Tag Archives: Battle

Verification Bureau Partners with Lenders to Battle Loan Modifications Fraud Schemes

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Miami, FL (PRWEB) April 20, 2009

Verification Bureau Inc., a leader in fraud detection and info verification options for the monetary business, launched Loan Mod Audit which aids lenders and servicers foretell the borrower’s capability to repay a modified loan and authenticate that the applicant is truthfully under financial distress by way of revenue and employment validations.

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LoanMod Audit verifies the borrower’s revenue and employment utilizing a highly automated and paperless system, which accesses numerous databases like the Internal Income Service by making use of the 4506-T type. This IRS direct program is capable of delivering outcomes in a matter of hours by way of a safe site or in information format through XML web solutions. The answer can be bundled with other merchandise and solutions available via the fraudpredator.com on the web suite of info verification systems which consist of: identity, collateral, and asset verification options.

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“The new mortgage modification applications are now becoming hoaxed by unscrupulous folks. Some years ago they would falsely state income and employment in order to qualify for a loan. Today it is the other way around applicants shrink their revenue, fabricate paystubs, and claim unemployment even if they have a job in order to qualify for a loan modification plan. In addition, the very same “scam artist brokers” that were just before pushing fraudulent loans to investors are now counseling home owners on how to trick their loan modification programs” said Esteban Reyes – CEO for Verification Bureau, “LoanMod Audit, gives a dependable solution to not only lessen re-defaults by accurately validating the borrower’s potential to repay the loan but also to make sure the homeowner qualifies genuinely.”, he added.

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For more info about Loan Mod Audit contact 877-477-4506 Ext 201 or email sales (at) verificationbureau (dot) com.

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About Verification Bureau&#13

Founded in 2001, Verification Bureau is the top provider of automated IRS 4506T processing and Social Security Quantity verification systems. More than two,500 clients and 18,000 customers worldwide have screened more than 1,000,000 loan files using their suite of verification service and fraud detection systems. Verification Bureau provides a free of charge trial plan,which lenders can test their fraud detection tools for a limited time. For far more data: http://www.verificationbureau.com, phone 877-477-4506 Ext 201, or e mail sales (at) verificationbureau (dot) com.

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A New Horizon Credit Counseling Reports Joint Activity Force Developed to Battle Mortgage Modification Scams

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Fort Lauderdale, FL (PRWEB) December 12, 2011

On December 1, 2011 a new task force was developed to combat scams tageting homeowners looking for to apply for the Residence Reasonably priced Modification System (HAMP). The activity force is a combined effort of the Particular Inspector Basic for the Troubled Asset Relief System (SIGTARP), the Customer Financial Protection Bureau (CFPB), and the U.S. Department of the Treasury. Their mission is to investigate and shut down these scams while offering educational programs. A New Horizon Credit Counseling Solutions is a nonprofit debt consolidation organization that has been assisting buyers since 1978.

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The aim of our customer fraud alert is to empower property owners with the expertise of how to recognize and steer clear of these scams These scams prey upon the most vulnerable property owners as they desperately hold out hope of saving their residences, said Christy Romero, Deputy Special Inspector General for SIGTARP.

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Treasury is totally committed to functioning with SIGTARP and the CFPB to shut down mortgage scams that falsely represent themselves as government applications, said Treasury Assistant Secretary for Monetary Stability Tim Massad. This new initiative builds on the perform we have completed with SIGTARP to date and other collaborative efforts throughout the federal government to educate property owners about scams so they can shield themselves and their houses.

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Stephen Marcus, President of A New Horizon Credit Counseling mentioned, The consumer should be able recognize organizations charging a fee for false promises of lowering the homeowners mortgage debt or payments. A New Horizon routinely gives credit counseling and helps consumers manage their debt so that it can be totally paid off. They advise that if you are thinking about modifying your mortgage you can apply for free to the federal House Reasonably priced Modification Program (HAMP) on your own.

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Marcus added, The only party that can grant a loan modification is your mortgage servicer, so dont rely upon promises of third parties, they can’t guarantee or pre-approve outcomes, and never spend an advance fee. In most instances an advance charge is illegal.

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Lastly the Treasury cautions that paying a third party to help with your HAMP application does not increase your likelihood of getting a mortgage modification.

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For a lot more info about A New Horizon Credit Counseling programs, contact 1-800-556-1548. They can also be located on the internet at http://www.anewhorizon.org, or reached through e-mail at slieberman@anewhorizon.org

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