Indeed FRAUD is an ugly word and most people would steer clear from it if they know what to look for. Mortgage and real estate fraud schemes are clever and many unsuspecting people looking for help get roped in.
Elderly looking to get cash flow from a reverse mortgage, short sale fraud, people getting money from others for down payment and not disclosing it to the lender or people buying homes for unqualified borrowers.
Some of these schemes to an average everyday citizen may seem harmless but they aren't. Arm yourself,your family, friends and your clients with the facts. Here is a guide from Fannie Mae about popular fraud schemes, red flags for detecting fraud schemes and what to do. Remember if it sounds too good to be true it probably is.
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This is not a guarantee to lend. Rates subject to change without notice.
Nevin Williams II
Sierra Pacific Mortgage Company Phone: 888-206-5781 (919) 863-4370
nevin.williams@sierrapacificmortgage.com
NMLS #: 69651
5500 McNeely Dr #103 Raleigh NC 27612
Company NMLS # 1788 | www.nmlsconsumeraccess.org
Rates, terms and programs subject to change based on market conditions and borrower eligibility
Licenses – Sierra Pacific Mortgage Company, Inc. is licensed in the following States:
North Carolina, Mortgage Branch License NMLS License # L-127865-113, Virginia MC – 5275
Licensed in California by the Department of Business Oversight under the Residential Mortgage Lending Act # 417-005
Rates subject to change without notice. This is not a commitment to lend. Equal Housing Lender.
Sierra Pacific Mortgage may not be the lender for all products offered on this website. Some loans may be made by a lender with whom Sierra Pacific has a business relationship.
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