The agency clarifies documentation that taxpayers will need in an effort to curtail widespread fraud in the program.
via latimes.com.
Jan 29
WASHINGTON – U.S. Department of Housing and Urban Development (HUD) Inspector General Kenneth M. Donohue and Federal Housing Administration (FHA) Commissioner David H. Stevens announced today an initiative focusing on mortgage companies with significant claim rates against the Federal Housing Administration mortgage insurance program.
Jan 23
Just as regulators, lawmakers and all forms of financial oversight boards are talking about new regulations to guard against mortgage fraud and another mortgage meltdown, there appears to be yet a new mortgage fraud out there today, allegedly perpetuated by agents of, yes, the big banks.
via CNBC.
Jan 13
The number of house flipping “gurus” out there is at a high point, matching the peak in troubled mortgages.
via Suite 101
Nov 29
- 7 indicted in N. California, accused in 100+ property mortgage fraud
- Three plead guilty in Colorado based $16 million builder bail-out fraud
- Two sentenced in DC area flipping/straw buyer scheme
- Maryland man sentenced in another DC area flipping scheme
Nov 28
Fred Glick: It’s amazing how real estate agents still think that you can just tell their buyers to tell the mortgage guy that they are going to live in the property when they are not.
via Agent Genius.
Nov 24
Federal investigators have identified an increase in frauds and schemes in the real estate business. These schemes victimize individuals and businesses, including low-income families lured into home loans they cannot afford, legitimate lenders saddled with over-inflated mortgages and honest real estate investors fleeced out of their investment dollars.
Nov 03
According to industry professionals, there are three principal or familiar types of real estate fraud: 1. Identity theft via mortgage request2. Bait and switch3. Loan flipping
via RISMedia.
