fraud: FBI Reports Mortgage Fraud up in 2007 - 05/21/08 07:29 PM
The Federal Bureau of Investigation's fiscal year 2007 Mortgage Fraud Report (which ended Oct. 31) found mortgage fraud investigations increased 47% over FY 2006, and continues to rise. The top 10 mortgage fraud states for 2007 were
Florida
Georgia
Michigan
California
Illinois
Ohio
Texas
New York
Colorado
Minnesota
Key findings by (8 comments)
fraud: MORTGAGE FRAUD SCHEMES - 05/21/08 07:28 PM
Mortgage Fraud can occur in many ways. Here are a couple of Mortgage Fraud Schemes the FBI is watching for:
Occupancy fraud
Employment/income fraud
Failure to disclose liabilities
Property Flipping
Silent Second
Nominee Loans/Straw Buyers
Fictitious/Stolen Identity
Inflated Appraisals
Foreclosure Schemes
Equity Skimming
Air Loans
Occupancy fraud
Frequently this (10 comments)
fraud: Tips to protect the Consumer from becoming a victim of Mortgage Fraud - 05/21/08 07:28 PM
Here are several Tips to protect the consumer from becoming a victim of Mortgage Fraud.
Get referrals for real estate and mortgage professionals. Check out the Realtor or mortgage loan officer:
Google them;
Check their licenses with state, county, or city regulatory agencies.
If it sounds too good to be (1 comments)
Alan 'AJ' Nisen California Contra Costa Mortgage Officer Lafayette, CA More about me
A Large Bank in America
Office Phone: (925) 677-4169
Cell Phone: (925) 963-5836
Email Me
AJ, as part of the Active Rain family, uses this forum to discuss issues that affect the Real Estate market, all aspects of Mortgages, Loans and refinancing, to build working relationships and friendships. AJ’s conversations include such topics as, the sub prime lending fallout, mortgage market changes, and localism (revitalizing downtowns, business growth, community volunteerism and events)