RC_GO_F_200.4 Mortgage Loan Fraud Best Practices and Resources

In order to deter, uncover, and minimize losses associated with mortgage fraud, lenders should have a comprehensive fraud detection and deterrence plan in place that covers all aspects of the production cycle (origination, processing, underwriting, and closing) and all areas of the servicing function. Freddie Mac, Fannie Mae, Consumer Financial Protection Bureau (CFPB) and many other industry organizations have compiled lists of red flags, best practices, and resources that help mortgage lenders and their staff stay ahead of fraud perpetrators.

Mortgage Loan Fraud Best Practices and Resources begins with a look at best practices that help lenders create a culture in which fraud detection is a priority. Next, it describe the steps that mortgage loan originators and underwriters can take to become the first line of defense against fraud. The course then describes quality control best practices and the four common categories of loan defects that might indicate fraud. Toward the end of the course, the resources that are available to help mortgage personnel and borrowers help combat fraud are discussed.

This is a single-family/residential course.