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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arkygirl
Anyone here have a subscription to Inman News?

I do random searches for various keywords when I have free time and came up with this little tidbit. If these guys think servicing fraud is a "new frontier" they are more than a little bit behind the times, yes?

I would LOVE to know what the entire paragraph says.

Lawmakers turn attention to mortgage fraud
Inman.com, CA - Feb 16, 2009
The default servicing arena "appears to be the new frontier for fraud perpetrators," the Mortgage Bankers Association says in a brochure promoting its ...


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Go here: 
 http://www.stewart.com/news.jsp?newsId=36437&printer_friendly=true

Pistole said the FBI is focusing its enforcement efforts on industry insiders who are part of organized rings engaged in mortgage "fraud for profit," as opposed to "fraud for housing" -- instances where individual borrowers make misrepresentations in order to acquire a house to live in.

"Industry insiders are of priority concern as they are, in many instances, the facilitators that permit the fraud to occur," Pistole said.

As foreclosures continue to rise, so have foreclosure rescue scams, Pistole said, and the FBI is out to "target, disrupt and dismantle" individuals and companies engaged in such fraud schemes.

The default servicing arena "appears to be the new frontier for fraud perpetrators," the Mortgage Bankers Association says in a brochure promoting its upcoming National Fraud Issues Conference in Las Vegas. The conference, which takes place March 16-18, will include a panel discussion of national fraud trends and problem areas with representatives of the FBI, U.S. Attorney, and the Department of Housing and Urban Development's Office of the Inspector General.


 

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arkygirl
Thanks for this link!

I found the MBA brochure referenced and here is the actual text:

Servicing and Foreclosure Fraud
Despite all the recent legislation and media
attention, servicing and default servicing is becoming
fertile ground for identity theft and mortgage fraud.
This trend is due in part to the public nature of listing
actions surrounding default, foreclosure proceedings
and Real Estate Owned (REO) properties. This
session reviews multiple fraud schemes that are
being revealed across the country. Panelists discuss
steps servicers can take to prevent these activities.

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