Comments on: Mortgage Fraud: Where Will the Hammer Fall? http://blownmortgage.com/2008/11/23/mortgage-fraud-where-will-the-hammer-fall/ #1 Free Home Loan Modification & Debt Relief Help For US Home Owners - Truths, Facts & News About the Mortgage Industry Fri, 20 Nov 2009 00:20:49 -0700 http://wordpress.org/?v=2.8.3 hourly 1 By: Ridge Runner http://blownmortgage.com/2008/11/23/mortgage-fraud-where-will-the-hammer-fall/comment-page-1/#comment-71442 Ridge Runner Fri, 28 Nov 2008 11:02:05 +0000 http://blownmortgage.com/?p=1738#comment-71442 A good place to start would be the insured loans that default and have their coverage rescinded by the insurer due to originating agent complicity in fraudulent documentation of the loan. <br><br>Mortgage guarantee insurance excludes from coverage defaults on loans where the lender's agent or employee (loan officer, broker, etc.) knowingly misrepresented the transaction. An increasing percent of MI claims are being denied for this reason, and these denials are necessarily backed up by the investigative files generated in the course of evaluating the claim (because unwarranted recissions can be challenged in court). The information in these files would be a gold mine for prosecutors attempting to track down those who have stolen large sums through such fraudulent activities. A good place to start would be the insured loans that default and have their coverage rescinded by the insurer due to originating agent complicity in fraudulent documentation of the loan.

Mortgage guarantee insurance excludes from coverage defaults on loans where the lender's agent or employee (loan officer, broker, etc.) knowingly misrepresented the transaction. An increasing percent of MI claims are being denied for this reason, and these denials are necessarily backed up by the investigative files generated in the course of evaluating the claim (because unwarranted recissions can be challenged in court). The information in these files would be a gold mine for prosecutors attempting to track down those who have stolen large sums through such fraudulent activities.

]]> By: Ridge Runner http://blownmortgage.com/2008/11/23/mortgage-fraud-where-will-the-hammer-fall/comment-page-1/#comment-12688 Ridge Runner Fri, 28 Nov 2008 10:02:05 +0000 http://blownmortgage.com/?p=1738#comment-12688 A good place to start would be the insured loans that default and have their coverage rescinded by the insurer due to originating agent complicity in fraudulent documentation of the loan. <br><br>Mortgage guarantee insurance excludes from coverage defaults on loans where the lender's agent or employee (loan officer, broker, etc.) knowingly misrepresented the transaction. An increasing percent of MI claims are being denied for this reason, and these denials are necessarily backed up by the investigative files generated in the course of evaluating the claim (because unwarranted recissions can be challenged in court). The information in these files would be a gold mine for prosecutors attempting to track down those who have stolen large sums through such fraudulent activities. A good place to start would be the insured loans that default and have their coverage rescinded by the insurer due to originating agent complicity in fraudulent documentation of the loan.

Mortgage guarantee insurance excludes from coverage defaults on loans where the lender's agent or employee (loan officer, broker, etc.) knowingly misrepresented the transaction. An increasing percent of MI claims are being denied for this reason, and these denials are necessarily backed up by the investigative files generated in the course of evaluating the claim (because unwarranted recissions can be challenged in court). The information in these files would be a gold mine for prosecutors attempting to track down those who have stolen large sums through such fraudulent activities.

]]>