Ethical Practices

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FLORIDA REAL ESTATE SALES ASSOCIATE COURSE

Types of mortgages

Section 63 of 72

Real estate licensees have a legal and ethical duty to protect the integrity of the market. Mortgage fraud is not just a "victimless crime" against a bank; it damages neighborhoods by leading to foreclosures and declining property values. It is also a federal crime punishable by fines and imprisonment. Ethical practice requires that a licensee never signs a document they know to be false and never encourages a client to misrepresent facts to a lender. If a licensee suspects fraud—such as a buyer offering money under the table or asking the agent to hide details from the closing statement—they must withdraw from the transaction and report the activity to the appropriate authorities or their broker.