mortgage applications

Mortgage Applications Plummet To 22-Year Low

Mortgage Applications Plummet To 22-Year Low As Home Sales Drop 14% From A Year Ago.  Mortgage applications have hit a 22-year low demand for homes is drying up. This is due to raising interest rates soar and plunging home sales. The lending industry is pointing the finger at the Federal Reserve‘s interest rate hikes. The […]

uniform residential loan application

Uniform Residential Loan Applications Will Be Updated In 2020

Fannie Mae And Freddie Mac Will Update Uniform Residential Loan Applications In November 2020 The Federal Housing Finance Agency announced three years ago that they were changing the Uniform Residential Loan Applications used by the lending industry. It will the first change in 20 years. The GSEs later dictated that lenders would be required to […]

Top 40 Fake Employers Used On Fraudulent Loan Applications

Fannie Mae Releases The Top 40 Fake Employers Used On Fraudulent Loan Applications The number fraudulent mortgage applications submitted to lenders has skyrocketed. The fraud has moved beyond using exaggerated income. Fraudsters are now using fake employers. Thus, the number of fake employers has also skyrocketed.  As a result, Fannie Mae has issued a warning to lenders because the […]

mortgage application fraud

Mortgage Application Fraud Skyrocketing By Double Digits

Core Logic Says Mortgage Application Fraud Has Skyrocketed By 12.4% In the Past Year  Core Logic has issued their new Mortgage Fraud Report and it’s not looking good. The report states there has been a 12.4% increase in mortgage application fraud since the second quarter of 2017. This is the highest increase in seven years according to […]

mortgage shotgunning

Mortgage Shotgunning Scheme Sends Real Estate Broker To Prison

Real Estate Broker Sentenced to Prison for Role in Defrauding Banks in $3.5 Million Mortgage Shotgunning Scheme New York real estate broker Michael Arroyo and a Bergen County homeowner Rafael Popoteur are going to prison. The court sentenced the pair for their respective roles in a $3.5 million mortgage shotgunning scheme. Arroyo and Popoteur used […]

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