Articles

A New Twist On Owner Occupancy Fraud

We often hear that there is no such thing as a perfect crime. Perhaps that is why there is always a fraudster trying to improve them.

CoreLogic says the newest wrinkle in mortgage fraud is a reverse approach to the old misrepresenting occupancy scam. Traditionally it has been prospective investors who have claimed they intend owner occupancy.  By posing as a resident owner they might qualify for a better interest rate, lower fees, a smaller downpayment or higher loan amount than they would by applying for a mortgage as an investor. Read More


We strive to be Georgia’s preeminent source for information and education about fraud, quality control and compliance between industry professionals and residential communities in real estate and residential financial transactions. We Lead The Cause.  We Do It Right.  We Are One.
Join Us For Our Annual Conference March 7, 2017. More details and Registration at www.grefpac.org

 

Are There Any Classes on Mortgage Fraud?


My name is Scott Kelly and I am the President of GREFPAC.  We often receive inquiries regarding classes on Mortgage Fraud. 

My first inclination is to refer you to what GREFPAC will be offering.  We plan to have a one-hour webinar that will focus on the upcoming change in government and potential implication on regulations and anti-fraud efforts.  We will be planning other webinars on various topics throughout the year. 

GREFPAC also offers an Annual Fraud Conference. The next one, our 13th, will be March 7, 2017 at the Cobb Galleria Centre.

There will be individuals that will speak to Ethics, Fannie Mae and Freddie Mac fraud trends, FHA, and the FBI. Our keynote is Rachel Dollar, Editor of Mortgage Fraud Blog, who is very well known and respected in the industry. We will also have an individual who was convicted of mortgage fraud talk about his experience – how he rationalized the actions and how they snowballed out of control.  The Conference is an all-day event and only costs $75.00 ($65.00 for early registration).  

There are other Mortgage Fraud classes and conferences available through the Mortgage Bankers Association (mbaa.org).  Some should be available online and some are held out-of-state.  Most of the classes are in the $100 range, and their conferences generally run $750 per person or more. 

Information about mortgage fraud is also available on websites such as corelogic.com, Fanniemae.com, freddiemac.com, and hud.gov.  Additionally, there is information and groups that you may join on LinkedIn. 

It is recommended that you become a member of GREFPAC. The membership is free, and you will receive articles and information on recent happenings in the mortgage fraud arena.
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We strive to be Georgia’s preeminent source for information and education about fraud, quality control and compliance between industry professionals and residential communities in real estate and residential financial transactions. We Lead The Cause.  We Do It Right.  We Are One.
GREFPAC is a 501c(3) non-profit association.