Topics

Fannie Mae
Mortgage fraud is alive and well
Mortgage fraud is alive and well

If you thought the bad guys had left the mortgage business for greener pastures, think again. The thieves are still out there, ready to separate you from your money. But at the same time, many of us are still not above stretching the truth a little when we are trying to obtain financing. First, the business bad guys, represented today by Amerisave Mortgage Corp., which the Consumer Financial Protection Bureau has ordered to pay $19.3 million for perpetrating a deceptive bait-and-switch scheme on would-be borrowers. The CFPB found that the Atlanta-based online company, which lends in all 50 states, lured consumers by advertising misleading interest rates, locked them in with costly...

Loading