Fannie Mae has issued an alert to warn lenders against a potential mortgage fraud scheme involving the use of fictitious employers by borrowers in their loan applications. Fannie Mae’s Mortgage Fraud Program identified 34 entities and businesses in Los Angeles County, California, that borrowers listed at their purported places of employment. However, Fannie Mae said it could not confirm their existence.
Fannie Mae Warns Against Fake Employers in Loan Applications
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