Mortgage Fraud on the Rise

A recent article in the Wall Street Journal stated that despite the new regulations, mortgage fraud is on the rise. The article sited findings by CoreLogic, a mortgage value tracking company. The company uses proprietary computer software that detects discrepancies in loan documents and predicts the likelihood of fraud.

Scammers are now getting more sophisticated and are recruiting employees of mortgage companies to help them. As a result, identify theft is also rising. You can read the rest of the article here.

Mortgage Fraud Conference

Convention season is gearing up. Despite the heat, the convention areas are pretty busy most of the year. Quite a few smaller conventions are held during the summer and fall months at meeting rooms in some of the strip properties.

There is a new one that I'm thinking of attending about mortgage fraud. It will be on November 14th and 15th, featuring Rachel Dollar and other experts. The conference is being held at Circus Circus. According to the site, attendees will learn tips and tricks to help avoid and stamp out fraud in the mortgage and real estate industries as well as receiving a complimentary copy of Protect Yourself from Real Estate and Mortgage Fraud, co-authored by Rachel Dollar and Ralph Roberts.

Tickets are $895 before September 30th, then $995 there after. Call (800) 848-4904 for ticketing.

Mortgages and mortgage note buying

I was surfing the net and kept coming across different mortgage sites. It seems that there are literally millions of mortgage or mortgage note buying sites. The buying of mortgages has been around a long time but because the housing market has been heating up, so the buying of mortgages. I did find several outstanding sites and decided to start a list here:

A Mortgage note Buyer Nationwide buyer of privately held real estate mortgage notes, deed of trusts, land contracts and contracts for deed in the residential, commercial and land markets. Get information and a free quote on the market value of your real estate note.

If you have a site that you think belongs here, please email me.

Coincidentally, my friend Glenn just wrote an article about Mortgage fraud. Very interesting stuff. It just demonstrates why its important to choose a reputable lender and why the laws need to be updated.