I think I was misguided by my loan officer. I'm in a mess and don't know what to do.

I started a temporary job out of state and rather than rent a property there, decided to buy. I needed additional $ for the down payment and suggested leveraging the equity in my home by doing a cash out refi. He wasn't licensed in the state where my first home was located so he referred me to another loan officer who worked for a different company but who had previously worked with the loan officer handling my mortgage for the first company. When I discussed with him why I needed to do the cash out refi, he said, "Don't tell me about any other properties you are buying." And guided me into a cash-out refi tryst presumes the home is owner-occupied. I qualified for the loan, closed, and rolled over some of that money into the mortgage on my second house. I closed on both of these loans several months ago and more than once had to seek guidance from both loan officers on how to answer compliance questions. I just received notice from compliance at the company where I did my refi that they have discovered this other home that I purchased and want more information. I feel like I was guided into committing fraud and I don't know what to do. Where should I start? Hire an attorney? by Seakille55 from , California. Jan 28th 2022 Reply