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The Big Story: Mortgage Fraud
Most brokers think it could never happen to them. But mortgage fraud is still a problem. Not anymore with brokers than with banks, but a recent report put the cost of mortgage fraud at $400 million, a number everyone should be concerned with. For brokers, preventing fraud comes down to “knowing your client”. Education is also key in knowing what to look for when putting a deal together. This week we spoke to Ray Leclair, VP, public affairs for LAWPRO (TitlePlus), Lee Welbanks of The Mortgage Centre and Bill Eves, Wayne Sudsbury and Grant Brown of Homeguard Funding Ltd. (VERICO). Find out on today’s The Big Story, on MortgageBrokerNews.ca TV, your home for industry news, opinion and analysis.