Tag: Misrepresentation

Freddie Mac News – True Lies – Suspiciously Similar Paystubs – Dated September 16, 2019

Written by: Lloyd Rutherford, Staff Writer Rule Synopsis: Freddie Mac issues their third edition of “True Lies”, which focuses on uncovering and exposing various schemes across the country that lead to closed loans, putting the lender and many other industry participants at risk. This edition exposes loans approved with “Suspiciously Similar Paystubs”. Interpretive Comments: Can […]

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Freddie Mac – Fraud Alert – Phantom Employers

Written by: Lloyd Rutherford, Staff Writer When the bad apples commit fraud, it causes the rest of us to suffer with more rules, additional scrutiny, and borrowers who tell us we ask for too much information. Read this article about the latest fraud issue uncovered by Freddie Mac. Rule Synopsis: Freddie Mac issues their second […]

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Freddie Mac News – True Lies – Falsified College Transcripts – Dated May 2019

Written by: Lloyd Rutherford, Staff Writer Fraud causes the rest of us to have more rules and headaches.  In this article, Freddie Mac has started a fraud awareness campaign by exposing what they find and how they find fraud. Rule Synopsis: Freddie Mac has started a new series called “True Lies”, which focuses on uncovering […]

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Fannie Mae-DU Potential Red Flag Message Matrix-Dated June 2018-Misrepresentation of Borrower Employment Scheme-Dated May 2018

By: Lloyd Rutherford, Staff Writer One of the worst feelings is to work hard to originate a loan, structure the deal, plan on how you will spend your commission, and then find out in QC review the file is fraudulent in some way.  Fannie Mae helps you pick up “Red Flags” with this update.  This […]

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