Fannie Mae, the federally chartered company that buys home mortgages and sells them as securites, is receiving a highly public fanny-kicking.
Homebuilder to pay $11 M for Bank Fraud & Mortgage Scam. Seeno company charged with bank fraud, fined $11 million. Six years after.
The U.S. Department of Housing and urban development (hud) office of Inspector General (OIG) is the Department’s law enforcement arm and is responsible for investigating complaints of mortgage fraud.
The CoreLogic Mortgage Fraud Brief analyzes the metro areas with the highest mortgage fraud risk on a quarterly basis, and offers quarterly mortgage fraud insights based on analysis of trends found in residential mortgage loan applications processed by LoanSafe Fraud Manager. The Mortgage Fraud Brief covers: Quarterly insights based on CoreLogic analysis of mortgage applications; highest ranking fraud risk metro areas; CoreLogic developed the index based on residential mortgage loan.
Mortgage Fraud Prevention Fannie Mae is committed to preventing mortgage fraud whether perpetrated by a borrower, a lender, or another person or institution. We offer a variety of resources to help you detect and prevent mortgage fraud.
Mortgage fraud has become more prevalent over time and is a particular concern during an economic recession. Upheaval in housing markets, homeowners facing foreclosure and unscrupulous persons looking for easy money all contribute to a climate in which mortgage fraud may occur.
The risk of mortgage fraud jumped by 12.4 percent on an annual basis in the second quarter, the seventh consecutive quarter in which it has increased. CoreLogic said its Mortgage Application Fraud.
An Adjustable-Rate Mortgage (Arm) Adjustable rate mortgages (arm loans) have a set interest rate, which adjusts annually thereafter. The set rate period for ARM loans can last for 3, 5, 7, or 10 years. arm loans are often a good choice for homeowners who plan to sell after a few years.
Stockton Man Sentenced to Three Years in Prison for His Participation in a Large-Scale Mortgage Fraud Scheme. Arthur Change Menefee of Stockton was sentenced to three years in prison and ordered to pay over $5 million in restitution for mortgage fraud.
But when they write that check, so their children aren’t crushed by debt at the start of their adult lives, they cut into.
5 1 Loan Letters for May 5: Payday loans, Amendment 1 and more – Last Monday, I watched in amazement as City Council debated the payday loan ordinance. I was shocked to hear my words come out of (Mayor Ken) McClure’s mouth. I agree this ordinance will do nothing to.
Mortgage fraud is a serious crime, and one punished by significant penalties. Because mortgage fraud can involve different crimes at either the state and federal level, the potential penalties associated with the crime differ widely.
Mortgage Fraud: Intentionally falsifying information on a mortgage loan application. The intention of mortgage fraud is typically to receive a larger loan amount than would have been permitted if.
Define Adjustable Rate Mortgage Arm | Definition of Arm by Merriam-Webster – Arm definition is – a human upper limb; especially : the part between the shoulder and the wrist. How to use arm in a sentence.. An adjustable-rate mortgage (ARM) is a type of mortgage using a varying interest rate calculated by adding a premium to a specific benchmark rate.