Daily News Feed | July 14, 2016 DS News – By Kendall Baer The results of Federal Housing Finance Agency (FHFA)’s Foreclosure Prevention report for April 2016 show that the enterprises completed more than 16,000 foreclosure prevention actions in…» Read More Daily News Feed | July 14, 2016 MReport – By Brian Honea The mortgage servicing industry has become stronger and more efficient in a post-crisis world due to the efforts of servicers to delegate authority to make modification decisions…» Read More Daily News Feed | July 14, 2016 DS News – By Kendall Baer While HUD recently proposed changes to its distressed loan sale program allowing a “preferential bidding” option to involve more non-profits, Fannie Mae still sells its non-performing…

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The following is based on a true story and, for a blog, may be a little long, but mortgage professionals need to be aware of what some prosecutors are doing with respect to the past subprime industry and prosecuting stated income/stated asset loans that have gone into foreclosure.

The actual names of both the lenders By now I am sure everyone knows that compliance has become paramount and must be given a priority status by every company in the mortgage industry regardless of size.

In particular this has become a major issue for Mortgage Brokers as they struggle to keep the cost of compliance down without the use of a You remember the day well.

A beautiful morning, the market is growing, business is going very well and you are just on top of the world as you pull up to your office.

It all ends in the next 30 minutes as you find out you are being audited by your regulator.A thousand things A mortgage fraud and compliance expert can be a very valuable asset.Mortgage Brokers work with fraud and compliance experts to make sure they are in compliance with all current rules and regulations.Lawyers and regulators frequently consult with these experts in mortgage fraud cases to not only illuminate the facts, but also to explain what these Mortgage fraud occurs whenever a borrower, Mortgage Broker, Loan Officer or other involved party misrepresent any of the facts with respect to the application process.The point of misrepresenting information is to allow the borrower to illegally qualify for a home loan or, if a Mortgage Broke/Loan Officer, to earn a commission using fraudulent information.In many cases all parties to Mortgage borrowing is a complex procedure and the process is susceptible to mortgage fraud for a variety of reasons.