Reported incidents of mortgage fraud and misrepresentation by professionals in the mortgage industry grew 7% from 2008 to 2009, according to The 12th Periodic Mortgage Fraud Case Report from the Mortgage Asset Research Institute , a LexisNexis® service. “While this is a noticeable increase, we believe that mortgage fraud is... READ MORE
There are a variety of schemes by which mortgage fraud can take place—sometimes involving staff inside the financial institution. The Federal Financial Institutions Examination Council warns financial institutions to be on the watch for these common mortgage schemes: 1. Buy and bail This scheme typically involves a borrower who is... READ MORE
After five consecutive weeks of auto price gains and nine weeks of truck price gains, vehicle pricing is showing signs of stabilization, says Ricky Beggs, vice president and managing editor for Black Book USA, a Gainesville, Ga., publisher of electronic and print valuation guides. Each week, Black Book representatives attend... READ MORE
When auto loans go bad, collateral-management tools help CUs pick up the pieces. In today’s tough economy,
when many people are defaulting on car loans, you’d expect auto repossession agents to be rolling in clover. But they’ve
also run into tough times. “Just when you’d think there...