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Articles about Fraud

 

Residential | July 2018 
Blockchain Has Blockbuster Potential
Blockchain, the technology behind online cryptocurrencies such as bitcoin, is attracting a lot of attention lately. Sierra Leone made history in March, for example, by being the first country to use b...
By James V. Luisi, chief information and chief technology officer, KeyStoneB2B

Residential | February 2018 
The Emerging Wire-Fraud Menace
For the past few years, the favorite topics of the mortgage industry have included regulation and enforcement, the purchase market and federal interest rate hikes. During that period, howeve...
By Thomas W. Cronkright II, co-founder and CEO, Sun Title and CertifID; and Lawrence R. Duthler, president and co-owner, Sun Title

Residential | December 2017 
Ease the Pain of Money Laundering
  Key Points Red flags for lenders and loan servicers to watch for Very early loan payoff, especially with cash or from suspicious or unknown sourcesFirst payment defaultCash paymentsSudden payoff ...
By Jeff Kelly, vice president of governance, risk, and compliance, OnCourse Learning

Residential | October 2016 
Improving Asset Verification
The loan-origination process has undergone many changes over the past few years. Driven by regulatory requirements, rising consumer demand and a need to become more efficient, several of these changes...
By Jim Mortensen, vice president of the Identity Solutions product line, Early Warning

Residential | August 2016 
Lurking Hackers Everywhere
Information-security risks have evolved dramatically over the past several years. Malware, or software designed with the intent to steal, damage, disclose or destroy data, has evolved even faster. Hac...
By James M. Deitch, CEO and co-founder, Teraverde Management Advisors

Residential | July 2016 
Beware the Paperwork Predators
Mortgage-loan transactions feature hundreds of pages of documents that contain massive amounts of data. With regulators putting increased pressure on mortgage companies, the accuracy of this data is m...
By Brent A. Chandler, founder and CEO, FormFree Holdings Corp.

Residential | June 2016 
Digital Data Promises to End the Paper Chase
After a long period of financial turmoil, followed by a seemingly endless slate of regulatory changes, the mortgage market once again is on more stable footing and has the bandwidth necessary to embra...
By Mike Romano, vice president of business development, Lendsnap

Residential | November 2003 
An Open Letter to Mortgage Brokers
Editor’s Note:  In the fall of 2000, the author, along with four other south Florida mortgage brokers, was arrested on fraud charges in connection with the procurement of over $7 million in mortgage l...
By Jackie Free, speaker, mortgage broker

Residential | July 2003 
Property Flipping Deemed Predatory Lending: HUD Pronounces Flipped Properties Ineligible for FHA Financing
On May 1, 2003, the U.S. Department of Housing and Urban Development (“HUD”) issued a final rule that renders properties sold within the past 90 days ineligible for financing with Federal Housing Admi...
By Phillip Schulman, attorney, Kirkpatrick & Lockhart LLP

Commercial | August 2004 
Don’t Just Assume Stated Income!
I was talking to a broker about a commercial deal the other day. She had a parking garage deal that was next to an airport that someone was buying for 1.6 million. The person had bought many reside...
By Brian L. Peart, president, Nexus Financial Group Inc.

Residential | December 2004 
Mortgage Fraud: The Multi-Billion Dollar Problem
This October, the mortgage industry made a trip to Capitol Hill to make an impassioned plea to the House Financial Services Subcommittee for a tougher approach to mortgage fraud. Testifying on beha...
By Stephen Gott, CEO and Chairman, AppIntelligence, Inc.

Residential | November 2005 
Fight for the Future
The mortgage industry has experienced one of its most-prosperous times in recent history. Just 10 years ago, our field was one-sixth the size of what it is now. Since then, we have seen a boom in lo...
By Tim Frederick, president, Liberty Home Loan Corp.

Residential | October 2005 
Fighting Fraud
Fraud is a growing issue, and the FBI’s “Financial Crimes Report to the Public” this past May revealed that the number of filed mortgage-fraud reports escalated from 6,936 in 2003 to 17,127 in 2004....
By Steve Schroeder, chief executive officer and co-founder, C&S Marketing

Residential | September 2005 
Inflated Appraisals: The Linchpin of Loan Fraud
No matter what role your company plays in mortgage origination, loan fraud has affected you. With countless reports of overstaffing in every component of the industry and much talk of a housing bub...
By Jennifer Stokley, attorney, Katten Muchin Rosenman LLP

Residential | August 2005 
Straws, Flips and Falling on Your Face
In two recent, separate instances, individuals — including licensed mortgage brokers, loan originators, appraisers and other co-conspirators — were convicted of engaging in fraudulent practices kno...
By Mel Levine, executive vice president, AmericaOne Finance Inc.

 
 

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