Wednesday, June 20, 2012

Notary Public News - Mortgage Industry - Fraud - Government

Loan processors, lenders, title companies, escrow officers, mortgage brokers, Real Estate agents, Inspectors, appraisers, loan consultants, attorneys, settlement companies, escrow companies, Realtors, so many people involved in the mortgage Industry and so few people that would like to provide fraud information. Now there is a government site that protect your identity.

The Notary Signing Agents Small Business article has a good summary:
Many Notary Signing Agents and other professionals in the mortgage industry are reluctant to report mortgage-related fraud practices in the workplace, fearing for their jobs. However, a federal agency is now actively encouraging whistleblowers with a new online site to report dishonest practices.

As part of the nationwide effort to combat mortgage fraud, the Residential Mortgage-Backed Securities (RMBS) Working Group has launched a website where people can report incidents of fraud involving mortgage-based securities. The task force is actively encouraging whistleblowers to come forward and report misconduct or deceptive practices, which may help facilitate their ongoing investigations.

The RMBS encourages insiders who have witnessed greed and gross misconduct to step forward, noting how critical their information is to ongoing investigations and stating that the RMBS will do everything possible to maintain their confidence and trust, while protecting their ability to speak out without fear of retaliation. Whistleblowers can use the website — — to file reports, expose fraud, and help law enforcement hold perpetrators accountable.

"When whistleblowers summon the courage to come to us, we will do everything we can to maintain their confidence and trust," said Acting Associate Attorney General Tony West in a recent statement.

More here.
National Notary Association

President Obama established the Financial Fraud Enforcement Task Force in November 2009 to hold accountable those who helped bring about the last financial crisis as well as those who would attempt to take advantage of the efforts at economic recovery.

The task force is improving efforts across the government and with state and local partners to investigate and prosecute significant financial crimes, ensure just and effective punishment for those who perpetrate financial crimes, recover proceeds for victims and address financial discrimination in the lending and financial markets.
With more than 20 federal agencies, 94 US Attorneys Offices and state and local partners, it’s the broadest coalition of law enforcement, investigatory and regulatory agencies ever assembled to combat fraud. The Task Force has established Financial Fraud Coordinators in every US Attorney’s Office around the country to help make these broad mandates a reality on the ground.

What is Financial Fraud?

Financial fraud takes many different shapes, and fraudsters wear many different masks. From mortgage scams that target the elderly, Ponzi schemes that shock the world, procurement fraud that steals money from our nation’s coffers, predatory lending that discriminates against vulnerable communities, securities fraud that undermines the trust and transparency of our markets, and the list goes on.
But the American people have something on their side the fraudsters don’t: the force of the largest coalition of federal, state and local partners ever assembled to combat fraud.
The Financial Fraud Enforcement Task Force’s mission is broad, because the problem is broad, and the task force is working tirelessly to combat these and future scams to protect the American people.

You may be eligible for a substantial reward
Substantial financial rewards may be available if you provide specific information that leads to a monetary recovery by the government.  Under the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, the reward can amount to 10-30% of the government’s monetary recovery. For more detailed information, visit the SEC Office of the Whistleblower. Rewards also may be available in some circumstances under other statutes, such as the False Claims Act or the Financial Institutions Anti-Fraud Enforcement Act, which allow whistleblowers to report fraud to the United States Attorney General. 

Know about other fraud, or need help with foreclosure?
If you know of fraud that does not specifically relate to mortgage-backed securities, please visit ourReport Fraud page.  If you are a homeowner who needs help with a foreclosure, HUD-approved housing counselors are available to assist with foreclosure prevention counseling services. You can find one by visiting the HUD website or calling HUD’s Housing Counseling and Referral Line at 1-800-569-4287.

If you need help, want to learn, or if you are aware of someone that needs help with Identity Theft, Mortgage fraud, credit card fraud give them this website address:


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