The various bank and wire fraud charges in a federal indictment include conspiracy to defraud Quicken Loans (now Rocket Mortgage) for $1.3 million.

Because there are currently no obligations on the sector to file suspicious activity reports — and no penalties associated with not reporting — there is no real incentive to report, writes the vice president of SmartSearch.

The builder was found guilty of stealing over $1 million from home buyers, lenders, businesses and a family member’s special needs trust between 2016 and 2020.

From 2016 to 2019, the Long Island man stole from Home Point Financial, LoanDepot and United Wholesale Mortgage, and faces 30 years in prison.

Protecting consumers from cyberthreats and monetary loss should be paramount for every lender and title company. Here's how to get there with minimal fuss.

Increased purchase lending and added pressure from Fannie Mae and Freddie Mac’s new loan limits should drive the likelihood of borrower misrepresentation.

The cloud IT provider for settlement services companies has no timeline on when services will be restored following its shutdown Friday.

The defendant faces seven criminal counts — ranging from stolen property to falsifying business records — for two Harlem brownstones he paid just $20 for in 2012, according to tax filings.

Errors created in the loan manufacturing process were partly responsible for the increase in 2020, according to an analysis by Aces Quality Management.

The scheme's victims included an elderly woman and a local title agency that lost $230,000 in the fraudulent property transfer.

Scams in which a real person’s information is used to create fictitious businesses or individuals have led to $6 billion in credit losses. The Federal Reserve has developed a standard definition for synthetic identity fraud so lenders can distinguish it from traditional identity theft.

The individuals allegedly defrauded Freddie Mac and CBRE Capital Markets by misrepresenting information used to refinance a small-balance loan.

Less than two years after shutting down its biggest business amid fraud allegations, the Michigan company has sold branches, settled a shareholder lawsuit and returned to profitability under turnaround specialist Thomas O’Brien.

The defendants face 133 felony counts that include allegedly stealing identities to commit mortgage fraud between 2014 and 2020, resulting in the theft of $15 million.

The complaint exemplifies the Department of Housing and Urban Development’s focus on “fair servicing” in addition to fair lending.

Fannie Mae and Freddie Mac’s new limits on loans secured by investor properties and second homes may put pressure on applicants to misrepresent their occupancy status.

New entrants in the market may believe: “We’re doing everything right. Fraud isn’t a problem, and we have a fraud alert tool in place anyway.” This, of course, is exactly when fraud risk grows, warns Paul Harris of First American Data & Analytics.

While many lenders have verification processes and systems of record in place for their structured data, they lack digital solutions capable of addressing the volume of customer data from documents that create a broad area of vulnerability for them, writes Reggie Twigg, director of digital enterprise at ABBYY.

The rush to refinance led to more errors in January and the shift to more-risky purchase apps will add to lenders' fraud concerns going forward.