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Sponsored by Lorman Education
Product ID: 405671EAU
 
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Mortgage Fraud: An Epidemic

OnDemand Webinar (89 minutes)

Take an in-depth look at mortgage fraud and its impact across the banking industry.It's estimated that mortgage fraud such as lying on loan applications and inflated appraisals will cost the industry about $2.5 billion annually for several years. The $10 trillion-dollar mortgage industry is still rife with fraud. Mortgage brokers, real estate agents, buyers, sellers, appraisers and builders can all commit fraud on any property transaction. The solution is to be vigilant through all steps of the mortgage process. We will discuss different types of mortgage scams and how to investigate them. Many of the investigations discussed can be accessed through public records or low-cost databases.

Authors

Patrick McPherson, Metro Legal Services

Agenda

What Is Mortgage Fraud?

• What Is the Cost of Mortgage Fraud?

• Who Are the Victims?

• What Are the Penalties?

Warnings and Indicators

• High Risk Red Flags

• Mortgage Application

• Sales Contract

• Credit Reports

Common Schemes

• Identity Theft (How It Works)

• Variations

• How to Investigate

• Occupancy Fraud

• Appraisal Fraud

• Predatory Lending

• Kickback Scams

Tools Available to Fight Fraud

• Free Databases

• Proprietary Databases

• Public Records