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

Beware of Fake Employers in the Loan File

Posted by Matt Holmes

Feb 8, 2021 9:02:00 AM

Ability to repay, or capacity, is one of the main factors of creditworthiness- These are known as the 5 C’s: capacity, collateral, conditions, capital and character. Employment is an important component of capacity, and all too often we see consumers falsifying this crucial data validation point. Thus, as a lender, you need to keep a watchful eye to make sure your applicant’s employer is legitimate.

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Topics: mortgage fraud, Mortgage Lending

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

Tax Identity Theft- How it Happens, and How to Prevent It

Posted by Matt Holmes

Jan 20, 2020 9:02:00 AM

“Identity theft is not a joke, Jim!” This was Dwight’s reaction as Jim arrived at work donning his trademark glasses and dress shirt on NBC’s The Office. To the mortgage lending community, Identity theft is, in fact, not a joke. And the realities of it can be a quite a bit more sinister than a prank played between two coworkers. So it’s no surprise the Federal Trade Commission has declared next Monday as the beginning of Tax Identity Theft Awareness Week.

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Topics: mortgage fraud, tax return verifications

Important Numbers Mortgage Lenders Should Know About Mortgage Fraud

Posted by Susan McCullah

May 31, 2018 10:54:44 AM

Here is some important information Fannie Mae shared recently about mortgage fraud. These statistics are based on results of 2016 and 2017 mortgage fraud numbers.

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Topics: mortgage fraud, fannie mae, mortgage lending services

Watch Out! The 6 Most Common Mortgage Fraud Red Flags

Posted by Jennifer Hamby

Aug 7, 2015 11:55:10 AM

We know mortgage fraud comes in various shapes and forms. Catching it early is key if mortgage lenders want to protect their organizations from costly expenses associated with the crime. 

There are several mortgage lending services that address mortgage fraud, and being proactive and savvy to the common ways consumers try to "pull off" mortgage fraud is necessary. 

Watch out for these key indicators of potential mortgage fraud. 

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Topics: lending solutions, Mortgage compliance, mortgage fraud, Mortgage Lending, mortgage lending services


Posted by Johnna Leeds

Jul 15, 2015 10:05:00 AM

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.

Why should you bundle services? First of all, one vendor equals fewer headaches. It standardizes operations and saves time. You don’t have to call, email and wait for responses from multiple vendors. Secondly, it builds a stronger relationship. This makes for a more positive overall experience. Lastly, it helps you to stay in compliance. Compliance is ALWAYS a top priority. Bundling services minimizes the risk of being out of compliance by having all your paperwork from ONE source. Your chosen vendor should be constantly providing compliance information for your records.

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

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

Prevent Mortgage Fraud with Soc. Sec. Verifications

Posted by Jennifer Hamby

Mar 19, 2015 10:20:49 AM

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Topics: mortgage fraud

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