Avoiding Mortgage Fraud in Australia: Toolkit for Mortgage Professionals

Avoiding Mortgage Fraud in Australia: Toolkit for Mortgage Professionalsprovides 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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AUD$ 93.01
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ISBN/ISSN: 9780409338867

Product description

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.

Features

  • 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

Related Titles

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

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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