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Fake Documents

By
Real Estate Broker/Owner with Michael Smith (Homexpo Realty)

I'm amazed at what some people are willing to do to make money. I just read an article about an agent in Texas who helped buyers get FHA loans using fake pay stubs and work histories. This is just a bad idea. I'm guessing this agent must not know much about the loan process.

These loans require the buyer to sign a 4506T which is a request for the buyers tax transcripts. On top of this lenders always do a verification of employment.

This is definitely not a long term plan for success.

Karen Burket
Bank of Oregon a division of Willamette Valley Bank - Medford, OR
Valley Mortgage Grou, Conventional, FHA, VA, mortgages

Fraud fraud fraud!!!!!!  I just posted a blog on this very topic the other day Michael.  Definitely NOT the type of behavior our industry needs!  All the best to you! 

Jul 07, 2011 07:02 AM
Rosalie Evans
Meritus Group Real Estate - Sioux Falls, SD
The Evans Group, Sioux Falls, SD Homes For Sale

Wow I have not heard of that one until now! Isn't it amazing what people will do to get out of doing the right thing! Thankfully they double check these things by getting tax records and employment verifications.

Jul 07, 2011 07:11 AM
Richard Weeks
Dallas, TX
REALTORĀ®, Broker

Why anyone would even consider being involved in mortgage fraud is amazing.

Jul 07, 2011 07:29 AM
Greg Cook
Platinum Home Mortgage - Temecula, CA
Mortgage Consultant NMLS ID# 283159

He obviously missed the day they taught Ethics.

He laso missed the day where they mentioned that mortgage fraud is a federal offense and you don't get to do

wear one of those ankle bracelets like LIndsey Lohan.

Jul 07, 2011 07:44 AM
Sharon Alters
Coldwell Banker Vanguard Realty - 904-673-2308 - Fleming Island, FL
Realtor - Homes for Sale Fleming Island FL

Definitely a plan for the agent fo have a change of wardrobe and occupation. Incredible.

Sharon

Jul 14, 2011 02:37 PM