A client approaches you and asks you to apply for a home loan, with marital status of single (when in fact he’s married with children).
He needs to qualify for a higher loan amount.
He says another broker could make it work on this (single status) basis and was wondering if you would too, as he prefers to do business with you.
What do you do?
You get one name in this industry.
One wrong move and you’ll destroy or lose the lot ( your reputation, trail book, all lender accreditations, industry membership, etc).
Fraud is unacceptable, full stop.
I have never seen compliance as rigorous as it is today.
Try to trick the system and you will get found out.
Be smart. Don’t risk it.
You’ve worked too hard to build value in your business.
(I was asked the above question by a Broker. I’m posting this as a friendly reminder and a friendly warning).