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Good Article on Mortgage Fraud in Arizona

By
Mortgage and Lending with Gateway Mortgage Group NMLS# 1290123

I saw this article on azcentral.com and couldn't understand how so many people and mortgage brokers do not understand that getting cash back on purchase is fraud. They are not talking about the holdbacks for repairs or credits for paint or closing costs but like 50- 100 grand back. I must say, I have lost deals because I was not willing to risk my career and life on someone wanting to participate in fraud. I suggest reading this article no matter where you are because it is sweeping.

http://www.azcentral.com/home/hb101/articles/0120mortgagefraud0121.html

Posted by

Michael Martell

Licensed Mortgage Originator (AZ and WA)

Stearns Lending

NMLS# 1290123

7850

Ed Rybczynski
Integrity Real Estate - Havre de Grace, MD
Your Source for Local Real Estate

Mike

Thanks for sharing the artcle.  I had a chance to look it over and can't wait to read all the content.  Mortgage fraud can only be stopped by people sharing the truth.

Jan 25, 2007 12:11 AM