It was reported this week that CoreLogic a mortgage data aggregator has lanched a new program to help lenders find potential short sale property flops. The program is designed to alert the mortgage lender when more than one person has applied for a loan on the same property.
In a post written last fall Welcome to Short Sale Flopping, Cindy Jones posted about the growing monetary loss of short sale flops to lenders. The FBI in Northern Virginia has been investigating investment groups and real estate agents who are involved in these transactions.
For more information on CoreLogics new program and short sale flopping you can read the entire article Program Snoops for Short Sale Flops on Inman Connect.
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