Mortgage Fraud: Schemes, Red Flags, and Responses

Journal of Forensic & Investigative Accounting Vol. 6, Issue 2, July - December, 2014 225 Mortgage fraud : schemes , red flags , and Responses Nicole Stowell, , MBA Carl Pacini, , CPA Martina Schmidt, Kathryn Keller * Mortgage fraud has reached epidemic proportions in the United States. Mortgage fraud is a substantial drain on the economy as estimated annual losses from Mortgage fraud exceed $10 billion during the last four years (ACFE, 2013). Such fraud is an attractive playing field for white-collar criminals due to the many types of Mortgage fraud , its complexity, and the lack of effective government regulation and private sector self-policing. When Mortgage fraud occurs, one or more parties knowingly make deliberate misstatements, misrepresentations, or omissions during the Mortgage lending Mortgage fraud allows perpetrators to reap substantial profits through illicit activity that presents a relatively low risk of getting caught.

Mortgage Fraud: Schemes, Red Flags, and Responses Nicole Stowell, J.D., MBA Carl Pacini, Ph.D, CPA Martina Schmidt, Ph.D Kathryn Keller * Mortgage fraud has reached epidemic proportions in the United States. Mortgage fraud is a substantial drain on the U.S. economy as …

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  Response, Fraud, Schemes, Mortgage, Flag, Red flags, And response, Mortgage fraud

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