Misrepresentation of Borrower Employement Scheme
Tuesday, June 19, 2018
Fannie Mae’s Mortgage Fraud Program (MFP) alerts the industry to potential and active mortgage fraud scenarios. This alert relates to a scheme involving misrepresentation of borrower employment.
Southern California, Los Angeles County
Loan Common denominators / characteristics:
Fannie Mae’s MFP has identified several entities listed on loan applications as places of employment that appear to be fictitious. The following list contains 35 entities/businesses that were listed as the borrower’s proposed place(s) of employment but whose existence Fannie Mae could not confirm. This list is as of May 22, 2018 and is subject to change.