Aurora Loan Services

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FBI Statisticsw SAR’S (Suspicious Activity reports) In 2002, theactual number filed was 5623 and the number in2005 increased to 21,994w Number of case worked by the FBI The number in2003 was 436 and the number in 2005 increased to721w Dollars lost due to Fraud In 2002, the figure was$293 million and in 2005 that figure increased toover $1 billion dollars1
Major Riskw Financial Fraud- Air loans and double sold notes(loans in which there is no collateral), entire unpaidloan amount plus cost charged offw Severe <strong>Loan</strong> Level Fraud- “Flips”, BuilderBailouts” (loans in which the collateral has beenfalsely inflated)w Various Fraud and Material Misrepresentation-ID theft, foreclosure “scams”, straw buy’s, silentseconds, occupancy, low doc/no doc inflated income,undisclosed debt, title fraud, falsified FICO’s,affinity fraud and so on……..2
Page 1: ConfidentialAurora Loan ServicesIns
Page 5 and 6: National Client Relationsw New appl
Page 7: Default Groupw Reviews every 1 st p
Page 11 and 12: Tools of the Tradew Autotrack (Choi
Page 13: Post Closingw Statistical Samplingw

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