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Top three mortgage frauds and how to spot them

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Mortgage Broker News | 03 Oct 2012, 10:00 AM Agree 0
Mortgage fraudsters are upping their game in this soft market, and brokers need to remain vigilant to avoid getting caught in their web, according to industry experts, identifying the latest fraud indicators to look out for.
  • Andy | 04 Oct 2012, 05:03 AM Agree 0
    Then there’s the not so savvy attempted fraudsters: I had a client last month ask me if she could just “white out” the CRA balance owing on her NOA. I said “Well, I’m certain that you have the ability to do it, but if you send it to me I have to call the RCMP.” Then I fired her explaining that I would now have to treat all her supporting documents as questionable and that I just wasn’t prepared to continue our relationship if I couldn’t trust her AND I wasn’t prepared to put any of my lenders, and my very valuable lender relationships, at risk.

    All of us want to get paid, but if any of us ever gets even a whiff that something’s not right, the best thing to do is err on the side of caution and walk away because our hard-earned reputations are worth far more than any amount of money, and the hassles of an investigation would end up jamming up valuable time that could be better used to service HONEST clients.
  • John Dearin RPA,. AMP. | 04 Oct 2012, 08:09 PM Agree 0
    If Andy wants a job in NL, call, there is one waiting.
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