Recent turmoil in the U.S. housing market has created numerous opportunities for fraudsters. According to recent testimony from FBI Director Robert S. Mueller III, mortgage fraud has increased more than 60% in the past year with the losses from most cases totaling more than $1 million dollars. Because of this drastic increase, anti-fraud experts are needed to fight against the global mortgage fraud crisis.
This ACFE online self-study course presents a brief history of the mortgage industry and then examines the mortgage fraud process step-by-step, identifying areas vulnerable to fraud. It also includes a detailed look at the most common and pervasive fraud schemes affecting the mortgage industry today.
You Will Learn How To:
Recognize the way the mortgage industry has evolved and influenced the market
Assess current and emerging trends in mortgage fraud
Identify the legal aspects of mortgage fraud, at both federal and state levels
Identify the players in the mortgage industry and the frauds they perpetrate
Recognize mortgage fraud schemes and common red flags for each
Field of study: Specialized Knowledge and Applications
Last updated: April 2014
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Please note: To be eligible for CPE credit, you must complete the final exam within one year of purchase date. You may only claim CPE credit for a course once.
Table of Contents:
Lesson 1: The History of the Mortgage Industry
Lesson 2: Loan Market Offerings
Lesson 3: The Evolution of Mortgage Lenders and Brokers
Lesson 4: Factors Affecting Mortgage Fraud
Lesson 5: Legislation and Regulation in the Mortgage Industry
Lesson 6: The Mortgage Fraud Problem Today
Lesson 7: The Impact of Mortgage Fraud
Lesson 8: Trends in Mortgage Fraud
Lesson 9: Mortgage Fraud in the Future
Lesson 10: The Perpetrators of Mortgage Fraud
Lesson 11: The Property Seller
Lesson 12: The Real Estate Listing Agent
Lesson 13: The Borrower
Lesson 14: The Real Estate Buyer’s Agent
Lesson 15: The Lender
Lesson 16: Third-Party Originators (TPOs)
Lesson 17: The Loan Originator
Lesson 18: The Loan Processor
Lesson 19: The Underwriter
Lesson 20: The Appraiser
Lesson 21: The Title Insurer and Escrow Agent
Lesson 22: The Notary Public
Lesson 23: Servicing and Secondary-Market Investors
Lesson 24: Mortgage Servicing Companies
Lesson 25: Loan Resolution
Lesson 26: Mortgage Fraud Schemes
Lesson 27: Property Flipping
Lesson 28: Builder Perpetrated Schemes
Lesson 29: Foreclosure Rescue Schemes
Lesson 30: Deceptive Short Sales
Lesson 31: Chunking and Shotgunning
Lesson 32: Identity Fraud and Theft of Property Schemes
Lesson 33: Churning (Loan Flipping)
Lesson 34: Common Misrepresentations in Mortgage Fraud Schemes
ACFE online self-study courses feature:
24/7 access to courses through your Internet browser
Save time and quickly earn CPE credits with instant access, grading and printable certificate
The flexibility to start or stop a course and pick-up right where you left off
No additional shipping fees
Learn more about accessing your online self-study course.
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Internet access: High-speed connection recommended
Free Adobe Flash Player
Speakers required for video sound
Online Self-Study Troubleshooting Guide:
Problem: When I attempt to access my courses from “My Online Learning,” the course never launches, or I receive an error message saying my pop-up blocker needs to be turned off.
Solution: Your web browser must be configured to allow pop-ups in order to access ACFE Self-Study courses. Your browser may prompt you to allow pop-ups, or you may have to allow them manually. You may either allow them for all sites, or allow them just for the current site.
For information on how to manage your pop-up blocker settings in a specific browser, click the link below that corresponds to the browser you are using:
Also note that many toolbars, such as the Google Toolbar and Yahoo! include pop-up blockers as well. If you have one or more toolbars installed on your browser with built-in pop-up blockers, you must configure them to allow pop-ups.
Problem: When I click on a course from “My Online Learning,” I am presented with a login page, but my ACFE.com username and password won’t allow me to log in.
Solution: You do not have to log in a second time to access your online self-study. You most likely reached the login page because you clicked the link labeled “Click Here” as shown below:
Do not click that link; instead, allow your browser to automatically open the eLearning window on its own, which should happen after a few seconds. This will log you in automatically so that you can access your online courses.
Problem: I receive the following error when I try to load a different lesson with a course:
Solution: This occurs in Internet Explorer when trying to load a different lesson without closing the current lesson. This error can be avoided two different ways:
Always close the current lesson before going to another one. Always click the Close Window button (usually the red “X” in the upper right corner) of the current lesson before clicking on another lesson.
Use a different browser. This error seems to only occur in Internet Explorer, so using Mozilla Firefox or Google Chrome should resolve the issue (see below for links to download either of these browsers).
Other Troubleshooting Tips: If you encounter other errors, such as courses freezing or crashing, we recommend taking the following action:
Try a different browser. ACFE online self-study courses are designed to run on all modern web browsers, but if you encounter a problem that is not solved using one of the suggestions above, you can try using a different web browser to see if it eliminates the problem. We have most frequently seen where using Mozilla Firefox or Google Chrome has resolved an issue that was seen in Internet Explorer.
Mozilla Firefox can be downloaded here
Google Chrome can be downloaded here
Make sure you are running the latest version of Flash. Go to Adobe.com to see what version of Flash you are running, and then compare that to the table on that page to see what the latest version is for your operating system/browser combination. If you are not running the newest version, you should upgrade and see if that resolves the problem.