Community Development

Updates

Maryland Mortgage Fraud Prevention Project's First Pro Bono Attorney Training

Fri., March 26, 2010
10 a.m. - 2 p.m.

Baltimore Office, Baltimore, Md.

Directions / Parking

Overview

In partnership with the nonprofit public interest law firm, Civil Justice Inc., the Federal Reserve Bank of Richmond will be hosting the first pro bono attorney training of the Maryland Mortgage Fraud Prevention Project.

Civil Justice Inc. is piloting a new statewide program, the Maryland Mortgage Fraud Prevention Project (MFP), which aims to help prevent mortgage fraud by ensuring Maryland homebuyers are signing documents in line with the type of loan they expect. To ensure transactions are in the best interest of homeowners and lenders, first-time homebuyers and those seeking mortgage refinancing are encouraged to seek legal advice prior to signing their purchase contracts and loan documents. By providing homeowners with the access to legal review services prior to signing their mortgage documents, homebuyers can avoid obtaining a mortgage that could place them at risk of foreclosure.

Civil Justice Inc. will coordinate the placement of the case with pro bono attorneys and provide free training, mentoring and malpractice insurance coverage in exchange for a commitment to review documents for either one purchase or refinance. Advanced trainings will be offered covering civil remedies for violations of Maryland’s mortgage fraud, consumer protection, and other related laws that will enable attorneys to develop a new public interest practice area. For each of the advanced training attended, the attorney must accept another document review matter pro bono.