Data Facts Lending Solutions Blog

Mortgage Fraud: Red Flags to Watch Out For

Posted by Matt Holmes

May 3, 2021 9:02:00 AM

Every borrower has their own story, and much of it can be told through their loan file. If you discover inconsistencies at any point of the application process, these could be tip-offs for fraudulent activity, also known as red flags. By keeping an eye out for these inconsistencies, you can identify fraudulent loan misrepresentations. Here are just a few examples of high-level red flags that may indicate fraud within the loan file:

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Topics: mortgage fraud, Mortgage Lending, Fraud

3 Scary Mortgage Fraud Headlines

Posted by Matt Holmes

Oct 19, 2020 9:02:00 AM

It’s a spooky time of year, but all tricks and treats aside, there has been some really unsettling news involving mortgage fraud schemes in recent months. Check out these haunting headlines:

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Topics: mortgage fraud, Mortgage Lending, Fraud

5 Facts You Should Know About Mortgage Fraud

Posted by Matt Holmes

Mar 16, 2020 9:02:00 AM

It’s unclear the implications that COVID-19 will have on the housing market, but it appears the demand for mortgages isn’t going anywhere any time soon. When the market is competitive, buyers want to jump in, and as a result many will break the rules. Mortgage fraud is an ongoing problem that can cause you financial harm, so you should be taking the necessary precautions to avoid it. Here’s 5 quick facts you should know about mortgage fraud.

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Topics: mortgage fraud, Fraud

Why Lenders Need to be Concerned About Wire Transfer Fraud

Posted by Susan McCullah

Feb 14, 2018 9:13:00 AM

Wire transfer fraud is one of the most serious trends in the mortgage industry. Recent Fannie Mae and FBI fraud alerts on wire transfer fraud identify more than 14,000 instances of this fraud scheme over the last year. Under this fraud scheme “hackers” use social engineering or computer intrusion techniques to send out a change of wire transfer instructions with the “new” account information.

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Topics: Mortgage compliance, Fraud, compliance tips for lenders, mortgage lending services

Data Facts Helps You Detect & Reduce Mortgage Fraud

Posted by Jennifer Hamby

Apr 17, 2015 7:45:00 AM

More sophisticated fraud schemes and new regulations mean your mortgage lending services need to include fraud and verification tools optimized for today’s lending environment. Now, more than ever, you need to know whether the information behind loan documentation is authentic.

Since mortgage lending has changed over the last few years and more changes are coming in the years ahead, it’s imperative that your information provider has the ability to keep up with the evolution in the market.

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Topics: mortgage fraud, Fraud, mortgage lending services

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