RC_GO_F_200.3 Mortgage Loan-Level Misrepresentation

Whether a borrower engages in fraud for housing or fraud for profit, many misrepresentations can be identified through careful review of documentation contained in the individual loan file. Loan-level misrepresentation often involves inconsistencies, omissions, or fabricated information related to employment, income, assets, liabilities, occupancy intent, or property value.

Mortgage Loan-Level Misrepresentation focuses on identifying red flags within key loan documents and evaluating whether the information in the file is consistent, reasonable, and supportable. The course examines areas of potential concern within the loan application, sales contract, credit report, income documentation, asset documentation, and appraisal. Emphasis is placed on cross-referencing information across documents and applying professional judgment to determine when additional review or verification may be warranted.

At the conclusion of the course, learners are provided with a consolidated loan-level checklist that brings together the critical red flags discussed throughout the course into a single reference document.

This course is designed to strengthen a learner’s ability to analyze loan documentation holistically and identify indicators of possible misrepresentation during the origination process.

This is a single-family/residential course.

Topics:

• Application Review
• Sales Contract Review
• Credit Report Concerns
• Income Documentation Review
• Asset Documentation Review
• Appraisal Review

Seat time approximately 1 hour.

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