This course provides an in-depth look at mortgage and valuation fraud in the United States. First, we must understand the definition of fraud, and how it applies in mortgage lending and appraising.
Illustrations and examples are offered of various fraud schemes that are common today, including flipping, silent seconds and cash back at closing schemes. The appraiser’s role in various types of swindles will be examined. We will also discuss appraisal pressure, predatory lending and various illegal lending practices, such as packing and equity stripping.
Next, various enforcement and legal issues, including civil vs. criminal liability, investigation and prosecution of appraisers, and appraiser identity theft will be examined in detail. Finally, we will outline several steps appraisers can take to limit their liability, and ensure they are not ensnared in a fraud scheme web.
Approved by the Appraiser Qualifications Board (AQB) of The Appraisal Foundation and the state of Georgia as course approval 46385.
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