Topics to be discussed:

• Fraud Prevention Through Training: The Core of the Anti-Fraud Initiative
• Risk Control Assessments: Policies & Procedures
• Mortgage Servicers: The Latest Victim
• Reverse Mortgage Scams
• The Ripple Effects of Mortgage Fraud on Wall Street
• Click here to view full agenda.

Dear Mortgage Industry Professional,

Don’t let the ongoing mortgage and credit crisis make you underestimate the impact of mortgage fraud on the business. Fraud was a huge problem in 2007 and is only getting bigger this year.

That’s underlined by the news that the Federal Bureau of Investigation started a fraud investigation against IndyMac Bank just before it failed in the biggest thrift collapse in history. And that the FBI is investigating 20 other mortgage firms or individuals involved in the subprime mortgage fiasco.

The FBI is looking at accounting fraud, insider trading and failure to disclose proper evaluations of mortgages or securities, the agency said.

And it noted that 2007 was a banner year for mortgage fraud. On Dec. 31, the bureau had more than 1,200 open cases of mortgage fraud, a huge 47% increase over 2006, which was also a banner year.

In 2007, the FBI received 46,717 SARs (suspicious activity reports), a whopping 31% more than the previous years.

That’s why SourceMedia’s 3rd Annual Mortgage Fraud Conference, to be held Nov. 13 and 14 in Las Vegas, is so crucial. You’ll hear the best experts in the field describe how to spot mortgage fraud—both fraud by consumers in order to qualify for a mortgage, and fraud for profit by insiders like title officers, appraisers, and loan officers. And you’ll hear the latest on the best ways to prevent it from getting into your own operation.

Sincerely,

Mark Fogarty
Conference Chairman
Group Editorial Director
National Mortgage News

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