Mortgage Fraud Series #7

I received another call just yesterday from a Bradenton, Florida homeowner who was the victim of mortgage fraud.  Since beginning this series of posts about mortgage fraud I have been contacted by several Realtors, mortgage brokers, and attorneys who are helping victims right now.  The problem of mortgage fraud seems to be growing in conjunction with the struggling housing market. 

If you are a homeowner or borrower who suspect that you may have been the victim of mortgage fraud help is available.  Even if you were not victimized, but were approached with an illegal scheme you should report it as soon as possible.  Private organizations, state and national agencies are available to help.

To begin with you need to understand who to contact.

1. If you suspect that you have been the victim of mortgage fraud contact the local FBI office.
2. If you suspect predatory lending practices contact the state attorney General’s office.
3. If you suspect wrong doing by a mortgage broker, real estate broker, or appraiser - contact the applicable state licensing board.

Here are some, but not all, of agencies and resources available to the public.

• The Federal Bureau of Investigation (FBI)
  http://www.fbi.gov/
  (202) 324-3000 - National FBI Financial Institution Fraud Unit
  The FBI investigates mortgage fraud, and the professionals involved in the scams: bank loan officers, realtors, appraisers, and mortgage brokers. These individuals may profit through various illegal commissions, fictitious sales and fees - often on loans that aren’t genuine. To report mortgage fraud with the FBI, contact the Field Division for your state.
• The Federal Trade Commission (FTC)
  http://www.ftc.gov/ and www.consumer.gov/idtheft
  Toll Free Phone: (877) 438-4338 - Identity Theft Clearinghouse
  Consumer Response Center: (877) 382-4357
  The Federal Trade Commission investigates mortgage fraud. It is especially active regarding homeowner and mortgage ‘identity theft.’ Filing with the FTC helps put the Con-Artists out of business.
• Office of the Comptroller of the Currency (OCC)
  To report fraud or register a complaint about a national bank.
  http://www.occ.treas.gov/customer.htm
  Phone: (800) 613-6743
  The OCC charters, regulates and supervises over 2,500 national banks.
• Office of Thrift Supervision (OTS)
  Consumer Affairs
  http://www.ots.treas.gov/resultsort.cfm?catNumber=88&dl=17&edit=1
  Phone: (202) 906-6000
  Phone: (800) 842-6929 - for consumer complaints
  The Office of Thrift Supervision, a bureau of the U.S. Department of the Treasury, regulates all federally chartered and some state-chartered thrift institutions. This includes savings and loan associations and savings banks. The OTS has regional offices in all states, divided into four regions. To report mortgage fraud or mortgage scams that pertain to a savings & loan association or savings bank, see the contact information listed under each state.
• State Chartered Credit Unions
  http://www.ncua.gov/ConsumerInformation/Consumer%20Complaints/statechartered.htm
  Each state supervises the Credit Unions that it charters, with a few exceptions. To report mortgage fraud or mortgage scams that pertain to a state credit union, see the contact information listed under each state.
• The National Association of Attorneys General
  http://www.naag.org/issues/issue-consumer.php
  Phone: (202) 326-6000
  Fax: (202) 408-7014 The role of the Attorney General in each state is to protect and serve the citizens. The office of the Attorney General provides legal representation for the State and its various agencies, in behalf of the public interest. However, the Attorney General’s Office may not perform legal advice for consumers or represent them. These offices do want you to report mortgage fraud, predatory lending practices, and mortgage scams to them. Almost all Attorney General Offices provide consumer complaint forms on their web sites to make reporting mortgage scams and fraud easier.
• The Office for Victims of Crime (OVC)
  http://www.ojp.gov/ovc/publications/welcome.html
  The Office for Victims of Crime publishes literature on various victim situations, such as identity theft. Brochures can be obtained online, along with information on federal grant programs to obtain financial assistance if you are a crime victim.
• National Fraud Information Center
  http://www.fraud.org/
  The National Fraud Information Center is a project of the National Consumers League. It focuses mainly on fraud against the elderly, and internet and telemarketing fraud - all sources of mortgage fraud and mortgage scams.

For additional resources please see this website: Report Mortgage Fraud and Identity Theft

(Copyright © 2007 By Dan Forbes, All Rights Reserved.)

Please contact me, Dan Forbes, or call with questions about our Bradenton, Florida real estate market at 941-746-0505; toll free 877-646-8326.  Visit BradentonFloridaRealEstate.Com  

This entry was posted on Thursday, November 15th, 2007 at 8:20 am and is filed under Mortgage Fraud. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.