Mortgage fraud’s new super sleuths by Mark Morris
Kansas City Star - MO,USA
Banks and mortgage lenders generally are the prime victims when loans are not
repaid, but the fallout from a large-scale scam also can devastate
individual ...
Real Estate Scam Leader Targeting California Homeowners in Default Pleads Guilty
"... a $12 million real estate fraud scheme, according to the U.S. attorney’s office for the Central District of California."
Fraud Costs Industry Almost $1 Bil
The residential lending industry lost nearly $1 billion due to mortgage fraud last year, according to new figures compiled by the Federal Bureau of Investigation.
Whether it's borrower fibbing on stated income mortgages or loan officers fudging income higher to qualify a borrower, or more sophisticated chicanery ...
Mortgage Fraud Poster Children
What’s the longest you can be sent to the slammer for if you commit mortgage fraud?
What Lenders Should Know to Combat Fraud
Of late, mortgage fraud has risen and is looking to continue rising. With the industry becoming more paperless — therefore more susceptible to identity theft — as well as high home prices and low interest rates, ...
Insider Fraud Bigger Problem Than Consumer: Part 1 of a 2-part interview
FBI Suspicious Activities Reports have tripled in the last couple of years, from 10,000 to 35,000. That is an indication that fraud is blooming in the business. ...
Turning the Tide: Part 2 of a 2-part interview
Until there is a perceived deterrent out there, then you are not going to able to turn the tide on this one. ...
Six Charged in Phoenix Mortgage Fraud Scheme
After allegedly conspiring to illegally sell 65 properties in the Phoenix area using the Department of Housing and Urban Development “Pre-Foreclosure” sale program, ...
Industry Needs Regulators, Transparency to Combat Fraud
As the secondary, subprime and nontraditional mortgage lending markets have grown, there is an increased need for consumer protection against fraud, ...
Best Practices Best Cure for Fraud
Technology can help curb mortgage fraud but it isn’t the most effective tool for fighting crooks, according to one expert.
Beware, the Soft Fraud Epidemic is Coming!
For decades, the U.S. mortgage market was dominated by fixed-interest rate mortgages. However, during the last five years there has been rapid expansion of “private label” mortgages ...
Atlanta Jury Finds Phillip Hill and Nine Others Guilty of Mortgage Fraud
After an eight-week trial covering the massive mortgage fraud scheme led by Phillip E. Hill -- that even former NBA player Pervis Ellison testified in -- targeting the Atlanta metro housing and condo market ...
Real Estate Scam Leader Targeting California Homeowners in Default Pleads Guilty
After leading a real estate scam that targeted homeowners in California in default on their mortgages and falsely promised them help, a Downey resident pleaded guilty to ...