Mortgage fraud is a pervasive issue that costs financial institutions billions of dollars.1 Nearly 1 in 120 mortgage applications contain fraud2, and unfortunately, most lenders only discover that fraud has happened after a borrower has defaulted on their loan. As a mortgage lender, you need to develop a keen eye for the red flags of mortgage fraud. It’s believed that … Read More
This is a crowdsourced article. Contributors are not necessarily affiliated with this website and their statements do not necessarily reflect the opinion of this website, other people, businesses, or other contributors. Accurate property values are vital to mortgage brokers and real estate investors, who must make pivotal decisions based on the reported value of a house or land parcel. … Read More
This is a crowdsourced article. Contributors are not necessarily affiliated with this website and their statements do not necessarily reflect the opinion of this website, other people, businesses, or other contributors. Whenever money is involved, there is a good chance that someone will try to obtain it by fraudulent means. Mortgage lenders rely on credit checks, employment verification, along with … Read More
Ask any elementary student how many apples Jane can buy if Jane has $10 and apples cost $2 each, and they will be able to tell you. Then, ask them what a credit card is, and they will either look at you blankly or reply, “An endless money card?” Unfortunately, ten years later, that same person will know much more … Read More
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In our modern financial system, having a high credit score opens many doors. It can help you qualify for lower interest rates, larger loans, cheaper insurance, apartments, and even certain jobs. Despite the societal significance of a credit score, its role in financial wellness is rarely taught in school. In turn, many credit misconceptions have been able to spread, confusing … Read More
