Mortgage Fraud October 26, 2007
Fraud is generally defined as the “intentional misrepresentation of the truth in order to deceive another.” Chris Swecker, Assistant Director of the FBI’s Criminal Investigative Division, defines mortgage fraud as any form of material misstatement, misrepresentation or omission relied upon by an underwriter or lender to fund, purchase or insure a loan.
Before 9/11, mortgage fraud [...]
Your Private Information is For Sale January 24, 2007
This subject totally irks me…it is just so completely wrong. The three major credit bureaus are selling personal information to hundreds of mortgage companies throughout the country as soon as a credit report is pulled from a mortgage lender. You visit your preferred lender to get preapproved for a mortgage, and whammo…within hours [...]
The Earnest Money Check May 13, 2006
The times they are a changing.
Personally, I don’t see any reason why anyone except the closing agent, should view my buyer client’s personal check. A “qualified reperesentative” from the escrow company, picks up the check and gives me a receipt for it. When they deposit the check at escrow, I get a second receipt showing [...]
Been Some Time March 28, 2006
New Identity Theft Tactics
I received an e-mail from our credit resource company explaining a new tactic that people are using to steal your identity.
The scam has to do with Jury Duty. The article talks about people that are receiving calls from people that claim to be court officials or a jury coordinator and ask them [...]
