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Real Estate/Mortgage Fraud: Facts Every part of the mortgage lending process presents another window of opportunity for people in our industry who, by the very nature of their job description, are exposed to unscrupulous loan originators, builders, real estate agents, borrowers, processors, underwriters, appraisers, lender account reps, and title closers. Each one of these positions or areas, needed to obtain a mortgage, leaves an opportunity for [more...] We should all recognize individuals commit the act of mortgage fraud not companies. Every part of the mortgage lending process presents another window of opportunity for people in our industry who, by the very nature of their job description, are exposed to unscrupulous loan originators, builders, real estate agents, borrowers, processors, underwriters, appraisers, lender account reps, and title closers. Each one of these positions or [more...] Quality Mortgage Services owns a software called Mortgage Analysis Review Software (MARS). It is basically a ASP.net ran on MySQL that allows mortgage auditors to enter data during their audit. It is not a decision making tool, we leave that up to real human intelligence. It is a software that takes the end users through the loan process. The end user must be advanced mortgage [more...] I have clients from supervised wholesale lenders to non-supervised loan correspondents and I have seen about every type of fraud detection tool out there, from document compliance vendors, credit bureau services, automated valuation model (AVM) products, compliance software checklists and data services. For some reason, regardless of the technologies available, mortgage fraud keeps increasing. As more technology keeps surfacing the more fraud prevention data systems [more...] |
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