Mortgage Real Estate Fraud
The Problem: Mortgage and real estate fraud is becoming the most profitable of all organized criminal acts. The real estate business is a web of inter-dependent parties including the buyers, sellers, mortgage brokers, banks, appraisers, housing inspectors and real estate agents. A combination of two to four of these parties conspiring to "fudge and flip" a transaction can result in hundreds and thousands of dollars lost to all parties not involved in the scam. In one scam alone, 51 homes together valued at $300 million were discovered. Once the scam is realized, the finger pointing begins between the scam artists.
The Solution: Prevent this from happening under your watch. Become informed. Know your options and what to look for. There are often tell-tale signals, red flags that pop up from the very beginning of most transactions. Upon understanding the nature of the crime, a professional will be able to pro-actively protect themselves and their clients.
You'll Learn:
- The Costs and Impact of Fraud.
- Who's Doing It?
- How Are They Doing It?
- Different Types of Fraud.
- Where Are The Hotspots?
- What Are the Red Flags?
- Know Your Rights.
- Know What You Are Signing.
- Protect Your Business And Your Clients.
Download
PDF version
Similar Posts from the Security Blog
- Criminal Hackers Steal Victims Home
A sophisticated scam left an Australian business man with a half million dollars stolen when criminals sold 2 properties and almost a 3rd using his stolen credentials. This kind of scam is happening in the U.S. too.
The business man had been overseas for a while and his neighbor contacted him at one point because his
- How to Spot a Mortgage Scam
Mortgage fraud is when someone knowingly uses or facilitates the use of any deliberate misstatement, misrepresentation, or omission, knowing the same to contain a misstatement, misrepresentation, or omission, during the mortgage lending process with the intention that it be relied on by a mortgage lender, borrower, or any other party to the mortgage lending process.
In
- What Is Business or Corporate Identity Theft?
Business or corporate identity theft occurs when a thief uses an existing business’ name to obtain credit, or bills a business’s legitimate clients for products and services. Often, but not always, a Social Security Number of a company officer is required to commit business identity theft. Other identifiers, such as Federal IDs or Employer’s Identification
- Thieves Hit Real Estate Open Houses
Here’s a strange proposition; place an ad in the local paper requesting complete strangers come to your home and look inside your kitchen, bathroom, your kids room and your bedroom. In the ad tell them how nice the house is and you want them to see it from 2-4 on Sunday
- Identity Theft Can Lead to the Most Devastating Instances of Mortgage Fraud—Identity Theft Expert and Speaker on Personal Security
(BOSTON, Mass. – April 4, 2007 – IDTheftSecurity.com) The Federal Bureau of Investigation and the Mortgage Bankers Association (MBA) have recently added to their joint efforts against mortgage fraud. Robert Siciliano, a widely televised and quoted personal security and identity theft expert, encouraged their cooperation and pressed for more action. According to Siciliano, identity thieves
