CFPB Audit Issues

Posted on Posted in Common mistakes, Mortgage Broker Compliance, Mortgage Fraud Expert Witness

The Consumer Financial Protection Bureau (CFPB) has now launched itself into the world of mortgage brokers, both pure brokers and correspondents. Three distinct problems are surfacing that are somewhat surprising given the compliance environment in which the industry operates. It is evident what the CFPB is encountering is consistent with what state regulators are also […]

Roll The Dice

Posted on Posted in Common mistakes, Mortgage Broker Compliance

It amazes me how many mortgage brokers continue to operate without an implemented quality control program, choosing instead to roll the dice and hope for the best. This business philosophy is proving to be very costly with significant regulatory fines and loss of operational licenses happening literally every day. Current industry projections forecast a 35% […]

3 Customers We Help When It Comes To Mortgage Fraud

Posted on Posted in Mortgage Broker Compliance, Mortgage Fraud Expert Witness

Mortgage fraud occurs whenever a borrower, Mortgage Broker, Loan Officer  or other involved party misrepresent any of the facts with respect to the application process. The point of misrepresenting information is to allow the borrower to illegally  qualify  for a home loan or, if a Mortgage Broke/Loan Officer,  to earn a commission using fraudulent information. In many cases all parties to […]

4 Clients We Can Help

Posted on Posted in Mortgage Broker Compliance, Mortgage Fraud Expert Witness, New Guidelines, Tips and Tricks

Mortgage borrowing is a complex procedure and the process is susceptible to mortgage fraud for a variety of reasons. Mortgage fraud can significantly damage all those involved in the process including the lenders, borrowers, mortgage brokers, loan officers, appraisers, credit repositories and attorneys. Regulators are swamped with investigations of mortgage fraud dating back as much […]

What is a Stated Loan and How Is Fraud Dangerous

Posted on Leave a commentPosted in Mortgage Broker Compliance, Mortgage Fraud Expert Witness

If you have ever originated a stated loan as a loan officer or a mortgage broker, you stand at a huge personal and professional risk. Even if you are innocent and the mortgage fraud was not your intent you run the risk of prosecution and significant prison time. Moreover, you may have to pay millions of dollars in fines and restitution. These consequences can […]

Why an Expert Witness Will Help Your Mortgage Fraud Case

Posted on Posted in Mortgage Broker Compliance, Mortgage Fraud Expert Witness

Mortgage fraud has become more common since the real estate bubble despite a mountain of new regulations. In a mortgage fraud case lawyers alone  frequently do not have all the necessary knowledge and information with respect to the mortgage industry. They need support to deal with the complex mortgage market and their best option is to hire […]