First, let's take a look at 18 USC § 1014:
§ 1014. Loan and credit applications generally; renewals and discounts; crop insurance Whoever knowingly makes any false statement or report, or willfully overvalues any land, property or security, for the purpose of influencing in any way the action of the Farm Credit Administration, Federal Crop Insurance Corporation or a company the Corporation reinsures, the Secretary of Agriculture acting through the Farmers Home Administration or successor agency, the Rural Development Administration or successor agency, any Farm Credit Bank, production credit association, agricultural credit association, bank for cooperatives, or any division, officer, or employee thereof, or of any regional agricultural credit corporation established pursuant to law, or a Federal land bank, a Federal land bank association, a Federal Reserve bank, a small business investment company, as defined in section 103 of the Small Business Investment Act of 1958 (15 U.S.C. 662), or the Small Business Administration in connection with any provision of that Act, a Federal credit union, an insured State-chartered credit union, any institution the accounts of which are insured by the Federal Deposit Insurance Corporation, the Office of Thrift Supervision, any Federal home loan bank, the Federal Housing Finance Board, the Federal Deposit Insurance Corporation, the Resolution Trust Corporation, the Farm Credit System Insurance Corporation, or the National Credit Union Administration Board, a branch or agency of a foreign bank (as such terms are defined in paragraphs (1) and (3) of section 1(b) of the International Banking Act of 1978), or an organization operating under section 25 or section 25(a)  of the Federal Reserve Act, upon any application, advance, discount, purchase, purchase agreement, repurchase agreement, commitment, or loan, or any change or extension of any of the same, by renewal, deferment of action or otherwise, or the acceptance, release, or substitution of security therefor, shall be fined not more than $1,000,000 or imprisoned not more than 30 years, or both. The term “State-chartered credit union” includes a credit union chartered under the laws of a State of the United States, the District of Columbia, or any commonwealth, territory, or possession of the United States.
That is one tough paragraph to read. Fortunately, we have some help from Eighth Circuit Court of Appeals:
For his § 1014 conviction, the government had to show that Jenkins made a false statement to a bank with the intent to influence the bank’s actions. See § 1014.
The Fourth Circuit also simplifies it:
A violation of § 1014 occurs when a person "knowingly makes any false statement . . . for the purpose of influencing in any way the action of . . . any institution the accounts of which are insured by the Federal Deposit Insurance Corporation . . . upon any application, advance, discount, purchase, . . . commitment, or loan." 18 U.S.C. § 1014.
Regardless of the chances of prosecution, making false statements to obtain credit is a criminal act. Lying about employment, income, and houshould income definitely fall under § 1014. Why worry about it if you won't be prosecuted? Here's why:
11 USC § 523. Exceptions to discharge (2) for money, property, services, or an extension, renewal, or refinancing of credit, to the extent obtained by— (A) false pretenses, a false representation, or actual fraud, other than a statement respecting the debtor’s or an insider’s financial condition; (B) use of a statement in writing— (i) that is materially false; (ii) respecting the debtor’s or an insider’s financial condition; (iii) on which the creditor to whom the debtor is liable for such money, property, services, or credit reasonably relied; and (iv) that the debtor caused to be made or published with intent to deceive;
Here is an example of a creditor enforcing § 523:
By the way, courts have repeatedly considered statements made on electronic (computer) forms to be written statements.
While I don't think any of us ever plan on filing a BK, you just never know what might happen down the road. This board is full of life stories where something happened out of the member's control.
Please, be entirely truthful on all your applications. You don't want to be stuck holding the bag in the event you have to use a BK for relief.