Former USDA Loan Officer Arrested for Loan Fraud
A former loan originator for the U.S. Department of Agriculture is accused by the Department of Justice of accepting bribes to commit loan fraud.
Risk Eases on Mortgage Apps, Though Up From 2016
Bad data on residential loan applications was a little less likely in September, though risk was worse by a fifth compared to last year. Risk jumped in hurricane-affected areas.
Big Credit Union Hit By HEL Fraud
A federally insured credit union that originated nearly $13 billion in home loans last year was defrauded by a real estate investor on home-equity loans.
Mortgage Fraud Risk Rises, Could Climb Higher
A growing share of purchase-money and wholesale lending has helped to push up the risk of mortgage fraud. Also contributing were jumbo refinances.
Risk of Mortgage Fraud Higher Than Year Earlier
While there was no month-over-month increase in the risk of fraud on new applications, risk is up from a year ago. Rising rates could drive risk higher.
Mortgage Risk Rises, Purchase Shift Blamed
An increasing share of home purchase transactions is having a negative impact on the risk of defects, fraud and misrepresentation in home-lending applications.
LO Busted for Reverse Mortgage Fraud
A loan officer who originates reverse mortgages has been charged with committing mortgage fraud and not completing promised home repairs.
N.Y. Judge Arrested for Mortgage Fraud
A small-town judge in the Empire State has been arrested for allegedly lying to a home lender to obtain a mortgage.
Mortgage App Fraud Risk Continues to Rise
During each of the past five months, the risk of fraud on applications for a residential loan has moved higher. The Dakotas are emerging as a troubled region.
Former Chase Mortgage Originator Pleads Guilty
A guilty plea has been made by a former mortgage loan originator at JPMorgan Chase & Co. who is accused of causing more than $30 million in losses to his employer.