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Mortgage Fraud Daily News Update ⋅ October 29, 2021
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Report reveals significant increase in mortgage fraud risk
Mortgage Professional America
At the end of Q2 2021, about one in 120 mortgage applications (approximately 0.83% of all applications) contained fraud – similar to pre-pandemic …
CoreLogic Reports A 37.2% National Year-Over-Year Increase In … – PROGRESS in Lending – PROGRESS in Lending
The risk of mortgage fraud increases significantly in the second quarter – 6Park News – 6Park News
CoreLogic: Fraud risk increased in Q2 – NEXT Mortgage News – NEXT Mortgage News
Full Coverage
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If You Get This Message About Your Mortgage, Contact Authorities, FBI Says – Best Life
Best Life
According to Rocket Mortgage, there are multiple forms of reverse mortgage fraud. These scams often come in the form of people promising to get your …
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“It forced me to have a long, hard look in the mirror” | Mortgage Professional America
Mortgage Professional America
How devastating health news prompted mortgage president to re-evaluate.
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New York City Man Sentenced to 48 Months for Bank Fraud and Aggravated Identity Theft
Department of Justice
Jason Safford Applied for Mortgage Loans with Falsified Appraisals and Bank Statements. SYRACUSE, NEW YORK – Jason Safford, age 46, of Queens, …
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Hong Kong housewife swindles finance firms out of US$4 million by using forged documents …
South China Morning Post
Mary Wong, 44, took out 14 mortgages on four properties owned by her … On Thursday, Wong pleaded guilty to seven counts of fraud, while four …
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Claros Mortgage Trust files for IPO
Mortgage Professional America
Claros Mortgage Trust (CMTG), an investment trust originating commercial real … Report reveals significant increase in mortgage fraud risk …
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DOJ Deputy Vows Corporate Crime Crackdown on More People (2) – Bloomberg Law
Bloomberg Law
… or the prolific mortgage fraud of the 2000s, or cryptocurrency schemes today.” (Updates with comments from interview in ninth paragraph).
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Economic Institution/Mortgage Fraud. The FBI is actually dedicated to aggressively pursuing …
Adotas
Mortgage scam is a sub-category of FIF. It’s crime characterized by some form of product misstatement, misrepresentation, or omission pertaining to …
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Is it all a Dreamvar or a nightmare? – Lexology
Lexology
Mortgage fraud relating to fraudulent property transactions can be a horror story that gives clients, lawyers and lenders sleepless nights.
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Mr. Cooper is on the hunt to buy more mortgage servicing portfolios
National Mortgage News
Mr. Cooper is on the hunt to buy more mortgage servicing portfolios … Mortgage fraud risk spikes amid rise in purchase loan share.
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Lenders need the right technology to manage expectations – HousingWire
HousingWire
While the mortgage lending industry of the 1980s does not bear a lot of … Recent cases have seen instances of advance fees, wire fraud, …
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Mortgage rates rise to highest levels in over 6 months
National Mortgage News
Mortgage rates headed upward for the third straight week, with both 30- and … Mortgage fraud risk spikes amid rise in purchase loan share.
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DOJ Deputy Vows Corporate Crime Crackdown on More People – Bloomberg.com
Bloomberg.com
… the various fraud schemes created by the so-called ‘smartest guys in the room’ at Enron, or the prolific mortgage fraud of the 2000s, …
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Mortgages In Your Golden Years | NBC4 WCMH-TV
NBC4
City leaders call Issue 7 a scam · Factors behind $3.8 billion fraud and overpayment … · Free fan photos with CFP trophy in Columbus · WATCH: Issue 7 …
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SEC: Akazoo to pay $38.8M in fraud case concerning SPAC merger | Article | Compliance Week
Compliance Week
Akazoo, a music streaming subscription company based in Greece, reached a $38.8 million settlement with the SEC for allegedly defrauding investors …
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Zombie Foreclosures Decline in Q4 – DSNews
DS News
Eric C. Peck has 20-plus years’ experience covering the mortgage industry, he most recently … Mortgage Fraud Risk Rises Significantly in Q2.
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Ex-Wells Fargo Adviser Arrested in New Jersey on Client-Fraud Charges – BNN Bloomberg
BNN
(Bloomberg) — A former Wells Fargo & Co. investment adviser stole nearly $3 million from clients and used the money for personal expenses and to …
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Rising Rate Concerns, Supply Chain Fears Drive New Home Sales – World Property Journal
World Property Journal
… the U.S. Census Bureau, low existing inventory and buyers’ fears of future higher mortgage rates, new home sales posted a solid gain last month.
