Strategies for Preventing, Detecting and Resolving

Mortgage Fraud

Thursday, October 27, 2005

About


Do you have the systems and lending practices in place to make your company one of the 2% of mortgage lenders that do not suffer losses from mortgage fraud?

How much of the estimated $48 billion in losses did your business suffer due to mortgage fraud over the past several years? Given the 150% increase in mortgage fraud complaints made to the Federal Bureau of Investigations in the past fiscal year, chances are if your losses have not been significant to date, they soon will be. Are you armed with the most up-to-date and effective strategies, techniques and policies to prevent and fight fraud?

ACI's Strategies for Preventing, Detecting & Resolving Mortgage Fraud publication will provide you with a full understanding of the steps you need to take immediately to implement best practices throughout your department to minimize your risk of fraud loss. Learn how to:
  • Detect property flipping, straw buyer schemes, loan churning and mortgage elimination schemes before they occur
  • Minimize the risk of originating fraudulent loans
  • Use bad player lists to prevent fraud and avoid the new wave of defamation, libel and slander lawsuits against lenders
  • Effectively validate a social security number without wasting time
  • Identify deep pockets that will provide appropriate recovery when resolving fraud cases

Contents & Contributors

About


Do you have the systems and lending practices in place to make your company one of the 2% of mortgage lenders that do not suffer losses from mortgage fraud?

How much of the estimated $48 billion in losses did your business suffer due to mortgage fraud over the past several years? Given the 150% increase in mortgage fraud complaints made to the Federal Bureau of Investigations in the past fiscal year, chances are if your losses have not been significant to date, they soon will be. Are you armed with the most up-to-date and effective strategies, techniques and policies to prevent and fight fraud?

ACI's Strategies for Preventing, Detecting & Resolving Mortgage Fraud publication will provide you with a full understanding of the steps you need to take immediately to implement best practices throughout your department to minimize your risk of fraud loss. Learn how to:
  • Detect property flipping, straw buyer schemes, loan churning and mortgage elimination schemes before they occur
  • Minimize the risk of originating fraudulent loans
  • Use bad player lists to prevent fraud and avoid the new wave of defamation, libel and slander lawsuits against lenders
  • Effectively validate a social security number without wasting time
  • Identify deep pockets that will provide appropriate recovery when resolving fraud cases

Contents & Contributors


IDENTIFYING MORTGAGE FRAUD SCHEMES
Peter L. Lublin, McCalla, Raymer, Padrick, Cobb, Nichols & Clark, LLC

MORTGAGE ELIMINATION SCHEMES
John S. Siamas, Reed Smith LLP

NEW INITIATIVES, LEGISLATION AND REGULATIONS THAT WILL ADVANCE YOUR ANTI-FRAUD EFFORTS
Cynthia L. Eldridge, U.S. Department of Justice

MORTGAGE FRAUD: THE CONSEQUENCES AND OUR COMMITMENT TO FIGHT BACK
Gale McKenzie, U.S. Department of Justice

CREATING AN EFFECTIVE PROGRAM OF MORTGAGE FRAUD DETECTION AND PREVENTION
Andrew L. Sandler, Skadden, Arps, Slate, Meagher & Flom LLP

PROACTIVE FRAUD PREVENTION POLICIES
Merle D. Sharick, Mortgage Asset Research Institute

PREVENTING AFFILIATE FRAUD
Ann Fulmer, Interthinx

IMPLEMENTING INFORMATION SHARING PRACTICES TO PREVENT EMPLOYEE AND AFFILIATE FRAUD
Jonathan D. Jaffe, Kirkpatrick and Lockhart, Nicholson & Graham

AN INDUSTRY PERSPECTIVE ON PREVENTING AND MITIGATING INTERNAL FRAUD
Mark G. Kasak, Option One Mortgage

DETECTING MORTGAGE FRAUD POST-APPROVAL: YOUR FRAUD PREVENTION SYSTEM FAILED… NOW WHAT?
Jacqueline A. Dreyer, LoanCert Division of the Prieston Group
Penny Paplanus, Mandalay Mortgage, LLC
Sally Smith, Bank of America

CIVIL LITIGATION: BOTH SIDES OF THE FENCE
Michael J. Brook, Lanahan & Reilley LLP

RESOLVING MORTGAGE FRAUD: WINNING LITIGATION STRATEGIES AND OTHER AVENUES OF RECOVERY
Donald C. Johnson, Countrywide Home Loans, Inc.

BEFORE YOU RACE TO THE COURTHOUSE AND THROW GOOD MONEY AFTER BAD
Loretta Salzano, Franzen & Salzano, P.C.

APPRAISAL BEST PRACTICES CAMPAIGN
Michael D. Mitchell, National Community Reinvestment Coalition

AML IN THE MORTGAGE INDUSTRY
Larry Ruder, Wells Fargo Home Morgage
Jamie L. Boucher, Skadden, Arps, Slate, Meagher & Flom LLP

FRAUD PREVENTION MEASURES AND TOOLS
Patricia Lindsay, New Century Mortgage Corp.

PRACTICAL SOLUTIONS TO CURB APPRAISAL FRAUD
D. Scott Murphy, D.S. Murphy & Associates, Inc.

CONSUMER FINANCE LITIGATION
Wesley Few, Neson Mullins Riley & Scarborough, LLP



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