three people in question might have their signatures on the docs, but I doubt very much they knew the valuations, instructed anyone to lie, or files an obviously false document.
But we all know that if you are not 100% accurate on government documents, they can nail you to the wall.
I don't think a bank would even be able to pursue a fraud claim in CIVIL court unless it could demonstrate that it had suffered a material loss as a result of my misrepresentations. If I default on the mortgage, for example, then they can sue me in civil court and perhaps even refer me for criminal prosecution. But if I make every payment on the loan and meet all the terms of the loan agreement until the loan is paid off, then the bank probably has no legal standing to take action in civil court.