How to tackle mortgage fraud

At the recent Financial Crime Conference, the FSA outlined its thematic review of lenders' systems and controls to detect and prevent mortgage fraud. This review was carried out over a 15 month period (during 2010 to 2011) and was specifically targeted at five major lenders and 15 small to medium building societies. The findings helped to reinforce many long-held views. Much was made on the day as to the involvement of mortgage brokers in fraudulent behaviour, but little was mentioned about how solicitors and valuers are a major contributory factor. Solicitors The follow up docum...