High Mortgage Segment Fraud In 2016? … Recession In 2016?
The year 2016 may be a year of increased fraud in the mortgage segment. Paul Williams at Foreclosurepedia.org is focused on new adventures … smart move … and has not been reporting much recently on fraud in the mortgage segment. Bret Douglas is trying to rally Labor to stand their ground with the Mortgage Order Mills (MOMs) … but, Labor is showing no real progress in blocking the sucker punches from the MOMs. Many in Labor don’t appreciate the great efforts of Paul Williams and Bret Douglas. Many in Labor are abused every day, but they are unorganized and continue to get beat up by the MOMs. NAMFS is strongly influenced by the Mortgage Order Mills (MOMs) and is not a real friend of Labor. The Government does not seem to really care about fraud in the mortgage segment … Government overlooks the fraud.
At SOFI … we have long recognized that the mortgage segment is the home of low-fee inspections and 99% of the fraud and games in the industry. Our advice is to just AVOID the mortgage segment. It’s a problem segment that cannot be fixed. Why would you want to try to walk on glass?
The year 2016 maybe the year of the start of a new recession. I suggest that you follow Zerohedge to keep up to date on what is happening in the economy. A recession will result in lower mortgage inspection fees as the unemployed will rush to the mortgage segment for jobs as they have in the last recession.