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Add You - Lender Fraud - A Significant Factor in the Sub-Prime Lending Meltdown?
If you love living where you are now, then there is probably no need for you to move.However, after reading this chapter, you may start to develop itchy feet. The grass sometimes IS greener on the other side.What are the advantages of moving? Basically that depends on where you live now and on h
Now you may ask, "How can this be possible?" During the last year, with the number of transactions occurring declining many lenders relaxed their standards for bor
One of the best roads to wealth in America has always been the acclimation and development of good, solid, income-producing real estate. Real estate ownership is one of the best ways to achieve financial independence for the average person. But in order to be a successful real estate investor, you are must beco
The most common type of fraudulent transaction recently is the ISAC scheme (Inflated Sale and Crash). This type of scheme involves cash back at the time of closing to a third party. To accomplish this, the purchase price has been inflated 10 to 30% above market value. When this type of transaction has been perpetrated it is readily apparent, for example you'll see a property listed at $500,000 for several months then sold with a final purchase price of $600,000, with no down payment. The seller is paying the difference, in this case $100,000, to the buyer at closing.
Now you may ask, "How can this be possible?" During the last year, with the number of transactions occurring declining many lenders relaxed their standards for bor
Getting AheadThis is where the fun stuff finally hits!We get to talk about why our job is important to the DXSystem, and how that actually benefits us in terms of profits.Where we stand at presenta) Only those
The most common type of fraudulent transaction recently is the ISAC scheme (Inflated Sale and Crash). This type of scheme involves cash back at the time of closing to a third party. To accomplish this, the purchase price has been inflated 10 to 30% above market value. When this type of transaction has been perpetrated it is readily apparent, for example you'll see a property listed at $500,000 for several months then sold with a final purchase price of $600,000, with no down payment. The seller is paying the difference, in this case $100,000, to the buyer at closing.
Now you may ask, "How can this be possible?" During the last year, with the number of transactions occurring declining many lenders relaxed their standards for bor
Los Angeles is one of the biggest cities in the state of California. It has strict insurance laws to offer protection to the people at the time of a crisis. There are several types of insurance available to protect people from liabilities in accidents and mishaps. Though, some forms of insurance may be optional
Now you may ask, "How can this be possible?" During the last year, with the number of transactions occurring declining many lenders relaxed their standards for bor
Small and mid-sized law firms around the nation are faced with the proverbial question - what comes first the chicken or the egg? In the case of marketing, many firms are learning that marketing needs to come before client acquisition and investing in quality marketing is key. The competition among lawyers an
Now you may ask, "How can this be possible?" During the last year, with the number of transactions occurring declining many lenders relaxed their standards for bor
Finding the right person to fill the sales management role is a common quandary in wholesale distribution. It can be especially challenging when a decision is based strictly on sales territory performance without regard for the specific skill sets required to lead a sales force.. 2005 has been a good year in wh
Now you may ask, "How can this be possible?" During the last year, with the number of transactions occurring declining many lenders relaxed their standards for borrowers (no secondary review of appraisal). This created an ideal environment in which these fraudulent transactions could thrive, since the key to these schemes is the appraisal. Every one of these sales required a fraudulently inflated appraisal.
Federal and state investigators have been overwhelmed during the last 15 months due to the sheer number of these types of transactions. The primary parties involved in these fraudulent sales are the selling agent, the appraiser, the buyer, and a third-party through whom the money is funneled. All of which will be subject to prosecution. In this type of investigation the listing agent and seller are also typically considered co-conspirators.
When a transaction of this type closes, the buyer has
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