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Mortgage Fraud

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The information and notices contained on Mortgage Fraud Blog are intended to summarize recent developments in mortgage fraud cases and mortgage banking matters nationwide. The posts on this site are presented as general research and information and are expressly not intended, and should not be regarded, as legal advice.

CoreLogic recently introduced an updated version of its mortgage Fraud Risk Score Model, to be released this summer. Delivered within the LoanSafe product suite, version 4.0 accounts for recent.

Mortgage fraud is a serious offense and can lead to prosecution and jail time for convicted offenders. Under U.S. federal and state laws, mortgage fraud can result in up to 30 years in federal prison, and up to $1 million in fines. The Growth of Mortgage Fraud. Mortgage fraud is a growing problem.

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On April 24, 2017, Houston-area building contractor Oscar Cantalicio Ortiz was scheduled to appear in a Houston federal courtroom to be sentenced following his June 2016 guilty plea in connection with.

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Emerging Trends in Mortgage Fraud. Understanding the types of mortgage fraud and recognizing if you’re in a hot spot is a good start, but you also have to be aware of the current schemes and their corresponding red flags to be successful in stopping it. Below are three common mortgage fraud schemes and one newly emerging scheme that is on the.

Mortgage fraud is fraud related to mortgages or equities. In a mortgage fraud, usually a borrower materially misrepresents or omits information on a mortgage loan application. The fraud can include application fraud, wire fraud, bank fraud, mail fraud, money laundering, appraisal fraud, escrow fraud, straw buyers and fraudulent documentation.

Criminal investigations focus on acts of embezzlement, and bribery committed by VA employees; fraud related to pharmaceutical firms’ illegal defective pricing or off-label marketing activities; Service disabled veteran owned small business (sdvosb) and other procurement fraud; fraud against VA committed by fiduciaries, contractors, VA employees, and beneficiaries and their survivors;.

Your Down Payment: Where Will It Come From? Mortgage Masters Group HomeReady mortgages have down payments as low as 3% and allow the use of gifts, grants, and certain other sources to help with your down payment. You’ll need to pay mortgage insurance for the lower down payment, but can usually cancel it once you have a certain amount of equity in your home (typically 20%).