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Tag Archives: mortgage fraud

Property Value Fraud

Property Value Fraud The Appraisal Property value fraud can occur when criminals, in association with a dishonest appraiser, may have a property appraised at a higher value than it is worth. The criminal will then obtain a mortgage based on the inflated value and abscond with the money. This results in the lender taking possession […]

11 Ways Consumers Can Prevent Mortgage Fraud

11 Ways Consumers Can Prevent Mortgage Fraud While there are several methods available to industry participants to assist in preventing fraud, there are also several approaches available to consumers.  The following advice should be given to a mortgage agent’s client. Title Insurance Consumers should obtain title insurance on every property that they buy and get […]

Current accounts overtake mortgages as fraud of choice | Money | The Guardian

Tighter mortgage controls, identity theft and faster switching are blamed for surge in imposter applications for current accounts Source: Current accounts overtake mortgages as fraud of choice | Money | The Guardian

5 Steps in Fraud Prevention

5 Steps in Fraud Prevention It is of vital interest to both the integrity of the mortgage brokerage industry and the mortgage industry as a whole that mortgage fraud be prevented whenever possible. As criminals use more sophisticated methods of committing fraud it is becoming much more difficult for mortgage agents to identify It is, […]

Mortgage Fraud for Shelter

Mortgage Fraud for Shelter Fraud for shelter is one of the most common forms of fraud in the mortgage industry. This type of fraud occurs when an individual wishes to purchase a home in which to reside with no intent to abscond with mortgage funds or fraudulently sell the property by misstating or misrepresenting his […]

Condo Fraud gets convictions

Condo Fraud – an amazing story

Condo Fraud – An amazing case study I was reading an article in the May/June 2015 edition of Fraud Magazine that I have to share with you.  According to court documents with the United States Department of Justice there was a scheme that was orchestrated by several individuals in Nevada. The scheme went like this. […]

Protecting Your Clients From Identity Theft

Protecting Your Clients From Identity Theft In today’s mortgage market, identity theft and impersonation are a significant concern, making it necessary for the mortgage agent to verify the identity of his or her client at the initial consultation.  Regardless of whether the appointment is conducted at the client’s residence or elsewhere, the mortgage agent must […]