Industry must initiate anti-fraud action

Lender urges creation of national valuation registry

Get smarter. Grow your referral network at Inman Connect San Francisco
Limited seating still available, July 17-20

Fraud prevention in the mortgage industry requires licensing, simplification of the lending process and fewer exotic products, according to crime fighters and industry leaders.

But “there’s a danger to doing too much at one time,” says David McLaughlin, senior assistant attorney general for the state of Georgia, which has enacted a seminal anti-fraud law.