Mortgage Servicing Fraud
occurs post loan origination when mortgage servicers use false statements and book-keeping entries, fabricated assignments, forged signatures and utter counterfeit intangible Notes to take a homeowner's property and equity.
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Buying or refinancing your new business asset may be one of the most important and complex financial decisions you'll make. Many lenders and real estate professionals stand ready to help you get a good property and a commercial loan. However, you need to understand the whole process as being a smart consumer. Every year, misinformed consumers, often first-time borrowers, become victims of loan frauds. You can avoid them easily if you have the knowledge of the current market and these tips before you apply for a commercial loan

Be smart and don't be a victim of loan frauds:

  • Estimate how much you actually need, your payback plan and loan term.
  • Consult some commercial loan lenders and choose one who has better references and popularity.
  • Get information about the prices of loans in the neighborhood. Don't be fooled into paying too much rate.
For more Tips visit loanscut
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A sset-based lenders typically don't focus on the occupational fraud that can occur within a borrower's business. Occupational fraud usually benefits the perpetrator against the organization. Lenders' monitoring systems, field exams, and financial analysis are not geared to pick up employee abuse or embezzlement. And, early warning systems are not designed to find contract fraud, check fraud, communications fraud, identity theft, or money laundering.
Lenders generally find financial statement misrepresentation when there is a collateral overstatement. On the other hand, financial statement misrepresentation is often generated from a covenant compliance angle. So, who's responsible for finding management fraud in a secured-lending portfolio?

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