Today, we are honored to share with you this recommendation letter sent to us by a client. Stories like this one prove that our services can change lives for the better, and heal futures that seem broken beyond repair. We are grateful for your words, Robin, and we will continue to work day and night to […]
Over the last year I have noticed a disturbing trend with small to midsize Mortgage Brokers. Now, before I get started, I am sure there are a significant number of Mortgage Brokers doing everything possible to comply with the vast number of rules and regulations that exist both on a state and federal level. Unfortunately, […]
The following is based on a true story and, for a blog, may be a little long, but mortgage professionals need to be aware of what some prosecutors are doing with respect to the past subprime industry and prosecuting stated income/stated asset loans that have gone into foreclosure. The actual names of both the lenders […]
With the year 2014 upon us there are over 2000 pages of new mortgage rules that will continue to change the industry as the Consumer Financial Protection Bureau makes its presence felt. For many Mortgage Brokers critical decisions will have to be made as to education, cost of compliance and the ongoing business model. There […]
A mortgage fraud and compliance expert can be a very valuable asset. Mortgage Brokers work with fraud and compliance experts to make sure they are in compliance with all current rules and regulations. Lawyers and regulators frequently consult with these experts in mortgage fraud cases to not only illuminate the facts, but also to explain what these […]
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 […]
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 […]
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 […]
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 […]
Mortgage brokers and loan officers are at great risk of prosecution due to originated stated income loan products. Even if they originated a prime stated loan there is a risk that they may face jail time or a large fine, frequently even both. Necessary precautions have to be taken to ensure that you are protected in case you are questioned […]