Fraud Watchdog Site

In an attempt to put a stop to fraudulent sales and refinance transactions, Pam Crowley, CRA created MortgageFraudWatchList.org where real estate professionals can send reports and addresses of a transaction that they believe has suspicious activity.  MFWL keeps the submitter’s information confidential but gives the report or address to the proper authorities – regulators, lenders, investors or mortgage fraud investigators, for investigation.

By submitting information or a report, the professional is not saying the property’s transaction is fraudulent or dishonest. Rather, he or she feels that certain facets of the transaction are not typical and the transaction should be thoroughly inspected to safeguard the lender’s investment.  “I give the reports to the regulator saying, ‘Here is some information an appraiser found that might be fraud’ and they look into it,” said Crowley.

Going live in March, MFWL is already doing very well, “I’ve sent some reports for cases that have gone cold. The regulators said that once they look over the report they find that the case was indeed fraud,” said Crowley.

Anyone who would like to submit a report should register at www.mortgagefraudwatchlist.org.  At this time, there is no charge for submitting a report and all reports are kept confidential.

“These reports are coming from appraisers who refuse to bend to the pressure but who are also out of work because of it,” said Crowley, “I still believe there are enough truly honest and good people in this world to overcome the evil and greed that currently have overtaken the real estate industry.”