Mortgage loan documents fraud reviews

Mortgage fraud is a growing concern in the real estate industry. Some of the major forms of mortgage fraud include foreclosure scam, property flipping, inflated appraisals, use of false identity, equity skimming, and asset rental.

Mortgage fraud is defined as any misrepresentation or omission of information by a lender purchase, fund, or insure a loan. Mortgage fraud is harmful to homeowners, mainly the foreclosure rescue scams that prey upon vulnerable borrowers. Such frauds can lead homeowners to bigger financial problems than before and probably even cost them the property itself.

Mortgage Fraud Review Online

Mortgage fraud can also be a problem to the lenders, who face a higher risk of default when lenders misrepresent any important material. Additionally, scammers may use mortgage loan frauds to steal from borrowers by manipulating the real estate transaction process. It can be a problem to communities by producing more empty and foreclosed properties, instead of properties occupied by responsible owners.

There are various federal and state laws used to minimize foreclosure fraud.

The way to detect, prevent and investigate mortgage fraud is to understand the weakness and stress points in the mortgage loan process. The companies that commit mortgage fraud understand how to exploit those weaknesses. Consequently, to become better at enacting controls, detecting red flags, and investigating fraud, Mortgage Audit Online looks at the mortgage loan process as fraudster would.

Mortgage Audit Online performs a forensic mortgage audit. The reviews are done to determine if whether the established underwriting regulations have and whether the lenders or brokers have surpassed the number of criminal referrals that, expected.

Mortgage Audit Online provides mortgage fraud documents review services to determine if your lender complied with the legal requirements. This review can help you avoid foreclosure, speed the loan modification process, reduce what you owe or even cancel the loan.

For a free consultation regarding a mortgage audit report, contact us here