Fraud Prevention and Best Practices

Be aware of these types of scams and schemes.

Sad to say, fraudsters are creative and energetic. So if you’re in the mortgage industry, you need to stay on top of what they’re up to – and what they’re planning next.

True Lies: The Lies Caught Up With Her

Liars will go to great lengths to deny wrongdoing. So what do you do when someone vehemently claims innocence, yet your suspicions remain?

True Lies: When They’re Not Who They Say They Are

What if the person applying for a loan isn’t who they say they are? Here’s a new twist on misrepresentation we recently investigated.

True Lies: Allies in the Fraud Fight

Our QC and SFFR teams work together closely to identify fraud and reduce the risk it poses. Here, we look at one real-world example.

Fraudcast Episode 2: Investigating Suspicious IRS Transcripts

Even with trusted sources like tax returns, what you see isn’t always what you get.

True Lies: A Child Support Ruse

In two recent cases, we found fraud in an unsuspected place – child support documentation used as borrower income.

True Lies: When Employers Twist the Truth

Two borrowers. One employer. Different paystubs. And that was just one example of income misrep we investigated.

Fraudcast: Episode 1 – Investigating Income Misrepresentation

We share stories from the field as our investigators fight income misrepresentation.

True Lies: Forged CPA Letters in 10 Loans

A loan officer falsified CPA letters, casting doubt on the veracity of other information contained in the associated loan files.

Fraud Watch: Recognize Phone Spoofing

Imposters posing as Freddie Mac representatives are offering consumers a low interest rate loan and other false promises.

True Lies: No One Benefits from Falsified Benefits

Benefits letters from federal government agencies and employers are often used to qualify a borrower’s eligibility for a home loan.

True Lies: Reigning in Reverse Occupancy

Our investigator discovered that loan officers at a mortgage brokerage were falsifying occupancy, income and insurance information.

True Lies: Suspiciously Similar Paystubs

A processor fabricated paystubs, with matching font and format for multiple borrowers, as well as identical handwriting on borrowers’ VOE.

True Lies: Beware Phantom Employers

A broker facilitated the origination of numerous loan packages with fabricated companies borrowers claimed as their employers.

True Lies: Falsified College Transcripts

Two mortgages originated by the same loan officer had almost identical borrower profiles, and both borrowers claimed to be recent college graduates.

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