Mortgage Fraud: Recognizing the Signs
Mortgage fraud has long been a problem for the lending industry, but it is increasingly becoming a potential source of liability for real estate brokers and their businesses. The potential for brokers to be held responsible if agents are involved in a transaction that includes a fraudulently obtained mortgage makes it important that brokerages have a policy to address the issue internally. The National Association's Risk Management Committee has created a brochure to help brokers explain the issue and identify for their agents warning signs in a transaction.
Mortgage Fraud: Recognizing the Signs is available either as an 8½x11 handout or in a two-page form which when copied back-to-back forms a bi-fold brochure (available in either PDF or Word formats). Either format can be downloaded at no cost and reproduced for use in a sales meeting or other education programs for sales people to reinforce your firm's policy when signs of mortgage fraud appear in a transaction.