Jerome Mayne, a former mortgage professional who was involved in mortgage fraud, has partnered with Sysdome to help spread fraud awareness within the mortgage industry.

Sysdome is a Web-based, high-speed technology provider specializing in fraud prevention and audit support tools for the mortgage industry. Mayne will be speaking his personal testimony during training at mortgage companies and industry conferences.

Mayne, now often described as “the mortgage industry’s Frank Abagnale,” was convicted and received a 21-month sentence for conspiracy to commit mail and wire fraud while engaged in a wide-scale property-flipping scheme. He provides a walking cautionary tale of how proactive brokers can, and often do, drift toward fraud too easily.

Now partnering with Sysdome, Mayne combines his story of mortgage crime and punishment with practical training to provide solutions designed to help lenders recognize the signs of fraud. Curriculum includes: defining fraud, anatomy of property flips, how to recognize straw buyers, loan file red flags and real world case studies where strategic technology would have prevented fraud.

Sysdome finds that providing Mayne’s personal example and consequences in concert with fraud prevention education creates long-term retention among lending professionals.

With Mayne, Sysdome demonstrates the effects of industry fraud and defines a window of preventative maintenance for lenders. Mayne’s targeted message remains invaluable to lenders seeking to deter criminal activity, primarily because the FBI’s recent House testimony said that industry insiders account for 80 percent of all current mortgage fraud. The FBI defined industry insiders as appraisers, accountants, attorneys, real estate brokers, mortgage underwriters and processors, settlement/title company employees, brokers and loan originators.

“While lenders look to predict risk, there’s one variable they can’t predict–the human element, and exactly when insiders decide to commit fraud,” said Jerome Mayne, of Fraudcon. “Had tools like Sysdome’s fraud software been available when I committed fraud, those loans would have never made it to underwriting.


Send tips or a Letter to the Editor to or call (510) 658-9252, ext. 133.

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