Avoiding Mortgage Fraud in Australia: Toolkit for Mortgage Professionals (eBook)
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Avoiding Mortgage Fraud in Australia: Toolkit for Mortgage Professionals provides a comprehensive overview of the tactics and strategies used by fraudsters and the practical steps that need to be taken by mortgage professionals to avert fraud.
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Written for mortgage underwriters, mortgage managers, mortgage aggregators, mortgage brokers, lenders mortgage insurers, title insurers, lenders’ and borrowers’ solicitors and valuers, it covers the essential elements in the detection of mortgage fraud in Australia.
Mortgage fraud is on the rise as a result of the demystification of the mortgage lending process together with the digital dispersal of this information. At the same time, the means to commit fraud has become ever more widespread. In the last 10 years electronic bank statements, spreadsheets, graphics programs, high-resolution colour scanners and printers, disposable mobile phones, websites and social networking, have each enhanced the ability of fraudsters to steal or create identities, accurately falsify documents, and even fabricate fictitious people. In addition to the rise of fraud, the last 10 years have also seen a decline of the protection rendered to lenders by the Torrens system.
Avoiding Mortgage Fraud in Australia: Toolkit for Mortgage Professionals looks at tactics such as using false websites, false people, false employers, false companies and false certificates of title, and the due diligence required to expose these falsities. Various fraudster strategies including Imposter Fraud, Settlement Fraud and Valuation fraud are then methodically examined. The book describes multiple frauds with references to reported decisions, newspaper articles and ASIC press releases. In addition, case studies are used throughout to highlight the fraud in action.
This book is indispensable for those working in the mortgage field.
- Written in plain English
- Ready reference and practical guide to avoiding mortgage fraud in Australia
- Comprehensive overview of the tactics and strategies used by fraudsters
Bransgrove & Young, The Essential Guide to Mortgage Law in Australia, 2nd edition, 2013
Croft & Hay, The Mortgagee’s Power of Sale, 3rd edition, 2012
Tyler, Young & Croft, Fisher & Lightwood’s Law of Mortgage, 3rd edition, 2013
Table of contents
Part 1 - Tactics
Chapter 1 False Websites
Chapter 2 False Emails
Chapter 3 False Social Media
Chapter 4 False Telephone Numbers
Chapter 5 False Documents
Chapter 6 False Certificates of Title
Chapter 7 False Bank Cheques
Chapter 8 False Identities
Chapter 9 False Professionals
Chapter 10 False People (Patsies)
Chapter 11 False Witnesses
Chapter 12 False Companies
Chapter 13 False Employers
Chapter 14 False Applications
Chapter 15 False Bank Statements
Chapter 16 False Trading Records
Chapter 17 False Tenants, Rent Roles and False Occupancy
Chapter 18 False Pre-Sales
Chapter 19 False Contracts
Chapter 20 False Comparables
Chapter 21 False Reputations
Chapter 22 False Cheque Directions
Chapter 23 False Savings
Chapter 24 False Contributions
Chapter 25 False Urgency
Chapter 26 False Title Particulars
Part 2 - Strategy
Chapter 27 Imposter Fraud
Chapter 28 Corporate Hijack Fraud
Chapter 29 Over Borrowing Fraud
Chapter 30 Settlement Fraud
Chapter 31 Company Title Fraud
Chapter 32 Unjustness Fraud
Chapter 33 Serviceability Fraud
Chapter 34 Exit Strategy Fraud
Chapter 35 Valuation Fraud
Chapter 36 Smoke and Mirrors Fraud
Chapter 37 Developer Extrication Fraud