Mortgage Fraud

Risk & Compliance: How to Detect, Prevent & Fight Mortgage Fraud In Your Organization

Last updated 2022-01-10 | 4.8

- Identify & Recognize Typical Fraud Schemes
- Why FHA Loans are More Susceptible to Fraud
- How to Utilize Online and Offline Resources to Help Spot Potential Fraud

What you'll learn

Identify & Recognize Typical Fraud Schemes

Why FHA Loans are More Susceptible to Fraud

How to Utilize Online and Offline Resources to Help Spot Potential Fraud

What to Do When You Find Possible Fraudulent Information

* Requirements

* Minimum Basic Understanding of Mortgage Industry
* PDF Reader for Manuals & Resources

Description

Learn how to detect and prevent fraud!

Mortgage fraud costs lenders - and consumers - billions of dollars every year! Protecting yourself and your company could be as simple as one-or-two clicks and 60 seconds of double checking a small detail. But nothing is small when it comes to fraud!

Learn the "tricks of the trade" from a 30-year industry veteran and certified fraud expert who has investigated and worked on some of the largest fraud cases in the country - and how catching little oversights could have prevented millions of dollars in losses.

Designed for lending professionals, including compliance, loan originators, processors, underwriters, closing staff and mortgage executives - this 60-minute training provides an inside look at mortgage fraud schemes and trends.

Program includes specific details on:

• Mortgage fraud trends and current schemes being used

• Purchase & refinance schemes - including short sale flops & identity fraud

• How to properly check identification of borrowers & supporting documents

• Typical "Red Flags" of the 1003 application, and other warning signs

Training looks at signature analysis (actual case study), the legal side of fraud, your individual liability, compliance procedures, CFPB and SAR reporting, and the penalties for fraud.

Presented by best-selling author, mortgage fraud & industry expert Chip Cummings. This course includes actual fraud examples, transcript, PDF manual and bonus materials/resources. Also includes Q&A from industry attendees on the LIVE presentation!

This quick course is a MUST for anyone involved in mortgage lending or the world of real estate!

BONUS DOWNLOAD - Attendees receive a downloadable state-by-state identification and online resource guide!

Who this course is for:

Mortgage Loan Originators
Mortgage Loan Processors
Mortgage Compliance
Mortgage Managers & Executives
Real Estate Agents, Title Company Agents, Appraisers

Course content

7 sections • 13 lectures

Mortgage Fraud Prevention and Detection - Intro 3 lectures

Introduction & Overview - Mortgage Fraud Prevention & Detection Preview 01:11

Welcome to the training program! This is a brief introduction to the program....

Presentation Training Manual Preview 33 pages

Complete downloadable version of the PowerPoint presentation! Use as a reference guide and to take notes during the presentation. Highlights the important details of the training, and allows attendees to view documents and case study materials in an easier format.

Mortgage Fraud Prevention and Detection Training Introduction Preview 06:56

The first module in our Mortgage Fraud series discusses the depth of fraud in the marketplace, and the course objectives.

Mortgage Fraud Trends 1 lectures

Mortgage Fraud Trends Preview 07:55

The second module in our series looks at the trends associated with mortgage fraud, SAR's reports, and shares survey results of national industry participants on their perception of fraud - and if they have ever been exposed to mortgage fraud!

Types of Mortgage Fraud 1 lectures

Types of Mortgage Fraud Preview 04:19

This part of the training looks at the various types of mortgage fraud, and outlines the difference between "fraud for profit" and "fraud for property"

Emerging & Typical Fraud Schemes 1 lectures

Emerging & Typical Fraud Schemes Preview 17:19

Module 4 looks at "Emerging Fraud Schemes" and some of the more typical fraud patterns found in mortgage transactions. Discussion includes "Internal Fraud", "External Fraud", purchase and refinance schemes, and short-sale fraud.

Prevention, Detection & Investigation 1 lectures

Prevention, Detection & Investigation Preview 17:48

The heart of the presentation, this module includes prevention, detection and investigation techniques.

Begins with "borrower identification", then looks at the "typical Red Flags" of a 1003 loan application. Examples include actual documents for employment and income misrepresentation, signature analysis, and online and offline resources.

The Legal Side of Mortgage Fraud 2 lectures

The Legal Side of Mortgage Fraud Preview 14:54

The final segment in the training looks at the legal aspects of mortgage fraud. Included is a discussion on how/when to report fraud, regulatory compliance, YOUR liability in fraudulent transactions, administrative actions, and Federal mortgage statutes that are used to prosecute those involved in mortgage fraud.

The program concludes with a Q&A session from the live recorded program.

Once you have completed the program, please download the BONUS items which have been prepared for you!

ALSO - PLEASE TAKE A MOMENT TO "REVIEW" AND RATE THIS CLASS! If you enjoyed the content, please let others know - and help us to continue to provide quality programs in the future. THANKS!!!!

Conclusion Preview 00:21

FInal thoughts on the training class from Chip Cummings...

BONUS Resources 4 lectures

BONUS - State-by-State Identification Resource Manual Preview 60 pages

This is a complete 60-page State-by-State Resource Guide! Includes examples of picture identification for every state, online verification resources and ID coding structure to verify a borrowers identity!

Invaluable for assisting loan originators, processors, underwriters, compliance personnel, title agents or other industry professionals to establish valid ID's

Transcript - Full Presentation Preview 21 pages

Complete transcription of the video presentation! This 21-page transcript makes it easy to follow the trainer, and go back over small details within the presentation.

Northwind International Corp - Services & Resources Preview 2 pages

These documents provide details about the program sponsor, Northwind International. Supplemental documents list the various training programs, quality control and compliance services available. In addition, Northwind also provides AML/SAR compliance training and site audits, and mortgage fraud consulting (surprise!)

Thanks again for participating in our training, and should you have any questions or concerns - please contact us at (866) 977-7900 or [email protected]

PLEASE TAKE A MOMENT TO LEAVE A REVIEW OF THIS COURSE! This helps us to provide quality programs in the future. Thanks!