Fraud
Fraud
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An incident at American Financial Resources compromised the information of 216,645 borrowers, the company acknowledged.
April 20 -
But current economic and geopolitical tensions and the shift to a purchase market means lenders should remain vigilant, Ace Quality Management warned.
April 14 -
Lakeview Loan Servicing is facing eight class action lawsuits from borrowers who claim the company was negligent in protecting their information, including Social Security numbers.
April 12 -
The property owner obtained bogus loans on a portfolio spanning 2,500 apartments across more than 70 multifamily properties, prosecutors said.
April 5 -
The scheme highlights a risk that could grow as distressed borrowers exit forbearance.
March 31 -
The year-over-year increase in reports was the largest in several years for both lending/finance companies and government-sponsored enterprises, according to the Treasury Department’s Financial Crimes Enforcement Network.
March 29 -
Dollar losses from business email compromise attacks, many of which target real estate transactions, grew to $2.4 billion last year from $1.8 billion in 2020, a Federal Bureau of Investigations report found.
March 23 -
A California man and his unnamed co-conspirator netted a total of at least $5 million from thousands of homeowners, federal prosecutors said.
March 9 -
The fugitive and five others, including a Realtor, were indicted this month on 25 counts for lying to obtain lines of credit and properties for themselves and clients.
February 25 -
Industry leaders identified mobile device usage and consumer-granted third-party access to data as emerging risks.
February 23 -
A rise in reverse occupancy fraud is contributing to the uptick, a CoreLogic report found.
February 16 -
Danny Yen, owner of Real Estate Educational Services, received a permanent ban on conducting future related training and agreed to testify in any legal proceedings against originators he assisted.
February 11 -
The defendants and an attorney convinced homeowners to hand over their properties while the pair filed bogus claims to keep creditors’ foreclosures at bay.
January 31 -
The borrower sent bogus documents to a settlement company claiming a $111K lien was satisfied to complete a sale.
January 28 -
Eleven other defendants participated in the elaborate scam, which led to approval of unqualified buyers and numerous defaults of FHA-backed mortgages.
January 24 -
The settlement is a reminder that officials who oversee the loan officer licensing system do actively police the fulfillment of professional requirements by loan officers.
January 18 -
The crime highlights the importance of ensuring the integrity of documentation used by lenders to verify loan information at a time when defect risk is rising.
December 17 -
Error findings related to income and employment reached a high point since Aces Quality Management started its report in 2016.
December 14 -
The federal sentencing of the onetime president of the Mortgage Bankers Association, Ron McCord, follows a guilty plea and admissions related to improprieties in warehouse lending and servicing arrangements.
December 1 -
Application for loans to buy a home are a quarter more likely to contain misrepresentations than other loans in the market, CoreLogic said.
October 27
















