Freddie Mac Updates Fraud Mitigation Best Practices
February 3, 2015
The Freddie Mac Financial Fraud Investigation Unit (FFIU) has updated and posted online its comprehensive Single-Family mortgage fraud mitigation best practices document. These fraud best practices will help you know what to look out for, how to report fraud or suspected fraud to Freddie Mac, and what steps you can take to help prevent and resolve fraud.
In addition to updating content, we've organized origination and servicing fraud schemes and red flags into separate, easy-to-read sections. It’s worth noting that, as the industry evolves, so do fraud trends. The relevance of the schemes outlined in this document will vary depending on the lending environment.
For easier use, the FFIU also has turned the mortgage screening checklist section into a standalone reference. This reference offers you an at-a-glance checklist of inconsistencies or "red flags" you may find in a mortgage file.
Please review these updated resources and share them with the appropriate members within your organization. Both resources are available online at Fraud Prevention Resources.
Looking Forward to Continued Success
Freddie Mac is committed to helping the mortgage industry fight fraud, and our FFIU is at the forefront of our mortgage fraud mitigation efforts.
Your continued efforts toward fraud prevention, detection, and reporting are critical in the fight against fraud. Thank you for your vigilance.