Best Practices, Common Sense Help Detect Mortgage Fraud
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ANNA DeSIMONE
(adesimone@icscompliance.com) is director of mortgage quality control for Integrated Compliance Solutions in Arlington. She was president of founder of Bankers Advisory Inc., a mortgage audit services firm acquired by ICS in 2004. She is author of numerous publications on the topic of mortgages and fair lending practices. |
By Anna DeSimone
Mortgage fraud in the United States is pervasive and growing. Over the past three years, the number of SAR (suspicious activity report) filings related to mortgages has tripled and the number of investigations processed by the FBI has quadrupled. By definition, mortgage fraud schemes contain some type of material misstatement, misrepresentation or omission in the funding, purchase or insuring of a loan.
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