Thursday, April 27, 2006
Laughing and learning: a lethal combination to fight fraud
If it takes collaboration to commit fraud, it takes collaboration to foil fraud.
A number of industry professionals from around the country recently collaborated on a project that seems to be turning heads. Production of FSISM: Fraud Scheme Investigation was recently completed in Los Angeles. The project is now in post production and is scheduled to premiere this September at the MBAs Quality Assurance Conference in San Diego.
FSI is being touted as a first of its kind training tool, created in parody format and designed for maximum employee learning retention. The film focuses on the main characteristics and red flags behind a serious property flipping case and will provide DVD Chapters for training on other types of mortgage fraud scams and various red flags to watch for in a loan file.
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| Dennis Outlaw Analyzes the Evidence | Julie Woodley and Jeanne DeLormier Hard at Work | Rose Wolfe and Brooke Purdy Cool in a Crisis | Mike Stuckey Listens to his Instincts |
A number of mortgage professionals and experts donated their time and knowledge to the making of this free educational tool. Training is the key to heightening the mortgage industry’s awareness about the various mortgage fraud schemes. FSI will assist in providing training in a way that is not only entertaining and fun but presents the material in the seriousness it deserves, said Brenda Phillips. All of the people who worked on FSI deserve many thanks from our industry for making this type of training tool available to us.
Karen Pawlowski stated, The filming experience we have just finished completely exceeded my expectations in terms of the great opportunity provided to us as QC professionals on this exciting, value-packed project full of critical messages (both the dos and the do-nots!!) and some terrific humor and insights as well.
Additional information and DVD pre-ordering is available at www.FSIMovie.com
FSI is sponsored as an industry education service by Interthinx and was produced by RADAR Multimedia.
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mortgage fraud
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The U.S. Justice Department has formed more than 40 mortgage fraud task forces nationwide as prosecutors and investigators struggle with a flood of mortgage-related criminal cases. The FBI reports that its mortgage-fraud caseload has more than doubled in three years to about 1,600 investigations that have cost lenders at least $4 billion. About 200 FBI agents are assigned to the cases, up from 120 a year ago.
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Sarasota attorney John Yanchek is expected to plead guilty to mortgage fraud next week, statements from a federal prosecutor and the judge presiding over the high-profile criminal case seem to indicate.
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News Inferno
Two former Bear Stearns hedge fund executives are slated to go to trial in September over charges that they lied to investors about two of the funds they managed
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In a state that leads the nation in mortgage fraud, Tampa had the second most cases of suspicious loan activity of any Florida city, according to a report released this morning from the Reston, Va.-based Mortgage Asset Research Institute.
Mortgage Fraud Jumps by 45% on Fewer Loan Applications in U.S., Per... MARI
Cloud Computing Journal
Key findings from the MARI Quarterly Fraud Report include that fraud most often occurs at the beginning of the loan process. More than 65 percent of fraud incidents are attributed to "General Application Misrepresentation"
Seven Are Accused Of Identity Theft And Mortage Fraud
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Seven people have been arrested in connection with an international identity-theft scheme that targeted home equity lines of credit and siphoned at least $2.5 million away from dozens of banks, including more than 10 in New Jersey, according to documents unsealed today.
Suthers Cracks Down On Mortgage Fraud
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Suther’s office also indicted 10 individuals last March in an $11 million mortgage fraud ring involving 34 local properties...Several other investigations of mortgage fraud are ongoing.
Previous Articles
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Trial coverage provided by Anne Mitchell, Crazy Fish Realty.
U.S. v. Miller, et al.
Thursday, December, 18, 2008
Verdict:
F. Jeffrey Miller Guilty of Conspiracy and Money Laundering
Steven Vanatta Guilty of Conspiracy , Money Laundering and Bank Fraud
Hallie Irvin Guilty of Conspiracy , Money Laundering and Bank Fraud
Sandra Jo Harris Not guilty- all counts
More Trial Coverage
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Rachel Dollar is an attorney and Certified Mortgage Banker who handles fraud recovery litigation for lenders and secondary market investors nationwide. She is a nationally recognized speaker on the topic of mortgage fraud. Ms. Dollar is licensed to practice law in California and maintains offices in Santa Rosa, California. 
