Detecting mortgage fraud is a mind-set, like exercising or eating right. Habits are born of routine and the surest way to start spotting fraud is to become aware of its existence.
A former loan officer in Vancouver, Washington, was sentenced on March 29, 2010, by U.S. District Judge Garr M. King to serve 24 months in prison after pleading guilty to a charge of aggravated identity theft. Herndon must also serve one year of supervised release following his prison term. The defendant was ordered to report to the custody of the Bureau of Prisons on June 1, 2010.
Please share these articles with friends and family! One of the most difficult aspects of dealing with mortgage fraud is that it is hard to know the scope of the problem. They won't look like criminals, they'll look like loan officers, real estate agents, members of management and loan processors or closers and, of course, the next door neighbor or even a friend.
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It is important to note that institutions don't commit fraud, lenders don't commit fraud, companies don't commit fraud - people commit fraud and unfortunately even close friends sometimes.
We must be vigilant against fraud, recognizing its signs and taking proactive, definite, and realistic steps to not only prevent it but also punish it.
It starts with me.
It starts with you.
It starts with us...
Michael S. Richardson
Director/Mortgage Fraud Services
www.mortgagefraudsolutions.com
Author of "An American Epidemic, Mortgage Fraud a Serious Business"
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