MortgagesUndressed

I believe the reason the MortgageFraudBlog was able to publish the statistic that mortgage fraud has increased 35% is that it has been prosecuted and reported more.

I have made it a point to befriend and gain the trust of underwriters. Trust is everything in business. It is a bigger thing in the mortgage business.

I have noted just how much underwriters hate fraud. They see so many files, and become expert at knowing the family or borrower, just by what they see in the file. They can tell who are honorable, they can see the flakes.

As intolerance has become the montra for fraud, everyone from underwriters to managers, to funders have become bolder about attacking fraud. Technology is assisting.

Lenders have various checks they can do, they can verify income by the IRS, they develop instincts.

The fraud was always there, people are just getting caught more regularly.