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Old-Fashioned Grunt Work is Key to Catching Mortgage Fraud, Freddie Mac Official Says
printThe key to catching mortgage fraud, says Joan Ferenzcy, is face time. Far too often, she says, compliance officers and fraud investigators fail to be proactive in the investigation process and instead passively make written requests for information. Ferenzcy, the head of U.S. government sponsored mortgage lender Freddie Mac's mortgage fraud unit has been passionate about weeding out bogus mortgage loans since she launched Freddie Mac's fraud investigation unit in 1989. In an interview with Fortent Inform reporter Matt Squire, Ferenczy provided tips for banks looking to create their own fraud unit. What advice can you give to banks that...
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