Avoiding Mortgage Fraud in Australia: Toolkit for Mortgage Professionals

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