Freddie Mac alerts real estate agents to rising short sale fraud

Now let’s look at what Freddie Mac’s "opinion" of how fraud is enacted. A seller (delinquent borrower) owes $100,000 on a property that is worth $80,000. Hmmm..I wonder how that value is obtained. Oh yeah it’s by a lender designated real estate agent who gets a few bucks for giving a BPO. No investor representations here.

Freddie Mac recognizes different categories of mortgage fraud including fraud for housing and fraud for profit. Fraud for housing To achieve this, the borrower’s income and/or assets will typically be inflated and further supported by false documentation pertaining to those particular sections in the mortgage application.

Nationstar scoops huge Fannie, Freddie mortgage servicing portfolio Short Takes: Is Nationstar Listening to Trump ? Hard Times for Chennai, India ? What Will Ocwen Financial Do ? Big M&A Maybe DocMagic Ready for UCD By Paul Muolo nationstar mortgage early wednesday announced that it has moved its international call center operation back to the U.S. from India, “creating” 500 jobs in the.

Vendor Products and Denver Conference Exhibitions "Fundingshield, the leader in loan level wire account settlement party verification, issued an alert of an increased expectation of wire fraud this.

Fannie Mae: There are more potential homebuyers out there WARNING: Please note that Fannie Mae does not use text messaging or Google chat services for job screening or interviews with potential candidates. If you apply to a position at Fannie Mae and meet the requirements, a Fannie Mae recruiter may be in touch by phone or through email on a Fannie Mae email address.

Ohio lawsuit accuses Freddie Mac of fraud.. alleging a failure to pay fees on transfer taxes on over 3,500 real estate transactions over six years. court documents show that the Federal Home.

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You can get a conventional mortgage backed by Fannie Mae or Freddie Mac for an investment property with four. including the owner’s mailing address. You could enlist a real estate agent to be your.

Current combined funding for those two funds is several hundred million a year, coming from a fee on loans purchased by the gses fannie mae and Freddie Mac. The HTF provides. supply of affordable.

Former Fannie, Freddie Officials Face 'Significant' Fraud, Lying Charges Short sale fraud has become the top priority for Freddie Mac’s fraud investigation unit, according to Shelley Poland, single-family chief credit officer. She says the GSE is working with agents and others in the field to identify real estate professionals who rig sales and hide higher offers from Freddie Mac and the seller in order to turn.

Freddie Mac recently began reaching out to real estate associations and fielded more calls on a rising rate of fraudulent short sales.

Is a short sale to a relative considered fraud? Asked by Brian, Arcadia, CA Sun Dec 14, 2008. My inlaws, caught up with the real state boom, bought a house two years ago they could not afford with a ARM loan. Now they can’t afford the payments and have asked my wife and I if we would like to buy the house on a short sale.