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5ksandcabernets: So, you say you wanna buy a house....

5ksandcabernets

Wednesday, January 20, 2010

So, you say you wanna buy a house....

This is one of the files on my desk:

*A guy who speaks little English and already owned one house qualified
for another mortgage loan over $250,000 despite his monthly income
being only about $2,500.

Finding the fraud in this mortgage transaction will be easy. The trick
is determining whether it's first party fraud (fraud committed by the
loan originator, the appraiser, or the broker) or third party fraud
(where the borrower is the only person being deceitful.)

2 Comments:

Blogger lindsay said...

well duh. why is this a problem again? i mean gosh if people could just get approved for reasonable mortgages like this we wouldn't be in a housing/debt/economic failure crisis.

good luck! you definitely make the job sound interesting, at least at times. maybe i do really boring work, but i don't know that i could ever make it sound remotely fun.

January 20, 2010 at 10:42 AM  
Blogger Ulyana said...

your job sounds like so much fun!!!

glad you are running again :)

January 20, 2010 at 10:43 AM  

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