FinCEN SAR Activity Review, Trends, Tips & Issues, Issue 10

1
• Fraud involving Multiple Loans was described in 15 of the sampled
narratives (1.4 percent).
Vulnerabilities
• Modern technology such as the Internet, while providing an easy means
to submit loan applications, also helps fuel increased mortgage loan
fraud by allowing criminals to commit fraud while their identities
remain shielded.
• Increased use of third-party brokers has created opportunities for
organized fraud groups.
• The lack of standard regulations and educational or experience criteria
for mortgage loan brokers appears to contribute, in part, to the growth
of mortgage loan fraud.