Mortgage Fraud

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Mortgage fraud is a multi-billion dollar a year problem in the United States. Infrastructure held in place by strong neighborhoods and communities are feeling the devastating effects of mortgage fraud, and subsequently, vacant property crimes.

Mortgage fraud training for investigators and prosecutors is being offered by the NW3C as part of a larger collaborative BJA effort. The 2 ½ day course introduces attendees to the traditional mortgage process, and explores the common fraud schemes during each part of the process, while identifying red flags within the transactions and documents. Instructors discuss real-life examples of past and present cases and assist students in working through a mortgage fraud scenario involving several types of fraudulent activity. Many times mortgage fraud is not a singular type of fraud and it may encompass other crimes.

The training includes presentations and discussions on the following topics:

• Players, Transactions, and Documents (How the mortgage process should work)
• Common Schemes (Descriptions of the schemes and indicators of fraud)
• Origination and Processing Fraud Schemes
  

  Application Fraud Identity Theft Straw Buyer Multiple Loans Property Theft

  Appraisal Fraud Silent Seconds Illegal Flipping Illegal Short Sales Builder Bailout

• Closing and Post-Closing Fraud Schemes
  

  Reverse Mortgage Scams Illegal Loan Modification Foreclosure Rescue Scam

  Section 8 Fraud Real Estate Owned (REO) Property Bizarre Scams

There are 9 Mortgage Fraud classes currently scheduled.

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