With extreme winter weather about to give way to ballooning insurance and mortgage forbearance claims in Texas, servicers will need to get through their pipelines with urgency while weeding out fraud.

Come away better prepared for what’s ahead after hearing Satish Kini and David Sewell of Debevoise & Plimpton and Darin Jarrett, Deputy BSA/AML Officer at American Express, in conversation with Bonnie McGeer, Executive Editor of American Banker, as they explore: •How the new administration might change the BSA/AML Act •Are there easy wins in relieving the burden of suspicious activity reports without undermining effectiveness? •New ways that companies are innovating within AML compliance and risk •What banks are doing to drive next-gen efficiency and effectiveness of risk and compliance

The former executive at Lend America, who has remained out of prison since his 2011 guilty plea, will not be incarcerated for his acts.

The complaint unsealed Monday alleges three individuals and several companies they owned or controlled engaged in False Claims Act violations involving short sales of properties that had Federal Housing Administration-insured mortgages.

The accused, who also faces vehicle title and investment fraud charges, allegedly submitted falsified statements related to the payoff of an earlier mortgage when applying for a new one.

Economic instability during the quarter drove the increase in findings regarding income and employment, Aces Quality Management reported.

Tough competition for home listings makes consumers more likely to misrepresent themselves on loan applications.

The nine arraigned individuals face 136 counts of felony charges for allegedly running an advance fee mortgage relief scheme over the last decade, totaling $6 million.

The third quarter’s higher share of purchase applications, which followed the refinance wave that crested in the second, caused a rise in mortgage application fraud risk, according to CoreLogic.

More than six months after the CARES Act became law, the two entities joined a host of industry organizations in launching the COVID Help for Home campaign to educate borrowers on the next steps in forbearance.

A Boulder, Colo., man was sentenced to five years in prison after using information obtained through legitimate transactions to create and sell almost $32 million of fraudulent loan packages to a bank.

Getting ahead of the next wave of mortgage fraud calls for rock-solid systems with several protective tools deployed at once. But that only goes so far without the proper employee preparation.

The scheme targeted distressed homeowners in the Filipino community, most of whom were nonnative English speakers, forcing some of them into bankruptcy and homelessness, according to law enforcement officials.

Mortgage application fraud risk dropped drastically from 2019 with the spike in refinances, but the fallout from the coronavirus means next year could come with more risk, according to CoreLogic.

Mortgage companies contended with an average of 1,316 fraud attempts per month in 2020, up from 1,280 in the previous year, according to the latest study by LexisNexis Risk Solutions.

The expanded relief on tax income data will become accessible this fall, according to a press release LoanBeam issued this week during Freddie Mac's Connect client conference.

Twelve people were charged in a scheme regarding the creation of 100 fraudulent mortgages in Georgia, according to the HUD inspector general.

Taylor, Bean & Whitaker's former chairman and CEO, Lee Farkas, led a $2.9 billion mortgage fraud scheme during the housing crash but was released early from prison due to susceptibility of COVID-19 transmission.

Lenders and vendors are starting to realize that there are both areas in which artificial intelligence can be used more broadly, and areas in which technology’s role should be limited.

The refinance boom kept mortgage loan application defect risk flat, with record-low levels in July, but fraud risk for purchases climbed again, according to First American Financial.