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Mortgage Fraud in Focus: Primary Residence, Secondary Problems - David Friend | S2E17
Mortgage fraud is back in the headlines — but understanding how it really happens requires a closer look. In this episode, attorney and former CFPB Senior Counsel David Friend joins host Mary Schuster to unpack the difference between “fraud for money” and “fraud for housing,” why proving intent is so difficult and what real estate professionals should watch for in today’s market. He highlighted the many scenarios in which details included on mortgage documents can be misrepresented, either intentionally or by mistake, and the tax implications of different occupancy statuses.
Chapters:
00:00 Understanding Mortgage Fraud: Definitions and Context
02:34 The Complexity of Mortgage Applications and Documentation
05:21 Intent and Material Misrepresentation in Fraud Cases
07:57 Fraud for Money vs. Fraud for Housing
10:39 The Role of Loan Originators and Title Companies
13:06 Navigating Discrepancies and Closing Procedures
15:56 Legal Implications and Responsibilities in Mortgage Transactions
18:39 The Impact of Fraud on the Real Estate Industry
21:04 Best Practices for Avoiding Fraud in Real Estate Transactions
30:08 Understanding Affiliated Business Arrangements
32:03 Defining Primary Residence in Mortgage Documents
34:28 Tax Implications of Primary Residence
36:41 Occupancy and Mortgage Fraud Concerns
43:34 Intent to Defraud in Mortgage Fraud Cases
51:08 Vendor Management and Compliance Training
Get In Touch…
David Friend, owner, David Friend Mortgage Consulting (Guest), [email protected]
Mary Schuster (Host), [email protected]
To find more episodes of “Keys to Real Estate” or learn more about October Research – the nation’s leading independent provider of market intelligence, industry news, expert analysis and regulatory information for professionals in the real estate, title, financial and settlement services industries – visit https://www.octoberresearch.com.
Episode sponsored by Closinglock – https://www.closinglock.com
Episode produced by October Research – https://www.octoberresearch.com
View all episodes
By October Research, LLCMortgage fraud is back in the headlines — but understanding how it really happens requires a closer look. In this episode, attorney and former CFPB Senior Counsel David Friend joins host Mary Schuster to unpack the difference between “fraud for money” and “fraud for housing,” why proving intent is so difficult and what real estate professionals should watch for in today’s market. He highlighted the many scenarios in which details included on mortgage documents can be misrepresented, either intentionally or by mistake, and the tax implications of different occupancy statuses.
Chapters:
00:00 Understanding Mortgage Fraud: Definitions and Context
02:34 The Complexity of Mortgage Applications and Documentation
05:21 Intent and Material Misrepresentation in Fraud Cases
07:57 Fraud for Money vs. Fraud for Housing
10:39 The Role of Loan Originators and Title Companies
13:06 Navigating Discrepancies and Closing Procedures
15:56 Legal Implications and Responsibilities in Mortgage Transactions
18:39 The Impact of Fraud on the Real Estate Industry
21:04 Best Practices for Avoiding Fraud in Real Estate Transactions
30:08 Understanding Affiliated Business Arrangements
32:03 Defining Primary Residence in Mortgage Documents
34:28 Tax Implications of Primary Residence
36:41 Occupancy and Mortgage Fraud Concerns
43:34 Intent to Defraud in Mortgage Fraud Cases
51:08 Vendor Management and Compliance Training
Get In Touch…
David Friend, owner, David Friend Mortgage Consulting (Guest), [email protected]
Mary Schuster (Host), [email protected]
To find more episodes of “Keys to Real Estate” or learn more about October Research – the nation’s leading independent provider of market intelligence, industry news, expert analysis and regulatory information for professionals in the real estate, title, financial and settlement services industries – visit https://www.octoberresearch.com.
Episode sponsored by Closinglock – https://www.closinglock.com
Episode produced by October Research – https://www.octoberresearch.com