Could This Be Considered Fraud?

Back in 2006 I “purchased” a house in Alabama. I signed all the docs with builder regarding the purchase and paid the deposit etc. However my friend was on the loan for me. (we were seriously going to share in the “equity”). Because I was not on the loan and he needed to re-finance I quit claimed the property to him in May of 2010 however that was not recorded until Jan 2011 (thinking back I am not even sure if I was ever on the deed). My friend is worried that this could be looked at as a fraud. Any thoughts on that?