Wednesday, December 5, 2007

Identifying Mortgage Fraud

Mortgage loans are originated and evaluated by humans. And where there are humans, there are opportunities for error and for the proverbial bad apple that spoils the whole bunch. As a mortgage professional, there are some things that are clearly identifiable as "not acceptable," but because credit risk layering has a subjective quality to it, there are gray areas. Sometimes you can run a scenario across the most knowledgeable and ethical person you've ever known and he/she will shrug and say, "Well -- you want to be careful, because if it's THIS, specifically, it's ok, but if it varies from that by a millimeter, then you might go to prison."

Of course there are incidents in which you know that someone knew he/she was doing wrong. A few months ago I read a story about a guy who was signing his closing loan documents at the title company, and when he came to the form stating that he makes a certain amount of income per month, he refused to sign it. “ I don't make that much money, and I never told anybody I do,” he said.

Good for him (and very wise), because when his lender got in trouble for fraud, it was clear that he’d been innocent in the process.

Here’s a good article highlighting various common forms of mortgage fraud, and here’s a great blog that keeps up with the latest in mortgage fraud news. Don't end up an unwitting participant in a fraudulent transaction.

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5 comments:

Ryan C. Jennings "RYSAN said...

Real Estate Fraud times 10-2

1972 vs. 1976 how heavy is your crucifix.

Category: News


What size font is needed to illustrate that my rights have been violated to extreme proportions. My civil liberties got thrown down the drain when my pleas for help seemed to be too big for local authorities to either assist on, or is it something else?
I have been held-hostage, beatin, violated by ID Theft, mortgage fraud, and had local authorities (city of Independence Police Department) do little to nothing to assist me in being victimized.
My cases may have one link back to a rather larger case. However, the FBI states they have already submitted that case to the federal courts system of Jackson County, Missouri. The paid off elite hood of our corrupt judicial officials has been detrimental to me successfully living in a peaceful society and local community. My signature has been forged. I have arrested on ID THEFT situations. Had my home(s) illegally flipped behind my back. And I don't know where to turn.
My life seems to be a rather bull-sh_t landslide of a conspiracy to obstruct justice from those around me. I have been very straight forward with questions regarding my cases. It is amazing to me how my honesty in boiling down the cone of uncertainty has guilty parties squirming even harder to cover up crimes they have committed. I thought me being open about variables of evidence that I have discovered would be respectable to not only the guilty, but would also allow the federal government to appropriately and effectively follow the blood trail to the culprit of their actions. However, it is obvious that under the George W. Bush administration these cover-up actions are only a normal part of political marketing and are backed up by all presidential power and authority.
I pray for judgment to come quick and precise on my cases. However, it is more than obvious that I will have to wait until the democratic party takes control of the white house for this restitution to become a reality.
My latest obscure charge comes from me being victimized by one of these online foreign check fraud scams. I received a United States Postal Money order for X amount of dollars. They were the exact same money orders that the New York Times has a front page article discussing. In this case, I was victimized, yet somehow the Independence Police Department charged me with a Class C felony of forgery of which carries a 1-7 year jail sentence. To me this is completely uncalled for.
While I was incarcerated on this charge I had a real estate professional (Lynn Tuala) roll-up a dumpster and steal a large amount of my business property and personal assets. I was in a foreclosure proceeding with Deutsche Loan and Savings, but at the time I had several alternatives that were within my Constitutional Rights on how to proceed in the foreclosure case. I have researched many of these AMC Ameriquest Mortgage fraud scams that are nation wide. However, my situation seems to have a higher degree of a conspiracy to obstruct justice.
Please write me at drag.it.on@hotmail.com if you have any advise, similar situations ore recommendations for my proceedings.
Thanks,
Ryan C. Jennings

Internet marketing said...

I wrote a couple articles about the same subject but you seem to know a bit more about it than I do.

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