Comments on: When people get desperate, all bets are off.

By: The Odysseus Medal competition — The long list | BloodhoundBlog: Real estate marketing and technology blog | Realtors and real estate, mortgages, lending, investments

Sun, 30 Sep 2007 19:12:10 +0000

[...] Ask The Broker: How Much Below The List Price Should We Offer?Morgan Brown — Mortgage fraud, When people get desperate, all bets are off.Dustin Luther — Make an impact, 7 Ways to Make an ImpactGreg Kilwein — Wireless MLS, [...]

By: Good to Go Pile . . . « Trading for the Masses

Good to Go Pile . . . « Trading for the Masses — Wed, 26 Sep 2007 20:00:18 +0000

[...] When people get desperate, all bets are off. [...]

By: Morgan Brown

Morgan Brown — Wed, 26 Sep 2007 18:50:28 +0000

Ann – So how do we eliminate it, or at least mitigate it when there is so much too gain for so many people?

By: Morgan Brown

Morgan Brown — Wed, 26 Sep 2007 18:49:48 +0000

Don – Excellent point. If you can’t defend it, don’t do it.

By: Morgan Brown

Morgan Brown — Wed, 26 Sep 2007 18:49:27 +0000

Bystander, great point and I had meant to amend my post with that information before going live with the post – i have updated it accordingly. Thanks!

By: Don

Don — Wed, 26 Sep 2007 16:08:05 +0000

Morgan, the underwriter I worked with was very, very good. She tells me that that there was an increase in fraud about a year to 18 months ago when people couldn’t get into stated/stated anymore. And EVERYONE was/is doing it, LO’s working with appraisers working with title working with notaries working with real estate agents working with escrow officers.

REALLY BAD!!

I learned from old school u/w’s! If you do something to a loan, ask yourself, can I defend this in an audit? If not, stay the course.

It’s just not worth getting destroyed by permanently losing your license.

BE HONEST!!!!

By: DIRECT MAIL MARKETING BLOG » Blog Archive » 14 Mortgage Fraud Examples - Mortgage Fraud At Every Turn

Wed, 26 Sep 2007 08:10:25 +0000

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By: John Power

John Power — Wed, 26 Sep 2007 03:07:17 +0000

Fraud takes place when one gets greedy, or desperate. Its very difficult to stop exploitation in these case.

By: Bystander

Bystander — Wed, 26 Sep 2007 01:09:38 +0000

Great post. One point of clarification though (and this is really, really minor). You wrote, “Ms. Dollar, author of Protect Yourself from Real Estate and Mortgage Fraud: Preserving the American Dream of Homeownership…”

I feel it’s important to point out that Rachel is the co-author of that book (which is a great book, by the way). Her co-author, Ralph R. Roberts, is also a nationally-recognized expert in the Real Estate and Mortgage Fraud prevention space.

Again, minor point but an important one to make.

By: Ann

Ann — Wed, 26 Sep 2007 00:31:58 +0000

We all know that fraud exist in the industry…as brokers,realtors, and appraisers become seasoned in the business.. they learn which roadblocks they will encounter with lenders and how to get around them. That is the first problem..second..mortgage fraud is a crime that has a blind eye..there are not enough in law enforcement to go after those that commit it unless it is on a grand scale..To find fraud easily all one has to do is go on the MLS and look at how many closings in todays market are as much as $100K over the selling price..We can blog, note charts, show stats all we want…but in the market all parties involved will do what must be done to get the loan funded..as always…