Industry NewsMortgage

Mortgage fraud up over time

Future-Proof: Navigate Threats, Seize Opportunities at ICNY 2018 | Jan 22-26 at the Marriott Marquis, Times Square, New York

SALT LAKE CITY–The request seemed simple enough: Look around the room and see whether anyone present had been in jail for mortgage fraud. About 80 people glanced around, fairly confident they didn't recognize anyone who would have done such a thing. Then Roger Fendelman, director of compliance for AppIntell and a panelist at a session here this week about mortgage fraud, asked Kevin Barnes to stand up. Barnes stood up from his seat in the front, giving the other attendees at the 2004 National Association of Mortgage Brokers convention a glimpse of a convicted felon. Barnes, who perpetrated $24 million in mortgage fraud, had blended in with the others in the room. He didn't say a word, but Fendelman's point was clear: You can't tell by looking at someone whether he or she has committed fraud. Fendelman, along with Bill Matthews, VP of Mortgage Asset Research, and Rebecca Walzak of RJB Walzak Consulting, led the group through a discussion about mortgage fraud and how to check loan...