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Flagstar Bank Names New EVP, Servicing Head – DSNews
DS News
Other industry experience includes serving as director and head of asset management for the residential mortgage-backed securities group at …
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Five Women Appointed To Court Vacancies After Calls For More Diversity | Honolulu, HI Patch
Patch
Let’s go! Gov. David Ige filled five judicial vacancies in three circuit courts, which hear felony criminal cases and high-level civil suits.
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Mortgage rates persist in their ascent, hitting six-month highs – The Washington Post
The Washington Post
Mortgage rates continued to climb this week, reaching highs not seen since April. … The ongoing danger of false fraud claims.
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Lloyds posts £2bn profit in Q3 amid mortgage boom
Mortgage Finance Gazette
A surge in mortgage borrowing helped Lloyds Banking Group return a statutory pre-tax profit of £2bn in the third quarter of the year.
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Six-year-old tax fraud case ends with jail time, $7 million in fines | Montreal Gazette
Montreal Gazette
Six years after charges were first filed, a fraud case involving … Prices in Canada will remain high because of rising mortgage rates and supply …
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US average mortgage rates rise; 30-year sat 3.14% – The San Diego Union-Tribune
The San Diego Union-Tribune
Average long-term mortgage rate rose this week as inflation pressures, … Dutch watchdog slams tax office fraud list as privacy breach.
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New American Funding Partners With CBC Mortgage Agency To Expand Down Payment …
National Mortgage Professional
New American Funding, the direct mortgage lender, will be forming a strategic … October 2021 Cover of NMP Magazine, titled Fraud Fires Up.
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Investigation Alert: Kessler Topaz Meltzer & Check, LLP is Investigating Securities Fraud …
Benzinga
RADNOR, Pa., Oct. 28, 2021 (GLOBE NEWSWIRE) — The law firm of Kessler Topaz Meltzer & Check, LLP is currently investigating potential violations …
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Residential Sector to Command Larger Slice of Global Property Investment – WORLD …
World Property Journal
U.S. Mortgage Fraud on the Rise in Q2 … Mortgage Loans in Forbearance Dips to 2.2 Percent … U.S. Mortgage Applications Dip in Mid-October …
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MFG award entries close today – Mortgage Finance Gazette
Mortgage Finance Gazette
Best Anti-Fraud Service Best Debt and Arrears Management Strategy Best Law Firm Best Conveyancing Firm Best Surveying Firm Best Loan Servicer
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INNV Investors Have Opportunity to Lead InnovAge Holding Corp. Securities Fraud Lawsuit …
Benzinga
BENSALEM, Pa., Oct. 28, 2021 /PRNewswire/ — Law Offices of Howard G. Smith announces that investors with substantial losses have opportunity to …
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Investigation Alert: Kessler Topaz Meltzer & Check, LLP is Investigating Securities Fraud …
Benzinga
… LLP is Investigating Securities Fraud Claims on Behalf of Honeywell … consumers and whistleblowers (private citizens who report fraudulent …
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US average mortgage rates rise; 30-year sat 3.14% | Business | ktbs.com
KTBS
WASHINGTON (AP) — Average long-term mortgage rate rose this week as inflation pressures, the coronavirus pandemic and some supply shortages …
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Mortgage payments set to rise by £500 in biggest hike since 2008 – Daily Express
Daily Express
HOMEOWNERS face a ‘ticking mortgage timebomb’ with payments set to rise by up to £510 a year … Martin Lewis explains how to spot a scam online.
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Dutch watchdog slams tax office fraud list as privacy breach – Times Union
Times Union
THE HAGUE, Netherlands (AP) — A Dutch data protection watchdog issued a damning report…
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Permanent TSB shares soar even before exit of mortgage rivals Ulster Bank and KBC
Irish Examiner
In an update, Permanent TSB said new mortgage lending had risen sharply to help it secure a greater share of the mortgage market.
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NAI Legacy Acquires Five Properties from Stablewood Properties for $20.5M – WORLD …
World Property Journal
NAI Legacy Acquires Five Properties from Stablewood Properties for $20.5M · U.S. Mortgage Fraud on the Rise in Q2 …
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6 in 10 lenders want new data sources: Experian – Mortgage Business
Mortgage Business
“Sophisticated credit risk models using new technology can ultimately help improve customer management, reduce credit losses and minimise fraud.”.
