Review criteria:

Misrepresented Income
False or forged employment verifications
False or forged tax returns, pay stubs, W-2s

Misrepresented Assets
False or forged bank statements
Undisclosed second mortgage
Loan represented as a gift
Undisclosed second mortgage

Occupancy Fraud
Misrepresented intent to occupy

Mortgage Fraud Schemes
Churning
Chunking
Straw Buyers
SISA Abuse
Foreclosure Rescue
Equity Theft
Property Flipping
Affinity Fraud

Key Red Flags
Loan Application
Credit Report
Employment
Income Verification
Appraisals

Mortgage Fraud Indicators
Loan participant motivations
Information discrepancies
SSN discrepancies
Documentation discrepancies
Significant cash proceeds
Undisclosed mortgages