Fraud for shelter was the most common form of mortgage fraud, whereby an individual falsifies their own documents to qualify for a larger loan than they would otherwise be eligible for.
There has been a rise in mortgage fraud that is an actual title, where they impersonate the homeowner and sell the property without the real homeowner knowing.
Much of this was due to Covid whereby clients met virtually. Nobody met anybody in person, and that kind of brought on mortgage frauds, and title fraud by people signing documents virtually and nobody actually meeting anybody.” The quality of fraudulent ID has also made this fact a more concerning problem.
Post a comment