- Jan 20, 2002
- Professional Status
- Certified Residential Appraiser
Falsification of Loan Applications have been going on for as long as I can remember, and FHA hasn't been able to do anything about it yet. I remember several Real Estate Brokers being charged with creating false employment data 35 years ago. All these scams didn't just pop up yesterday.There's a flip side to these type of stories which nobody ever wants to address because it's not politically correct. The FHA is being ripped-off
by all the participants in the program including the BUYERS ! In one specific case in my area the buyers submited phony employment verifications, etc. Their excuse was that the builder told them to - give me a break. The buyers are just as guilty as the mortgage brokers, lenders, real estate agents, builders, appraisers, and inept adminstators at FHA. SHUT IT DOWN AND SAVE THE TAXPAYERS BILLIONS.