The talk Servicers
The fraud is in my view, man and he would have talked about this conference, in particular, it is a meeting tomorrow. The FBI suspects acts reports have tripled in recent years of 10000 to 35000 This is an indication that fraud is flourishing in the business world. I wanted you your senses on the extent of the problem. How is it? How long does it, until it is under control? And how the overthrow of the wave of fraud that is paralyzing the cases now?
Fraud issues that we face on the market for technology tools used helped me a lot to facilitate and implement a much larger challenge for lenders, when it comes to the solvency and when he s ‘acting credits. As in ancient times, it was necessary to use blindness. Today you can use the technology to new tax returns. They can now audits. It is very exciting for lenders and brokers of power given that this is fraud on the market. There are always good and bad credit, lenders and lessors of good and bad broker dealers. It has become a major problem, as we will see more high quality to a challenge with the death of several major donors. They are in business, mainly because of redemptions and much, what to do with fraud. It does not matter whether you work in our space, fraud is always something in our space. We will have the opportunity to do something forever. We are not able to eliminate them. It is really risk management, information technology, minimize. Technology can be a necessary evil, where they could also create opportunities for licensing, background of the person. I believe there are possibilities from the viewpoint of a supplier for us to develop technologies and solutions to help lenders and brokers to concentrate on doing good business with good brokers and bankers.
ALLAN: MCS is owned by a national network of conservation and we see an increase in the number of REO and default values of the properties of the problem of fraud and with only minor problems within the mortgage market General. An element which has been dominant at this conference is the concern of the sector, as public perception is that the mortgage industry actually money in foreclosures and objectives and could not further from the truth. While industrywide effort limitation and reduction of world standard and rate bulkhead must certainly include better management of fraud within the industry.
Mark: What do you see the division between the consumer problem of fraud and fraud from countries within the economy, such as brokers, title, experts, etc.? This is a serious problem?
It is undoubtedly insiders, fraud, the subsidiary or the so-called fraud is the biggest problem for lenders.
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