LookAheadThe next webinar meeting of the MBA Mortgage Fraud Issues Subcommittee will be held on July 30, 2014. Please Contact Andrew Szalay for more information.
MBA Fights Mortgage FraudMortgage fraud is 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. The cost to lenders and the financial system are estimated to be billions of dollars annually, but the real impact is felt by homeowners and consumers seeking mortgage credit - underwriting standards are tightened to guard against risk, neighborhood homes may be devalued, and properties may be left vacant, detracting from the community's appeal and value. The Mortgage Bankers Association works with law enforcement agencies, banking and mortgage regulators, and other industry actors to detect, prevent and report mortgage fraud so those that people who perpetrate these crimes may be caught and prosecuted.
Law Enforcement and Regulators• FBI Mortgage Fraud Warning Notice• Department of Justice• FDIC Office of Inspector General• Federal Bureau of Investigation• FHFA Office of Inspector General• Financial Fraud Enforcement Task Force• FinCEN• HUD Office of Inspector General • OCC• SIGTARP
GSEs• Fannie Mae• Freddie MacIndustry Reports• CoreLogic• Interthinx
Financial Fraud Enforcement Task ForcePreventing Loan Modification Fraud
Common Mortgage Fraud News Sources*
• Mortgage Fraud Blog
*These sources are not affiliated with or endorsed in any way by MBA.