2010-07-14housingwire.com

"The risk of mortgage fraud continues to decline, but one in 200 conforming loan applications could still contain misrepresentations in the file that could lead to default, according to projections in the July 2010 edition of the CoreLogic (CLGX: 18.93 -0.37%) Mortgage Fraud Trends Report..."


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Comments:

mortgagemess at 20:14 2010-07-14 said:
The reality is that UNLESS the LENDER INCURS A LOSS..then nothing is done regarding the fraud.. the FBI has to start making public cases of arrests with false mortgage document information REGARDLESS if they are a loss to the lender or not....meaning.. a random amount of files need to be audited and then a public CNN type arrest of those committing the fraud....penalties need to be severe...

That is what prevents EVERYONE from being a criminal in the first place..it won't stop everyone.. but it will let many think about if it is worth it or not.. Permalink

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