- Real Estate
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Welcome to the real and unethical world of mortgage fraud. All over the country, real estate industry professionals and homeowners alike participate in fraudulent real estate transactions. As much as 80% of mortgage fraud is perpetrated by insiders who are implementing a planned fraud scheme. In each case of fraud, some parties involved are actually unaware that their participation in the transaction could result in serious trouble. Although some of these people believe what they are doing is acceptable because "so many other industry professionals have been doing the same thing," others have chosen an attitude of "willful blindness" to the fraudulent part of the transaction. You can call it misrepresentation. You can ignore it. But it is fraud -- mortgage fraud.
This course is designed to provide you with the information needed to understand what mortgage fraud is, how to recognize it, who is involved and how it affects not only you but the industry and homeowners. You will learn how these frauds operate, the buzz words and catch phrases of their schemes, and the hot fraud schemes used today. Perhaps most importantly, you will learn what you can and should do about fraud when it is suspected, as well as what you can do to protect yourself, your clients and your company from mortgage fraud.
Upon successful completion of this course, you will be able:
To understand the meaning and dimensions of mortgage fraud.
To understand the scope of the fraud problem.
To understand who is involved in fraud.
To understand how mortgage fraud affects the industry.
To understand how mortgage fraud affects all homeowners.
To understand how fraud is perpetrated.
To know how to identify the hot fraud schemes.
To know how to recognize and prevent fraud.
To understand the documents most likely to contain fraudulent information.
To know how to report fraud.
To know how to protect yourself against fraud.
To understand the high cost of fraud.