I wish I could stop the fraud talk, but fraud hasn’t stopped.
This is prompted by a meeting today, with our mortage attorney. Kathleen and I are open for business now, our top loan officers from the past are back.
The purpose of the meeting was to make sure we are doing all we can do in compliance etc. A one and half hour interview was 60% about fraud prevention. We went through scenario after scenario of what is the latest borrower and loan officer scam in the marketplace.
Such a pity. The good news, is the fraudsters are being reeled in. The entire industry is after it. No more ignoring it. Almost every bank we are contracting with is requiring us to sign a zero fraud tolerance policy. If we ignore fraud our entire net worth is on the line.
Consumers, play games and commit fraud nowadays - plan on doing the jail house rock.
Larry Cragun
It’s great to see things heading in the right direction. I hope the fact that mortgage brokers are finally required to get licensed in Colorado will continue to move things in the right direction here. Thanks for the good work Larry. The more information that is out there, the better we will all be.
Thank you Chad