Course length: Approximately 30 minutes
Mitigating Potential Fraud in Your Organization provides managers with 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. This course presents an overview of mortgage fraud statistics in the United States, including prevalence, trends, and geographic risk indicators. Learners will cover details of mortgage fraud characteristics, fraud motivators, and common fraud schemes. This course also covers fraud reporting requirements as dictated by law, including when and 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. Finally, this course presents tools and strategies that managers can implement to prevent fraud, along with best practices to manage risk in their organizations.
Course objectives include:
• 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
More detailed course information is available at: https://www.icemortgagetechnology.com/education/courses/mitigating-potential-fraud-in-your-organization
Last Updated 09/2019.
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