Posted on: 14th Apr, 2009 02:35 pm
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Hi mtgfixit,
It is indeed a very good news that the Dept. of Justice is going to form a national level task force to counter the mortgage related frauds. Such a move is much needed, considering the number of frauds that is increasing by the day at an alarming rate.
It is indeed a very good news that the Dept. of Justice is going to form a national level task force to counter the mortgage related frauds. Such a move is much needed, considering the number of frauds that is increasing by the day at an alarming rate.
Hello Jenkin7,
It is great news!!!! Had this been in place sooner the market would not be as bad. You would think fraud would be decreasing in this market with all of the systems in place! We need to get rid of the bad LO's in our business!
It is great news!!!! Had this been in place sooner the market would not be as bad. You would think fraud would be decreasing in this market with all of the systems in place! We need to get rid of the bad LO's in our business!
unfortunately, fraud is all around us. look at the scam artists who began advertising to help people get their mortgages modified, charging exorbitant fees and not performing. look at the credit fixup shops that take people's money and don't deliver. look at all the signs on street corners saying "we buy houses," which give false hope to those on the verge of foreclosure.
if only the mortgage industry was rife with fraud, we'd be better off. but the fact is that there is fraud throughout the country, and the vast majority of the predators are taking advantage of ignorance. the biggest fight we have here, in my opinion, is overcoming the ignorance. it is essential that we not only continue to try to educate consumers, but that we be vigilant in trying to determine that those we attempt to help actually follow through.
if only the mortgage industry was rife with fraud, we'd be better off. but the fact is that there is fraud throughout the country, and the vast majority of the predators are taking advantage of ignorance. the biggest fight we have here, in my opinion, is overcoming the ignorance. it is essential that we not only continue to try to educate consumers, but that we be vigilant in trying to determine that those we attempt to help actually follow through.
