A person who commits a pattern of mortgage fraud may face which of the following penalties?

Choosing both a fine and imprisonment as the correct answer reflects the severe consequences associated with committing mortgage fraud. Mortgage fraud is considered a serious crime due to its potential to impact the housing market and the financial wellbeing of individuals involved.

The combination of penalties serves as a deterrent, emphasizing that the legal system takes such offenses seriously. In many jurisdictions, including Minnesota, engaging in a pattern of mortgage fraud can lead to significant fines and potential prison time, demonstrating the gravity of the offense.

Thus, the penalties often involve both monetary fines, which can be substantial, and a period of incarceration, to reflect the multifaceted harm caused by the crime. The understanding of these penalties is crucial for anyone involved in real estate or mortgage lending to ensure compliance with regulations and avoid severe legal repercussions.