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Mortgage fraud seminars

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Tucson Appraisals

Thread Starter
Junior Member
Joined
Apr 12, 2007
Professional Status
Certified Residential Appraiser
State
Arizona
Why are not loan officers being solicited for Mortgage fraud seminars? Their bosses (the broker) should require them to take these things!

I have been solicited to two different ones in a manner of a couple of months, and can't help to get the feeling that appraisers are the only ones attending these things and are targeted as the only ones that are the problem to mortgage fraud!
 

Brockway

Junior Member
Joined
Mar 8, 2004
Professional Status
Certified Residential Appraiser
State
New York
Actually, I just spoke with an LO from a large national bank who attended the fraud seminar in Las Vegas. She said it was very enlightening and was happy that she went. Hopefully, other banks and mortgage companies will follow suit.
 

Tucson Appraisals

Thread Starter
Junior Member
Joined
Apr 12, 2007
Professional Status
Certified Residential Appraiser
State
Arizona
Actually, I just spoke with an LO from a large national bank who attended the fraud seminar in Las Vegas. She said it was very enlightening and was happy that she went. Hopefully, other banks and mortgage companies will follow suit.

I wish there was a way on a big scale to solicate these brokerage companies to attend!
 

Karl

Elite Member
Joined
Jan 15, 2002
Professional Status
Licensed Appraiser
State
Arizona
Don't forget the Fraud class in Tuscon that was put on by First Magnus, On a Wednesday MANDATORY that every employee of First Magnus attend by the way, & that night at 6PM they were shut down because they couldn't cover the Fraudulant loans they'd made. The E-Mail went out at 2:30 AM that NO ONE was to report to work Thursday. Last I knew the employees are still waiting for thier finale check. That might scare few from putting one on. Another company in Tucson was going to do one but they have found themselves with a seriouis problem. Here in Pinal County I TRIED to get one put together BUT most said they have A Mortgage Broker that will do free classes on Mortgage Fraud!! I am definately waiting for a Mortgage Broker to give a fraud class. I will be there, for sure!!
 

Kevin Mc

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Jun 7, 2004
Professional Status
Certified Residential Appraiser
State
New York
I don't understand.

I wish there was a way on a big scale to solicate these brokerage companies to attend!

why would they want to attend a seminar that discects the way many of them do business? I realize that is a broadbrush statement but it would seem to me the honest ones do not commit fraud and the ones who could use the seminars have no interest in cleaning up their act.
 

Karl

Elite Member
Joined
Jan 15, 2002
Professional Status
Licensed Appraiser
State
Arizona
why would they want to attend a seminar that discects the way many of them do business? I realize that is a broadbrush statement but it would seem to me the honest ones do not commit fraud and the ones who could use the seminars have no interest in cleaning up their act.

When we had one in Phoenix a MB found his name on an indictment that was passed around. He never came back after lunch, hhhhhhmmmmm
 

Kevin Mc

Elite Member
Joined
Jun 7, 2004
Professional Status
Certified Residential Appraiser
State
New York
Wow.

When we had one in Phoenix a MB found his name on an indictment that was passed around. He never came back after lunch, hhhhhhmmmmm

thanks Karl, you just made my night...:rof:
 

Tucson Appraisals

Thread Starter
Junior Member
Joined
Apr 12, 2007
Professional Status
Certified Residential Appraiser
State
Arizona
why would they want to attend a seminar that discects the way many of them do business? I realize that is a broadbrush statement but it would seem to me the honest ones do not commit fraud and the ones who could use the seminars have no interest in cleaning up their act.

Then I sure wish the state made it madatory that all loan officers be license and if they want to keep their license they have to take it once a month...that would be soooo coool.
 

Mike Garrett RAA

Elite Member
Gold Supporting Member
Joined
Jan 14, 2002
Professional Status
Certified Residential Appraiser
State
Colorado
Should be mandatory they take the 15 hours USPAP class too.
 

Brad Ellis

Senior Member
Joined
Feb 7, 2006
Professional Status
Certified Residential Appraiser
State
California
I was at the fraud seminar in Vegas by the Mortgage Fraud Blog. It started on the last day of Valuation 2007.

There was another fraud seminar a few days before and will be another one there in December.

Two appraisers there- me and another guy. None at the other semainar. No idea of attendance for December obviously.

Add to that the hundreds of in-house sessions at major lenders and on Wall St. and I think you will find that there are more becoming educated on this than you may think- and not just appraisers.

Brad
 
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