Mitigating Potential Fraud in Your Organization
Course Number: ABA
Course Code: ABA
A detailed look at mortgage fraud characteristics, the ways individuals or groups perpetrate fraud in a mortgage transaction, and strategies for MLOs to detect and reduce mortgage fraud. The course includes an overview of U.S. mortgage fraud statistics, including prevalence, trends and geographic risk indicators, as well as fraud reporting requirements, including when ad how to file reports through a Suspicious Activity Report (SAR), and the laws that affect controls and compliance measures that lenders and loan origination organizations must have in place.
Produced by Ellie Mae/ AllRegs®
What You’ll Learn
After successfully completing this course, you will be able to:
- List key characteristics of mortgage fraud
- Describe common mortgage fraud schemes
- List the requirements for reporting mortgage fraud
- Summarize the process for reporting mortgage fraud
- Explain strategies to manage fraud risks
Audience: Lending operations staff, including: Loan Originators, Underwriters, Processors.