Data Facts Lending Solutions Blog

The High Cost of Mortgage Fraud

Posted by Jennifer Hamby

Dec 5, 2014 11:53:53 AM

Currently, Over 80,000 mortgage applications each year have what is considered “HIGH FRAUD RISK” and the cost to lenders and the financial system are estimated to be BILLIONS!! 

Mortgage fraud is defined by the Mortgage Bankers Association as “any misrepresentation to the lender from a mortgage applicant for the purpose of being approved for a mortgage that the applicant would not otherwise qualify in order to obtain property, or simply profit”. It is a crime with severe penalties yet continues to be one of the fastest growing crimes in the US.

Read More

Topics: MBA, Mortgage, lending solutions, Mortgage compliance, mortgage fraud, tax return verifications, TRV, BankerVMS

H.A.R.P. Has Been Extended!

Posted by datafactssolutions

Jan 23, 2014 8:56:00 AM

The H.A.R.P. (Home Affordable Refinance Program) program which enables struggling homeowners to refinance their mortgage, whose home value has declined, has extended its application deadline to December 31st 2015.

Read More

Topics: Data Facts, Mortgage loan, MBA, Mortgage, lending solutions, finances, HARP 2.0, FHA, mortgage news

DATA FACTS, Inc. to Attend the MBA's 100th Annual Convention and Expo

Posted by datafactssolutions

Aug 5, 2013 2:06:00 PM

Data Facts will be introducing a full suite of products that will help streamline the lending process and keep Lenders in compliance. In today's financial climate, it is becoming more evident by utilizing bundled services from a single provider Lenders will be able to serve clients more effectively, profitably and will emerge as industry leaders.

Read More

Topics: Data Facts blog, Identity theft 2012, Identity theft, FCRA, wordpress blog, Data Facts, Mortgage loan, MBA, Mortgage, Credit Score, Mortgage compliance, mortgage fraud, AVM's, Improve Credit Score, credit cards, credit history, Automated Valuation Model, Compliance, MBA's 100th Annual Convention and Expo, mortgage news

Download the Ultimate Guide to Understanding Credit Scoring

Subscribe to Email Updates

Follow Us:

Recent Posts

Posts by Topic

see all
Go to Top