Lenders Urged to Stay Ahead of the Fraud Curve; Experts Say Risk Assessment Can Prevent Fraud
January 26, 2006
With mortgage fraud on the rise, lenders should adopt a risk-assessment methodology that identifies all major threats to safety and soundness, including sources of loan fraud, and be ready to respond to any potential state or federal fraud inquiry, according to industry experts. In an audio conference hosted by Inside Mortgage Finance last week, top executives with The Prieston Group and Option One said that a lack of adequate laws and regulations has pushed…