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Mortgage fraud is a scheme in which a fraudster uses some type of material misrepresentation or omission to cause a mortgage lender to fund a loan. Mortgage fraud can be as simple as providing false information on a loan application, or can be very complex and involve corporate shell companies and complex identity theft schemes. Current mortgage fraud trends include equity skimming, property flipping, and mortgage related identity theft. Mortgage fraud results in millions of dollars in losses to financial institutions each year. Experience our best-in-class online training solution! Click below to view a sample course from our extensive library of over 250 courses, on the hot topic of Mortgage Fraud Awareness!
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"Complying with the Red Flags Rule will be challenging for financial institutions and affected businesses. We are delighted to partner with Compliance Coach to be able to offer to our clients an innovative solution that makes it easier for them to comply." Helen "Rusty" Beckel Senior Vice President Strategy and Market Development Harland Financial Solutions "One of the most difficult things about preparing the bank for a new regulatory requirement is getting started. No one wants to reinvent the wheel, and having an organized framework that CompliancePal provides is a tremendous advantage. The risk assessment portion of the program gets you right on track with evaluating products and services. The system walks you through the process in a logical, organized manner. CompliancePal got us into compliance and we will continue to use it for ongoing compliance so we can stay up-to-date with the dynamic regulatory requirements."
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