what should I do if I suspect a home several blocks from mine was involved in a mortgage fraud?

Asked by Sara Scott, Beverly Hills, CA Mon Oct 1, 2007

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Ute Ferdig -…, Agent, New Castle, DE
Mon Oct 1, 2007
Hi Sara. You have already received some very good information and I would like to just add one word of caution. If you have reason to suspect mortgage fraud, use one of tools suggested to report your suspicions to the official agency in charge of investigating the claim. Do not talk to others who might then repeat your suspicions to others and spread rumors. When you allege fraud and it turns out not to be fraud, you can get into trouble for defamation or libel. That's why they have ways to report it. Once you have made the report, leave it up to the agency to which you made the report, to investigate.
Web Reference:  http://www.go2kw.com
1 vote
Debra Drummo…, , Plymouth, MI
Fri Dec 14, 2007
Hi Sara,

From MortgageNewsDaily.com, here's their "quick ‘rule-of-thumb’ on who to contact: If you suspect you are a victim of mortgage fraud, contact the local FBI office; if you suspect or need to report predatory lending practices or other abusive-types of lending, contact your state Attorney General’s office; if you suspect or need to report mortgage scams by a real estate broker or appraiser, contact the state’s real estate licensing board or appraisal licensing board. The Better Business Bureau is also an excellent resource if you think you are a victim of fraud. These and many other sources of help are listed below."


And, here's a link to several resources regarding reporting frauds or all types in Michigan:

Web Reference:  http://MichiganMoves.com
0 votes
Maureen Fran…, Agent, Birmingham, MI
Mon Oct 1, 2007

The FBI investigates mortgage fraud. They are very active here in SE Michigan unfortunately. People have the perception that this is just a problem in certain areas, but no area is exempt from mortgage fraud right now. Unfortunately, those homes turn into foreclosures and impact the neighbors. You are doing the right thing by reporting it.
Web Reference:  http://mibirmingham.com
0 votes
Nicole Sleeva, , Novi, MI
Mon Oct 1, 2007
Hi Sara - Thanks for your concern. Mortgage fraud is a big part of the foreclosure problem here in Michigan. I would start by contacting the State of Michigan's Office of Financial and Insurance Services. Their phone number is: (877) 999-6442 or email: ofis-fin-info@michigan.gov. Another resource would be the MIchigan FBI office: (313) 965-2323. Good luck!
Web Reference:  http://www.NicoleSleeva.com
0 votes
smith3gary, Agent, White Lake, MI
Mon Oct 1, 2007
Sara, Your answer is on this brochure
0 votes
Cj, , Esp., New Mexico
Mon Oct 1, 2007
The government provides methods by which you can recognize and report mortgage fraud, to find out more on mortgage fraud and how to report it you might want to visit these sites
Mortgage Loan Fraud a report http://www.fincen.gov/MortgageLoanFraud.pdf
Predatory Lending information from ABA: http://www.aba.com/Consumer+Connection/CNC_pred1.htm
Preventing, Detecting and reporting mortgage loan fraud
Good luck
0 votes
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