Incidents of mortgage fraud have continued to increase over the last year, a sign that scammers are still targeting the industry despite more diligent efforts to find and report it. Are your fraud prevention policies keeping pace with the market realities?
Mortgage fraud has cost the industry nearly billions in the last decade and the numbers of fraud cases continues to climb with no indication of slowing down. Fraudsters and scammers have taken advantage of the downturn in the economy and have resurfaced with new schemes to defraud consumers. The nature of mortgage fraud continues to evolve and the ever growing rate of previously undetected fraud will continue to impact the nation’s foreclosure problem. Plus, a sweeping overhaul of U.S. financial regulations is here (partly in response to mortgage-lending abuses) and federal and state enforcement agencies are stepping up the regulations around mortgages in an effort to mitigate fraud.
Recent statistics may not even capture the full impact of mortgage fraud on the market since fraud often isn’t detected until loans go bad. Lenders need to be more focused than ever on prevention and detection. Given the instability of the mortgage banking industry and the increasing sophistica-tion of the fraud schemes, it is crucial that you keep your prevention and detection practices in top shape.
ACI’s 6th National Forum on Preventing, Detecting, and Resolving Mortgage Fraud is designed to provide a forum for those responsible for blocking mortgage fraud to exchange best practices for working with the government in their enforcement efforts. It features faculty from OIG, HUD, OTS, Eastern District of Pennsylvania, New York State Banking Department, U.S. Department of Treasury, FinCEN, First American Title Insurance, Fitch Ratings, FNC, Genworth Financial, Flagstar, Elite Investigations, and many others. Take advantage of this opportunity to network with industry leaders and learn from others facing the same challenges in this turbulent environment.
Enhance your conference experience by also registering for the Post-Conference Master Class:
Conducting a Self-Assessment of Your Fraud Prevention and Detection Program - October 29, 2010; 2:00 p.m. – 4:00 p.m.
Register now by calling 1-888-224-2480, faxing your registration form to 1-877-927-1563, or going online at www.americanconference.com/MortgageFraud
Conference Details
