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Home / Blog / Headlines & News / Fraudulent Mortgage Loan Originators in the News

Fraudulent Mortgage Loan Originators in the News

August 3, 2014 By Mary Catchur

Mortgage Fraud
Photo Credit: Alan Cleaver/Flickr/CC.

Unfortunately, there are fraudulent individuals in every profession, and it’s just as true with mortgage loan originators.

A story by Claudia Buck in The Sacramento Bee caught our eye this week, warning consumers that mortgage scammers are on the rise again.

As the housing crisis pummeled struggling homeowners, scammers pounced. They offered “easy” loan modifications and “foreclosure counseling” that were often nothing more than attempts to wrest money from distressed consumers.

“The amount of fraud that was occurring in the loan modification sector was unprecedented,” said Tom Pool, spokesman for the California Bureau of Real Estate. “So many were fly-by-night operators who would take consumers’ money upfront and then disappear… It was the Wild West.”

Read The Sacramento Bee’s story: Personal Finance: Beware, mortgage scammers on the rise again.

Check Out Each Person in the Homebuying Process

Our reputation at Marimark Mortgage is of extreme importance to us, as it is with many businesses in our industry.

When buying a home, you will use services from people in a number of professions, including mortgage origination, real estate, insurance, etc.

We recommend that you carefully check out each person with whom you will conduct business. Ask friends and family for word-of-mouth referrals to find reputable people to help with your homebuying needs. Interview people before hiring them to perform services, check their license, check reviews on industry websites and social networks, check for complaints with the Better Business Bureau, gather information about their performance, and do a thorough online search for the individual (and their business).

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At Marimark Mortgage, we place Testimonials from our customers on our website. We also have links to reviews on social networks and the Better Business Bureau at the bottom of every page of MarimarkMortgage.com. And we have our license numbers for Florida, Pennsylvania, and Virginia at the bottom of each page.

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Filed Under: Headlines & News Tagged With: Fraud, Mortgage

Opinions, estimates, forecasts and other views contained in this page do not necessarily represent the views of Marimark Mortgage or its management and should not be construed as an offer to provide financing at the rates or terms mentioned. Due to market fluctuations, interest rates are subject to change at any time and without notice. Interest rates are also subject to credit and property approval. Although Marimark Mortgage attempts to provide reliable, useful information, it does not guarantee that the information is accurate, current or suitable for any particular purpose. Information from this page may be used with proper attribution.

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