home mortgage fraud newsletter full stories advertise mortgage industry newsletter RSS about us
 
HOT Topics Fraud Resources Fraud Prevention Mortgage Litigation News Appraisal News
 
 
twitter linkedin
facebook google+
Mortgage News

Search
Search mortgage fraud news by keyword.

Mortgage Fraud News
News, analysis and statistics about mortgage fraud.

Local Mortgage Fraud
Stories about individual mortgage crime cases.

Mortgage Fraud Statistics
Statics by year about real estate fraud.

Mortgage Fraud Index
Quarterly index based on case activity.

Mortgage Advertising
Reach mortgage executives, loan originators and other people tied to mortgage industry.

Consumer Mortgage News
Free mortgage news for prospective borrowers.

Mortgage Newsletter
Free e-mail newsletter with the latest headlines from MortgageDaily.com.

Mortgage Fraud Feedget RSS code
The latest case activity tracked by FraudBlogger.com for your Web site or for your RSS reader.

Mortgage Fraud Archives
Archive of FraudBlogger.com entries going back to 2005.

 

PRESS RELEASE


Mortgage Industry Working Group Forming to Prevent Fraud

Industry Working Group Invites Companies to Join Development Efforts for National Fraud Prevention Database - Entities that fund, service or invest in mortgages are eligible.


 
WASHINGTON, D.C. - (September 12, 2007) - An Industry Working Group made up of Fannie Mae and Freddie Mac along with several of the largest residential mortgage lenders are working toward the development and implementation of a national mortgage fraud prevention database. The Industry Working Group is today publicly inviting additional entities that fund, service or invest in mortgages to join in the development of the database.

In June, The Working Group, which for administrative convenience has been working through Lender Technologies Corporation, a subsidiary of the Mortgage Bankers Association, requested information to determine the availability of contractors that have the experience, expertise and staffing to build, deploy and operate such a database. To facilitate the prompt completion and issuance of a Request for Proposal (RFP), interested parties must respond to this invitation within 14 days, i.e. Wednesday, September 26, 2007. After that time, the Industry Working Group will be closed.

The primary focus of this project is to develop a database and process to facilitate the sharing of key data that will help identify and stop fraud against mortgage lenders before a loan is funded. The project described in the Request for Information (RFI) presents a very powerful opportunity for the mortgage industry to prevent perpetrators of fraud from harming honest homeowners and others with a financial stake in mortgages. Members of the Industry Working Group will guide decision-making on standards for the submission of data, the rules for disseminating data, organizing an entity to hold the database, development of criteria for vendor selection, etc.

Interested parties must commit to comply with existing membership rules, including consistent attendance at Working Group meetings and payment of a pro rata share of ongoing legal and other operational costs. New members also must agree to pay an upfront fee of $7,500 reflecting expenses incurred to date by current Industry Working Group members.

Interested parties must contact Phyllis Slesinger at pslesinger@mortgagebankers.org or 202-557-2700 by Wednesday, September 26, 2007.



SOURCE: The Mortgage Bankers Association
 
Mortgage Fraud Litigation

Q4-2012 | Q3-2012
Q2-2012 | Q1-2012

Q4-2011 | Q3-2011
Q2-2011 | Q1-2011

Q4-2010 | Q3-2010
Q2-2010 | Q1-2010

Q4-2009 | Q3-2009
Q2-2009 | Q1-2009

Q4-2008 | Q3-2008
Q2-2008 | Q1-2008

full-year 2007
Red Flags Rule
News about the Fair and Accurate Credit Transaction Act.
Analysis of Fraud Enforcement and Recovery Act
The Mortgage Graveyard
Reverse Mortgage Blog
Mortgage Compliance Newsletter
Free compliance newsletter from MortgageDaily.com.



Copyright © 2014 MortgageDaily.com
MortgageDaily.com Subscribers Only:

AMC directory

ARM indexes

mortgage company directory

mortgage regulations

net branch directory

pricing engine directory

wholesale lender directory

More Mortgage News Resources (MortgageDaily.com full site map):

advertising news

appraisal news

bank news

biggest lenders

commercial mortgage news

corporate mortgage news

credit news

FHA news

financial regulation news

foreclosure news

free mortgage news

GSE news

jumbo mortgage news

interest rates

loan modification news

loan officer compensation rule

loan originator compensation rule

MBS

mortgage associations

mortgage-backed securities

mortgage books

mortgage brokers

mortgage compliance

mortgage conferences

mortgage directories

mortgage education

mortgage employment

mortgage employment index

mortgage executives

mortgage fraud

mortgage fraud blog

Mortgage Fraud Index

Mortgage Graveyard

mortgage insurance news

mortgage lawsuits

mortgage leads

mortgage lender ranking

mortgage licenses

mortgage litigation

Mortgage Litigation Index

Mortgage Market Index

mortgage mergers

mortgage news

mortgage politics

mortgage press releases

mortgage production

mortgage public relations

mortgage rates

mortgage servicing

mortgage statistics

mortgage technology

mortgage video

mortgage Webinars

net branch

net branch directory

nonprime news

origination news

originator tools

sales blog

reverse mortgage news

secondary marketing

servicing news

subprime news

wholesale lenders

wireless mortgage news