Fraud Schemes

Foundations on Demand

This series is designed to be an introduction to the mortgage Fraud Schemes that are impacting our industry. These fraud schemes include: Backwards Application and Identify Theft, Strawbuyers and Occupancy Fraud, Flip Transactions, Real Estate Wire Fraud, Foreclosure Rescue, Chunking, Air Loans, Builder Bailouts and Internet Fraud.

Introduction

Familiarize yourself with the mortgage Fraud Schemes impacting our industry.

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Backwards Application and Identity Theft

Explore how the Backwards Application scheme works and how Identity Theft impacts consumers.

Strawbuyer and Occupancy Fraud

Strawbuyer and Occupancy Fraud are becoming more common. Learn the basics of these schemes to help identify if this is happening in your loan files.

Flip Transaction

Learn how the Flip Transaction impacts our communities, as well as some tips on how to detect this popular fraud scheme.

Real Estate Wire Fraud

Wire Fraud is one of the fastest growing cybercrimes in the U.S. Build your knowledge on how this scheme works.

Foreclosure Rescue

Explore the process of the Foreclosure Rescue scheme.

Chunking

Learn how consumers are deceived into the Chunking Scheme with a real-life example.

Air Loans and Builder Bailout

These complex schemes can cause significant losses. Learn more about the Air Loan and Builder Bailout schemes.

Internet Fraud

Using the internet to engage in fraudulent mortgage transactions is growing. Learn how internet fraud is changing the industry and leading to larger and more costly schemes.

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