Course title: An introduction to mortgage fraud prevention

Trainer: Rhoda Mortimer

Course Outline

This course provides an essential introduction to the prevention of mortgage fraud to help ensure that mortgage staff are fully aware of what mortgage fraud is, some common typologies, who perpetrates it, the different motivations driving fraudsters and what lenders can do to detect it.
 

• understand what mortgage fraud is, who perpetrates it and why
• know the difference between the two main motivations of mortgage fraudsters: 'fraud for profit' and 'fraud for property'
• look at the most common forms of mortgage fraud
• gain an understanding of the methods used by lenders to detect and prevent mortgage fraud
• understand the dangers of organised mortgage fraud
• understand the roles of third parties in both perpetrating and preventing fraud - looking at mortgage brokers, valuers, conveyancers and accountants
• understand the importance of information sharing between lenders, regulators and law enforcement
• look in detail at 'new-build' fraud - the causes, consequences and action taken to prevent it
• have an overview of the main mortgage fraud risks facing lenders today

• New starters in financial crime teams
• Frontline sales/marketing staff
• Any staff that need a basic knowledge of mortgage fraud

 Course title: An insight into mortgage fraud, the past, the present and the future

Trainer: Bev Houlbrook

Course outline

This course provides a detailed understanding of the different types of mortgage fraud prevalent today.  A number of case studies will be used to highlight trends and warning signs which will be explored and discussed in detail.  It will explain the market we have just left, where we are now and what will be different in the emerging mortgage market.  It will make suggestions for what needs to be done now to ensure effective fraud prevention and loss mitigation tools are in place.

The course will conclude by discussing some of the industry initiatives that are available, how you can contribute and the ability to take mortgage fraud cases further.

Learning objectives

Participants will: 

• be given a high level overview of the issues faced in the US housing market compared with the situation in the UK.  Will the same happen here?
• understand the main types of mortgage fraud that lenders  are faced with.  Highlight the key differences and people who could be party to the fraud
• look at the back book – data mining and what should you do when you find suspicious activity
• learn more about what is happening in the industry and the mortgage climate today
• learn more about non conforming and specialist mortgage lending – what does the future hold?
• look at what they can do now to protect their business going forward
• find out who to contact if you suspect you have found a mortgage fraud case, including collaboration within the industry and the road to prosecution
• learn what to look out for as the new mortgage world emerges as the future may not be the same as the past. What new threats may your organisation be faced with?

Who should attend?

• portfolio managers 
• fraud investigators 
• anyone who requires a basic understanding of mortgage fraud issues