South Dakota - Mortgage Fraud Resources

The penalties for mortgage fraud in South Dakota, as in many states, can be severe. A mortgage applicant who purposely used the wrong Social Security number on a form received a penalty of up to 15 years in prison in December 2008.

Three months later, a lender who had applied for multiple mortgages on behalf of some clients, but pocked the proceeds of those mortgages himself, rather than pass them along to his clients, was sentenced to 25 years and a fine in the hundreds of thousands of dollars.

Local law enforcement agencies throughout South Dakota have been working with state and federal organizations to combat this growing trend. Some of those organizations are listed below. Consumers can also contact their local police or sheriff's department for more information on reporting a fraudulent case.

FBI field offices are responsible for investigating potential cases of fraud and work with the offices of the state and U.S. attorneys general to prosecute criminals. Local offices of the Department of Housing and Urban Development (HUD) can help mortgage applicants find the resources they need to make smart mortgage decisions.

The South Carolina Real Estate Commission and Appraiser Program are regulatory and enforcement bodies that handle consumer complaints regarding those professions. The Real Estate Commission also has mortgage fraud information for consumers and can direct them to appropriate contacts for specific questions on mortgage fraud.

Finally, the Better Business Bureau sets guidelines by which businesses should operate and takes steps to ensure that consumers are treated fairly.

South Dakota Office of the Attorney General
www.state.sd.us/attorney
Division of Consumer Protection
1302 E Hwy 14, Suite 3
Pierre SD 57501-8503
Phone: (605) 773-4400
Toll-free: (800) 300-1986
Email: consumerhelp@state.sd.us

South Dakota Real Estate Commission
http://www.state.sd.us/sdrec/
221 W. Capitol Ste. 101
Pierre, SD 57501
Phone: (605) 773-3600
Email: drr.realestate@state.sd.us

South Dakota Appraiser Certification Program
http://www.state.sd.us/drr2/reg/appraisers/appraiser.html
445 E. Capitol Ave,
Pierre, SD 57501-3185
Phone: (605) 773-4608
Email: sherry.bren@state.sd.us

FBI Minneapolis Field Office
http://minneapolis.fbi.gov/
111 Washington Avenue, South, Suite 1100
Minneapolis, MN 55401-2176
Phone: (612) 376-3200
Email: minneapolis@ic.fbi.gov

Department of Housing and Urban Development (HUD)
Sioux Falls Field Office
www.hud.gov/local/sd/working/siouxfallsoffice.cfm
4301 West 57th Street
Suite 101
Sioux Falls, SD 57108
Phone: (605) 330-4223
TTY: (605) 330-4426

National Credit Union Administration
Region IV - Austin
www.ncua.gov/AboutNcua/org/Region4.htm
4807 Spicewood Springs Rd., Suite 5200
Austin, TX 78759-8490
Phone: (512) 342-5600
Email: Region4@ncua.gov

U.S. Treasury Office of Thrift Supervision
1700 G Street, NW
Washington, DC 20552
Consumer Complaints
http://www.ots.treas.gov/?p=ConsumerComplaintsInquiries
Phone: (800) 842-6929
E-mail: consumer.complaint@ots.treas.gov

Central Region Office
1 South Wacker Drive - Suite 2000
Chicago, Illinois 60606
Phone (312) 917-5000

National Fair Housing Alliance
http://www.nationalfairhousing.org/
1212 New York Avenue, NW Ste 525
Washington, DC 2005
Phone: (202) 898-1661
E-mail: nfha@nationalfairhousing.org

To locate your local affiliate:
http://www.nationalfairhousing.org/MemberOrganizations/tabid/2574/Default.aspx

Better Business Bureau South Dakota Office
http://nebraska.bbb.org/
300 N Phillips Avenue, Suite 202
Sioux Falls, SD 57104
Phone: (605) 271-2066
E-mail: info@siouxlandbbb.org