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Tag: mortgage-fraud
One more story for the Bellevue mortgage fraud files
The Seattle Times is reporting tonight that a federal indictment has been issued for a Bellevue loan officer and his assistant.
A former loan officer at a Bellevue mortgage company and his assistant have been indicted on a charge of conspiracy to commit wire fraud in a scheme that prosecutors say involved using straw buyers to [...]
Posted: July 11th, 2008 under Seller Information, mortgage-fraud.
Tags: Bellevue, mortgage-fraud
Comments: 16
Recent Mortgage Fraud Developments and Future Outlook
Before we use to rely on automated underwriting systems and credit scores we had humans who would carefully underwrite mortgage loan files. During the caveman human underwriter days, loan originators and loan processors knew that underwriters could make or break a file. An underwriter had god-like power to grant or deny the American dream. They [...]
Posted: December 23rd, 2007 under General Real Estate.
Tags: fitch-ratings, mortgage-fraud, mortgage-loan-underwriting, residential-mortgage-backed-securities, RMBS, subprime-meltdown
Comments: 44
Mortgage Fraud
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 [...]
Posted: October 26th, 2007 under General Real Estate.
Tags: commission-fraud, consumer-fraud, equity-skimming, foreclosure-rescue-scemes, fraud-for-profit, identity-theft, illegal-property-flipping, inflated-appraisals, mortgage-fraud, silent-second, straw-borrower
Comments: 80
Friday’s Rates ala Ben and Bush
It continues to be very interesting preparing Friday Rate Quotes. Programs and products availability continue to change due to either lenders suspending certain products or pricing them out of the market. In addition, some lenders who brokers have had relationships with are playing “dirty” (for example, trying to stall loans so they expire instead of funding or [...]
Posted: August 31st, 2007 under Buyer Information, General Real Estate, Mortgage and Lending.
Tags: ARM, conventional, fixed, interest-only, mortgage-fraud, mortgage-rates
Comments: none