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Victorian solicitor removed from roll following ‘theft, fraud and forgery’ – Lawyers Weekly
Lawyers Weekly
A solicitor who admitted to theft, fraud, forgery and misappropriation of trust funds following a history of creating false emails, calls, …
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Ohio Audit Report Discovers $ 3.8 Billion Unemployment Scam, Overpayment – Ohio News Time
Ohio News Time
Prior to 2020, fraud and overpayments accounted for approximately 3.5% of total payments. Over $ 3.8 billion was fraudulent. Identified as overpayment …
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Mobile Ordering Fad Poses Payments Fraud Threat – The Financial Brand
The Financial Brand
Some quick-service restaurants that lack experience with fraud … for the housing and mortgage industry, the market is poised for a major shift.
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Nationwide warning as dangerous impersonation scams soar – Daily Express
Daily Express
Ed Fisher, Head of Fraud at Nationwide Building Society, commented on … Rishi Sunak faces ‘moment of truth’ to issue mortgage support [ANALYSIS]
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CIBC Innovation Banking, Ten Coves Capital and Mosaik Partners Provide Point Predictive …
Valdosta Daily Times
… mortgage, and other consumer lenders reduce manual document verification and consumer friction by quickly and accurately identifying fraud and …
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Frenzied property market leaves homebuyers’ deposits at risk of scams – The Telegraph
The Telegraph
Image of ‘Can my £15,000 make me a millionaire by the time I hit. Barclays, HSBC, NatWest and TSB raise mortgage rates just hours after the Budget.
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Britain’s Lloyds upgrades outlook as profit beats forecasts – Yahoo Money
Yahoo Money
Britain’s biggest mortgage lender posted pretax profit of 2 billion … compensation for victims of historic fraud at its HBOS Reading branch.
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Prepare Now for Libor Cut-Off, Regulators Warn – Banking Exchange
Banking Exchange
… Insider Fraud: Work From Home Changes Data Leakage Prevention Paradigm … BSA/AML · Mortgage Compliance · Fair Lending · UDAAP · CFPB …
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Ajetunmobi couple granted citizenship after ‘intense examination’ – Antigua and Barbuda …
The Guardian Nigeria
Antiguan authorities have confirmed that the Nigerian couples who are wanted for a multibillion Naira investment scam are citizens of the country.
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M&T Bank launches $43bn Community Growth Plan to support underserved communities
Banking Exchange
… Insider Fraud: Work From Home Changes Data Leakage Prevention Paradigm · Banking Transformation Starts with Process Intelligence.
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OBR warns mortgage costs to rise 13 per cent by 2023
Mortgage Solutions
Expectations for rising mortgage interest costs predicted by the Office for Budget Responsibility (OBR) were buried in the Budget documents. They show …
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Martin Lewis warns kids are at risk of fraud and debt because of the curriculum – The Mirror
The Mirror
Children at the school were taught about how to spot a financial scam … Martin Lewis issues mortgage warning as millions could see payments jump …
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Impersonation scam cases soar – are you at risk? – Your Money
YourMoney.com
A lack of awareness is leading to more people being victims of ‘impersonation scams‘, with younger people more likely to be affected.
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Top 5 questions you should ask your mortgage partner – Business Daily
Business Daily
The Absa mortgage loan comes with a reduced interest rate of 11.9 per cent per annum. It only gets better because the loan repayment period has been …
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Relator Cannot Pursue VA Mortgage Fraud Claims Without Evidence of Loan Default – PubKLaw
PubKLaw
The district court granted motions to dismiss filed by some defendants in a qui tam case alleging fraud on VA mortgage programs. The relator alleged …
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WAYNE GOSS FRAUD – GRANFERIADECAPACITACION.COM
GRANFERIADECAPACITACION.COM
30+ “Wayne Goss” profiles Having been convicted for mortgage-lending fraud, Toby Wayne Goss contests only the loss calculation used in determining …
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CoreLogic’s Annual Mortgage Fraud Report for 2021 : r/REBubble – Reddit
Reddit
4K subscribers in the REBubble community. A place to freely discuss and investigate the current US housing bubble.
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Lessons from an $8 million fraud Lapping Scheme
aundf-handmade.de
In fraudulent disbursement schemes, Concealed. . organization may determine … in concealed side Fraudulent Financial Reporting Schemes checks, …
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