"Operation Pay Back” - Mortgage Fraud Players Contributing -

Mortgage and Lending with First Colorado Lending

Criminals also to blame for housing crisis!

A lot of blame for the housing crisis that helped drive our nation into a financial crisis has been heaped on "greedy" bankers and home buyers trying to live beyond their means.

But there was another element that should not be forgotten - and that was outright criminal activity.

As you know real estate is a people profession. From the real estate agents in the field to the loan officers or loan processors working with borrowers to the title agents sitting down with families closing on their first home, we are people serving people.

Those who would commit fraud know this, perhaps even better than we do...

Read the whole article @ http://tinyurl.com/y6x39za

It is important to note that institutions don't commit fraud, companies don't commit fraud - people commit fraud.

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
Author of "An American Epidemic, Mortgage Fraud a Serious Business"
Follow me on Twitter "FocusonFraud"


Comments (1)

Tim Bradford
Cleveland, OH
NMLS 250013

Michael,   I like the simplicity of your post.   The few words say alot.   What hit me the is the times I have heard realtor, lender or sell tell me that they know a way to make something work, so they say.  My opinion is trying to make something appear legal with one scheme or another is a gray area.   Something that anyone should avoid in my opinon for the simple reason that no one looks good in gray striped clothing,  Merely listening or hearing how someone says they have found a way to make a gray area legal is not enough for me.     Just my .02 Cents.  

Apr 13, 2010 01:16 PM