Mortgage fraud by borrowers, brokers and lenders is becoming more prevalent and you could be unknowingly committing it on your next loan.
So I recently got an email from a person calling himself a Certified Public Accountant desiring to debate the efficacy of the supposed “no cost” mortgage made popular by the ubiquitous advertising propogated primarily by…
A Good Faith Estimate is a legally required mortgage document showing costs, rate, and payment. Believing the Good Faith Estimate reflects truthful, accurate, and guaranteed figures is folly.
Nothing could be further from the truth.…
The mortgage application deposit scam is a long running scam. The idea is to get your mortgage application and the accompanying deposit at all costs!
Saying or doing virtually anything to get your signature on…
The servicing mortgage company is the company to whom you make your payments. The servicing mortgage banks prey on your erroneous belief you can save time and money refinancing with them.
Refinancing with your current…
Never use a real estate referral from a real estate agent to locate your mortgage company as you may find yourself the victim of a common con game. Real estate referral cons can cost you…
Mortgage originators tell you your mortgage lock is in force when it is NOT. Lying about your mortgage lock status is a common practice to increase loan revenue or cover loan officer mistakes.
Loan officers…
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