Articles

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Scammers Conning Homebuyers Out of Their Downpayments. Read More

 Mortgage Fraud is On The Rise and Here Is What It Means to You. Read More.

 Law Enforcement Officials See Increased Sophistication in Mortgage Fraud. Read More

 As Mortgages Shift to Purchase Market, So Do Fraud Schemes. Read More

 Coto De Caza man gets 8 years for $2 million home loan cam that target more than 500 people. Read More

 SEC says "first ever cryptocurrency backed by real estate" is a fraud. Read More

 Buzzworthy with Ann Fulmer: Risk Management, Borrower Liens and Judgments Read More

 HUD Must get Better at Stopping Section 8 Fraud Read More

  CitiMortgage, Inc., O’Fallon, MO, Improperly Filed for FHA-HAMP Partial Claims Before Completing the Loan Modifications and Reinstating the Loans Read More

 Former Tulsa Housing Authority executive pleads guilty to audit fraud charge. Read More

 Convicted ex-lender who defrauded taxpayers is skimping on victim payments while living large, feds say Read More.

 Rate Defects Up From Year Ago; Rising Rates Could Spell Further Increase. Read More

 Sounding the Alarm. Mortgage Wire Fraud is a much bigger threat than you realize. Read More

 Ex-Asbury Park Housing Authority Executive Director Admits to $90K Theft. Read More

 CoreLogic: Mortgage Credit Risk Up in 3Q Read More

 Former Falls Housing Director Admits Theft. Read More

 4 More Charged With Sandy Fraud. Read More

 

 

Plan for QC Success in 2017 with Integrated Action Planning


Article presented by Phil McCall, COO mortgage quality control and audit technology provider ACES Risk Management Corp. (ARMCO)

With a new year comes new opportunities to start fresh. Now is the time for lenders to formulate a plan for loan quality success, and that plan starts, oddly enough, with a plan--an integrated corrective action plan, that is.

Regular quality control audits and corrective action planning are two  major components of Fannie Mae's Loan Quality Initiative, yet for many lenders, the systems through which they manage each of these elements are bifurcated, making it difficult to create a feedback loop to determine the effectiveness of corrective actions taken based on reporting results.

So what does this look like in action? Consider the follow scenario: 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
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From time to time GREFPAC may share information with its members, for informational or educational purposes, of which GREFPAC is not the originating source.  In such instances, the information shared may include links or references to other websites, organizations, programs, or entities.  Inclusion of such links or references by GREFPAC does not constitute an endorsement by GREFPAC. 

Former city worker gets probation for $20K federal housing fraud scheme


Source: nj.com) NEWARK -- The wife of an ex-Bayonne police officer who beat a handcuffed man was sentenced today to one year of probation for her part in a scheme to illegally obtain a $20,000 federal housing loan.

Rose Lillo fought back tears as she apologized to U.S District Court Judge Kevin McNulty and pleaded to be allowed to stay with her family.

"I have never asked anyone for anything in my 45 years," Lillo said. "My husband and my daughter are my life," she said.

Earlier this year, Lillo, the wife of ex-Bayonne police officer Domenico Lillo, admitted that she helped make a to false application to obtain U.S. Department of Housing and Urban Development funds.

In April 2012, Rose Lillo and her husband helped a relative file a loan application with Bayonne's Department of Community Development, an agency that receives federal money, authorities say.

They said the application falsely claimed the relative, who had Social Security and pension income of $24,985 annually, would be the sole resident of a house they purchased on West 49th Street. The relative's income level made him eligible for the federal loan, authorities said.

The Lillos moved into the newly purchased home, while the relative remained in the couple's prior home... Read More
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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.
Join Us For Our Annual Conference March 7, 2017. More details and Registration at www.grefpac.org
_______________________________
From time to time GREFPAC may share information with its members, for informational or educational purposes, of which GREFPAC is not the originating source.  In such instances, the information shared may include links or references to other websites, organizations, programs, or entities.  Inclusion of such links or references by GREFPAC does not constitute an endorsement by GREFPAC.