Wednesday, March 18, 2009
Technology is a great boon to mortgage fraudsters, experts at the Fraud Issues Conference said today. Digital manipulation is making is easy to create W-2s, pay stubs, verifications of deposit, canceled checks and fake IDs that look real. Computers are allowing criminals to forge appraisal licenses and identification documents. They then purchase form-filling software to complete their appraisals and start creating falsified documents. A red flag is raised when application is made to cover several investment properties under a single mortgage where all are appraised by the same appraiser. More to follow…
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