Learn how to minimize exposure while maximizing revenue and profits in this eye-opening course. Fraud Detection and Deterrence is designed to alert participants in real estate transactions to unethical and fraud-related activities in mortgage banking and provide guidance in minimizing exposure. Learn about the impact and ramifications of fraud in the mortgage lending business; the indicators of potential fraud in the mortgage loan origination process; the resources available to detect and investigate fraud in the mortgage loan origination process; the best practices for ethical conduct in mortgage lending; and how to recognize methods for preventing fraud.
Course Outline:
Lesson 1 - Loan Fraud Basics
- Overview of Fraud
- Fraud Schemes
- Payback Schemes
- No-Payback Schemes
Lesson 2 - Qualifying a Loan Applicant - Assets and Income
- Funds Analysis
- Income Analysis
- Salary Income
- Nonsalary Income
Lesson 3 - Credit Analysis
- Credit History
- Analyzing Credit Information
- Identity Theft
Lesson 4 - Appraisal Review
- Fraud and Appraised Value
- Guidelines
- Market Value Analysis
- Unacceptable Appraisal Practices
Lesson 5 - Ethics in Mortgage Lending
- Ethics: The Golden Rule
- Ethics in Business
- Code of Ethics
- Conflicts of Interest
- Sample Codes of Conduct
- Case Studies
Course Credit:
Completion of this course earns five points toward MBA's Certified Mortgage Banker (CMB), or Certified Mortgage Technologist (CMT) designations. This course also earns five points towards MBA's Residential Loan Production or Quality Assurance (CQAP Level I) Achievement Certificate programs, or the Residential Underwriter (CRU Level II) Professional Certificate. |