Today, a blog was started to point out an AR advertiser who was actually blatantly advertising a product intended to be used for consumers to help them commit loan fraud. The professionals that responded were outraged, and before you knew it, the actual advertiser had jumped onto the blog and started spamming everyone.
This prompted me to make a list where we can report (where we SHOULD report) loan fraud and those who are encouraging it. I was so pleased to learn filing a complaint was not an arduous paperwork process. You can file them online in minutes. Now, what happens after that, I don't know.
I went to a seminar some time ago on this topic. The FBI, IRS, attorneys and other officials were there. They admitted to being flooded with reports and to having to prioritize. They look at dollar amounts involved, and also how blatant the fraud is. They look for patterns. Everyone will not, everyone can not, be prosecuted. But, if we report them rather than turning a blind eye, perhaps they will at least be stopped, and if they are some of the really bad guys, then they will be prosecuted, and we can help.
Please keep this list handy, you may need it more than you ever thought you would. If you have additional sources, will you please email me and let me know? As REALTORS® and other industry professionals, it is our duty to protect the public. Let's all do our part!
Federal Trade Commission: http://www.ftc.gov/redirect/form01.shtm
Fannie Mae: https://www.efanniemae.com/utility/legal/antifraud.jsp
Consumer Fraud: http://www.consumerfraudreporting.org/thanks.php
Links to all attorney general offices: http://www.consumerfraudreporting.org/stateattorneygenerallist.php
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