| The mortgage lending business has grown increasingly complex over time. The combination of changing lending practices, evolving mortgage products, and rapidly increasing real estate values have helped create a lending environment that fosters fraudulent practices. Today, the news media focuses significant attention on the fraud outbreak the industry has been experiencing in recent years … an outbreak that is costing mortgage lenders and investors $1 billion or more each year.
To be successful, fraudsters must fool those who are familiar with the inner workings of a mortgage transaction – at least until they get their subject loans closed and get their money! Experienced fraudsters are constantly developing new tactics and improving their techniques, making detection by the layman or inexperienced mortgage professional virtually impossible. Now you have a virtual tool that can help you be a fraud detective: Warning Signs: The Practical Guide to Mortgage Fraud.
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