Items Tagged with 'mortgage fraud activity'

ARTICLES

  • Fannie Mae identifies new fake employers being used on mortgages

    Five California companies appear to not actually exist
    The number of fake employers showing up on borrowers’ mortgages is growing. Earlier this year, Fannie Mae issued a warning to lenders after identifying more than 30 companies that appeared to be fake that were showing up on borrowers’ mortgage documentation as their place of employment. Now, Fannie Mae is issuing another warning, telling lenders that it has found five more potentially fake employers.
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  • Fannie Mae warns of raft of fake employers being used on borrowers’ mortgages

    10 new potentially fake companies are showing up in mortgage documents
    A few months ago, Fannie Mae issued a warning to lenders, cautioning them of more than 30 employers that were showing up on borrowers’ mortgage documentation that appeared to be fake. Those potentially fake companies were generally located in the Southern California and Los Angeles County areas, but it appears that the fake company problem is now moving north.
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  • Freddie Mac to consumers: Here's how to avoid mortgage fraud

    Video shows 'red flags' to look out for
    As part of a continuing series that aims to educate consumers on all aspects of the homebuying process, Freddie Mac released a video that tells consumers how to avoid mortgage fraud when applying for a loan. In the video, Freddie Mac identifies several "red flags" that consumer should watch out for.
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  • Mortgage fraud rises alongside the housing market

    Higher lending standards create new areas of risk
    As the housing market recovers, the uptick in purchase mortgage applications has its downside—namely the potential for more mortgage fraud. A new CoreLogic study shows lenders received an estimated $5.3 billion in fraudulent home loans.
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  • CoreLogic: Mortgage fraud risk continues to decline

    Lenders must strike balance between future regulations, risks
    "Rising prices and a healing housing market make property-related mortgage application fraud less likely, but a higher level of scrutiny on an applicant’s ability to pay increase the propensity to attempt income-related fraud," CoreLogic chief economist Mark Fleming said.
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