Mortgage Fraud Crackdown A Good Sign for Industry’s Future
June 19th, 2008What’s striking about recent mortgage news is how much of it is dominated by stories about investigations and indictments related to mortgage scams. Federal authorities have announced a nationwide crackdown, and local authorities have been active in many communities as well.
There were other, less dramatic stories on the mortgage front:
- Mortgage application activity stalled as mortgage rates rose
- The Hope Now Alliance, a mortgage industry group, announced plans to help streamline work-out plans for troubled borrowers
- A long-awaited mortgage bill became bogged down in the Senate due to controversy stemming from favorable mortgage rates received by two Senators
These other stories are worth reviewing, but ultimatly they are best put in context by the crackdown on mortgage scams.
