mortgage fraud: Mortgage Fraud The Easy Way - 11/23/11 12:19 AM
I love Rachel Dollar and the Mortgage Fraud Blog!  It is amazing to see the lengths people will go to steal and defraud!
This latest article drives home the point I often hear in appraisal forums and continuing education classes that, "mortgage fraud would be impossible without a complicit, corrupt appraiser".   And this is true. Note the story in this weeks "Perp Walk" newsletter:   He admittedly purchased, along with others, a residential property but failed to disclose to the mortgage lender that US Appraisal had handled the appraisal.   Mortgage Fraud Blog - Appraiser Admits Role in Mortgage Fraud … (3 comments)

mortgage fraud: See any of your clients on this list? - 09/09/11 03:58 AM
A recent article indicating that FHFA is taking action against some lending institutions, should get you thinking.  Are any of these lenders listed in the article below YOUR clients (present or past)?   And if some examinations of the appraisals done in the portfolios should make their way to any you have done, do you have a well documented workfile to withstand an investigation?
  Questions that should make us revisit our workfile policies, storage of files, and appraisal practices.   FHFA Sues 17 Banks to Recoup Mortgage Losses
The Federal Housing Finance Agency announced Sept. 2 that it filed suit … (5 comments)

mortgage fraud: Do Appraisers Help With Mortgage Fraud? - 11/11/10 06:20 AM
Today's Florida Realtor News highlighted a story about a couple of mortgage brokers who were charged with fraud.
On paragrpah stated "Although 16 named individuals took part in varying roles in the complex network - and all are charged in the indictment with conspiracy to defraud - the premise actually was simple, the government filing shows"
So you know, appraisers had to be part of this in order for these loans to have gone through.   I recently finished a forensic review of an appraisal, where the stated value was $118,000 above the sale price.  The home was not listed in … (0 comments)

mortgage fraud: Are there mortgage brokers still in Florida? - 06/16/10 02:33 AM
I read an article today on the Mortgage Fraud Blog by Rachel Dollar, which detailed how the state of Florida is clamping down on mortgage broker applications in the state - read the whole article here >
The article stated:
Beginning October 1, 2010, Florida will begin participation in the Nationwide Mortgage Licensing System, and all existing loan originators, brokers and lenders and mortgage business owners will be required to reapply for licensure. December 31, 2010, is the last day to apply for licensure.
and later on......
Additionally, licensees will now be required to renew their licenses on a yearly … (3 comments)

Richard D. Ferris, Florida State Certified (FHA) Appraiser ( Rainmaker large

Richard D. Ferris

Florida State Certified (FHA) Appraiser

Clermont, FL

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