Usury is one of those words that is being thrown around alot by people who suspect they were victims of mortgage fraud.  Usury in many mortgage fraud cases is alleged but very rarely proven because it can't be proved by the homeowner. 

As a fraud investigator, what I have been seeing alot of is forgery, sloppy underwriting, sloppy work by the broker, docs that don't match which would nullify the mortgage and the terms of the note, broker not re-disclosing changes in fees and rates, fraudulent appraisals, Brokers and Lenders not properly disclosing terms and fees.  We also see a lot of things going on from the securitization side as well. Many lenders who are foreclosing do not have the legal standing to do so because the mortgage and the note have not been properly conveyed to them.  It boils down to Real Estate 101.  If you don't own it, you can't enforce it.