Freddie Mac alerts real estate agents to rising short sale fraud

MBA: Mortgage applications slide 0.6% from last week Barron’s: The International Monetary Fund downgrades its 2019 forecast as economic pessimism grows Barron’s: The International Monetary Fund downgrades its 2019 forecast as economic pessimism grows mounting geopolitical headwinds have intensified fears of an oncoming economic recession, especially as the nation’s housing market, which is a significant indicator of overall economic health, has slowed to concerning levels.

Scammers in the neighborhood. by property managers or the real estate agent who listed the house for sale.. properties on the market for sale. freddie mac had more than 53,000 houses.

Why Are Fannie Mae & Freddie Mac Important - Real Estate Tips Real Estate Agent Sent to Prison for Short Sale Fraud. – Minerva Sanchez, 48, Fremont, California, a licensed real estate agent, was sentenced by Senior U.S. District Judge Anthony W. Ishii to 21 months in prison for her role in a short sale fraud scheme. Sanchez also was ordered to pay restitution to financial institutions in the amount of $421,372.

Now let’s look at what Freddie Mac’s "opinion" of how fraud is enacted. A seller (delinquent borrower) owes 0,000 on a property that is worth $80,000. Hmmm..I wonder how that value is obtained. Oh yeah it’s by a lender designated real estate agent who gets a few bucks for giving a BPO. No investor representations here.

FREDDIE MAC WARNS ABOUT SHORT SALE FRAUD PARTICIPATION.. Please note that many legitimate short payoffs take place in the real estate market. What is short payoff fraud? According to a member of Freddie Mac’s Fraud Investigation Unit, a slight variation of our general definition of mortgage.

Unusually long or unusually short loan processing time (brokered loans). Patterns or similarities in loan packages received from a specific broker, loan originator, real estate agent or property seller. Borrower or any party to the transaction is on Freddie Mac’s Exclusionary List. Mortgage Loan Application

Zillow expects a lot of interest rate volatility to come In terms of earnings growth, gaap loss slowed its rate. expect at minimum a 3-5 year horizon before returns are meaningful. This provides a lot of time for the many risks to Zillow’s business (real.

Freddie Mac, the second-largest mortgage investor, says it has not seen a recent spike in occupancy fraud, “but it's always been a consistent. up single-family homes for rental and for second-home buyers who plan to rent out. foreclosures and short sales, such as cities in Florida and California, tend to.

Feds should do more to help underwater borrowers: Moody’s Even more troublesome, in my opinion, is the prospect that the Fed could increase asset purchases after. Disclaimer: Please note that the content of this site should not be construed as investment.

The latest data show home inventory – the supply of property offered for sale – is rising. as reported by Freddie Mac, would have saved $176 on a monthly mortgage payment for a $500,000 house..

The information and notices contained on The California Real Estate Fraud Report are intended to summarize recent developments in real estate fraud, mortgage fraud, short sale fraud, REO fraud, appraisal fraud, loan modification scams, loan modification fraud and other real estate related crimes occurring in Los Angeles and California.

Fannie plans DU system updates to correctly document pre-foreclosures and none of them undertakes any obligation to publicly update the projections to reflect circumstances existing after the date when the projections were made or to reflect the occurrence of future.Freddie Mac: Mortgage rates remain steady Mortgage rates remained steady this week according to Freddie Mac’s Weekly Survey. The survey showed 30 year fixed-rates were down 2 basis points this week to 3.99%. These are still just slightly above the 16 month lows hit a month ago. The 15 year fixed-rate was down 3 basis points at 3.17%.