While information about mortgage fraud seems to be everywhere it can still seem unclear as to what exactly mortgage fraud is.The mortgage industry divides mortgage fraud into two categories: fraud for housing and fraud for profit. What can you the consumer do to protect yourself from falling victim to mortgage fraud? What can banks and mortgage lenders do to protect themselves from falling victim to mortgage fraud? Learn more here about mortgage fraud and how to protect yourself.
What can you the consumer do to protect yourself from falling victim to mortgage fraud? Learn some ways to figure out if your lender is trustworthy and steers clear of mortgage fraud.
What can banks and mortgage lenders do to protect themselves from falling victim to mortgage fraud? How do they protect themselves mortgage fraud? The best way for mortgage lenders to protect themselves from mortgage fraud is to practice identity risk management.
Today on the Ilyce Glink Show, we talked about Operation Malicious Mortgage, the FBI's huge national takedown of mortgage fraud schemes. We also talked about how the FHA is going to renew attempts to get rid of third-party down payment programs, like Nehemiah, and why that's so important. For show notes and updates through the week, check out her blog at www.thinkglink.com/blog , and sign up for her free weekly newsletter. Check out the videos at www.expertrealestatetips.net. And be sure to subscribe to her YouTube channel.
Lenders want to see buyers put down their own down payment, otherwise it could be seen as mortgage fraud. There are legitimate ways for a seller to assist a buyer in the purchase of a home and avoid possible fraud. Some loan programs will allow a seller to contribute 3 percent or even 5 percent of closing costs that might be paid by a buyer.
The Department of Justice today announced that eight people were indicted for $35 million of mortgage fraud in Maryland. You can likely find their na...
A seller asks about selling his home for a lower home value than its appraisal value. He wonders if selling for a lower home value could be illegal. A wrong home value could lead to mortgage fraud or call the appraisal into question.