mortgage fraud
Please read pages 18-22 and page 24 of the FBI 2008 Mortgage Fraud Report, the Freddie Mac Fact Sheet Preventing Mortgage Fraud, and the Fannie Mae Common Red Flags document. Then, please answer the following questions:
- What are your thoughts about preventing mortgage fraud?
- What indicators/red flags are there that mortgage fraud may be involved in a transaction or process?
- What recourse does a buyer have after being the victim of mortgage fraud?
Post your responses on the discussion board. Remember to respond to at least two other students’ comments.
……………Answer preview………………
Mortgage fraud is not a new term in US laws. It has been there for quite a long time. It is a situation where a person taking a mortgage misrepresents or omits information on a mortgage loan application so as to get a larger loan that would have been obtained…………………………….
APA
202 words