LO Allegedly Used Own Bank Statements on FHA Loans
A New Jersey loan officer is accused of altering his own personal banks statements to use for prospective borrowers on over 20 government-insured mortgages.
LO to Testify Against Judge in Mortgage Fraud Case
A Chicago-area loan originator has pled guilty to her role in mortgage fraud scheme involving a judge whom she has agreed to testify against.
Bank Owner Pleads Guilty to Mortgage Fraud
A major stockholder in a bank that failed several years ago has admitted to deceiving officials about his interest in loans made by the bank and to mortgage fraud.
Mortgage App Defects Elevated from Year Ago
Defects in single-family loan applications remain substantially higher than one year ago. But defects have more recently stabilized and are likely to remain stable.
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.