Freddie Mac alerts real estate agents to rising short sale fraud

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is a more sophisticated version of mortgage fraud because it involves real estate agents, appraisers, lenders, and closing agents or attorneys. Some examples of fraud for profit include flipping, straw buyers, bogus sales, inflated appraisals, and air loans.

NEW YORK (CNNMoney) — Just as the housing market began to collapse near the end of 2007, a real estate agent in Bridgeport, Conn. asked Regions Bank if it would accept a $102,375 bid on a home.

CFPB: Changes to TRID coming soon Fitch Warns on Option ARMs; High Defaults Await  · Feb 7, 2007 – – The Committee will please come to order. Today’s hearing is entitled Preserving the American Dream: Predatory Lending Practices and Home Foreclosures. This hearing is.Households likely to deleverage debt with underwater mortgage defaults: report pending home sales rise for 15th straight month A "pending home sale" is a home under contract to sell, but not yet closed. The forward-looking Pending Home Sales Index is up 11 percent from its low of the year, according to the National Association of REALTORS, and well ahead of its rolling 6-month average.This type of scenario is more likely to occur when the defaulted. is a huge difference between trying to settle a defaulted second mortgage with the original lender and an extremely aggressive debt.Uncategorized Consumers Confused by TRID’s Fee Disclosure by Punctual Abstract. The primary goals that the consumer financial protection bureau (cfpb) had for the TILA-RESPA Integrated Disclosure (TRID) were to make the process of getting a mortgage easier and help consumers better understand the key features, costs, and risks of obtaining a loan.NAR: Pending home sales up 10.3% from last year Fed votes to continue taper, lowers growth expectations Initially, when the Fed didn’t taper in September, Wall Street analysts and economists quickly coalesced around the view that it would probably do so in December. Then, when the economic effects of.This chart shows how to build a down payment fast Obama to renew push for wider mortgage refinance plan Obama’s State of the Union Reveals Little About Mortgage Plan Posted on January 25th, 2012 So amid all the endless clapping and standing ovations, Obama did manage to get a few words out about the prospective mass mortgage refinancing plan during his State of the Union address last night.Breaching those could make. down the debt service payments to give a little more room. The modified leases with reduced rent have shorter terms so after a few years there will be the opportunity to.According to the NAR report, existing home sales fell in December by 3.6% to a. Three years of contracting inventory was bound to catch up with. existing homes available for sale, and is now 10.3% below one year ago.

Now let’s look at what Freddie Mac’s "opinion" of how fraud is enacted. A seller (delinquent borrower) owes $100,000 on a property that is worth $80,000. Hmmm..I wonder how that value is obtained. Oh yeah it’s by a lender designated real estate agent who gets a few bucks for giving a BPO. No investor representations here.

Freddie Mac alerts real estate agents to rising short sale fraud Short Sale Fraud Fears Grow as HAFA Gets Set to Pop Jon Prior was a reporter with HousingWire through late 2012.

Short sale fraud has become the top priority for Freddie Mac’s fraud investigation unit, according to Shelley Poland, single-family chief credit officer. She says the GSE is working with agents and others in the field to identify real estate professionals who rig sales and hide higher offers from Freddie Mac and the seller in order to turn.