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PROTECT YOURSELF AGAINST MORTGAGE FRAUD AND IDENTITY THEFT

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<html> <head> <title>PROTECT YOURSELF AGAINST MORTGAGE FRAUD AND IDENTITY THEFT</title> </head> <body> <h1>PROTECT YOURSELF AGAINST MORTGAGE FRAUD AND IDENTITY THEFT</h1> <div class="info">Author: <a href="http://desireeroman.articlealley.com/">Desiree Roman</a></div><div class="body">NOTE: THIS ARTICLE WAS WRITTEN AND POSTED BY DESIREE ROMAN, NOT WEBMASTER. <br /><br /> <br /><br /> Since the deregulation of the mortgage industry in 1999, homeowners all across the nation are enjoying the benefits of competitive interest rates, lower closing costs and convenient signing options, such as closings conducted right in the borrower's own home. Unfortunately, deregulation has brought other concerns, such as identity theft and mortgage fraud. To protect yourself against fraud, consumers need to seek out services which help educate and protect.<br /><br /> <br /><br /> Mortgage fraud has become so rampant, a Web site was created by the MBA (Mortgage Bankers Association) where fraud could be reported by state. Each financial transaction requires the notarization of key loan documents at closing. It is essential to have a commissioned notary who should not only be able to properly verify identity, but should be educated in the processes and procedures that should take place during a critical real estate transaction.<br /><br /> <br /><br /> Both the escalation of mortgage fraud and identity theft significantly impacts the need for using certified notaries. According to the FBI Financial Crimes Report, the true level of mortgage fraud is largely unknown since the industry itself does not provide estimates on total fraud. Based on various industry reports and FBI analysis, mortgage fraud is pervasive and growing (www.fbi.gov). On the identity theft front, this same report indicates that in 2003, 4.6 percent of U.S. consumers experienced losses totaling $5 billion, and businesses experienced losses totaling $47.6 billion. <br /><br /> <br /><br /> Homeowners need to take precautions to either prevent or minimize their chances of becoming a victim of fraud. First and foremost, the name on the loan application should match the name on the borrower's primary form of identification. Homeowners should work only with a notary who can communicate directly with them in their own language. Ask for a bilingual notary if the language spoken is other than English, and insist on using a professional notary who has been certified by the National Notary Association. The risk of fraud increases when relying on an untrained notary.<br /><br /> <br /><br /> To help in the fight against mortgage fraud and identity theft, Roman Innovations, Inc. offers tips on ways to help protect yourself and help limit the damage in case this does happen to you. It can be a painstaking process to undue the damage caused when someone has mislead a homeowner or stolen someone's information. People need to be as proactive as possible.<br /><br /> <br /><br /> For tips that may help in identity theft/mortgage fraud prevention and damage control, visit www.notarychicago.com</div> <div class="source">Article Source: <a href="http://www.articlealley.com/http://desireeroman.articlealley.com/protect-yourself-against-mortgage-fraud-and-identity-theft-4888.html">http://www.articlealley.com/http://desireeroman.articlealley.com/protect-yourself-against-mortgage-fraud-and-identity-theft-4888.html</a></div> <div class="author"> <div class="authorOccupation"><strong>Occupation:</strong> Business Entrepreneur</div> <div class="authorBio">At Roman Innovations, Inc., Desire</div> <div class="authorUrl"><a href="http://www.romaninnovations.com" target="_blank">http://www.romaninnovations.com</a></div></author> </body> </html>

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PROTECT YOURSELF AGAINST MORTGAGE FRAUD AND IDENTITY THEFT Author: Desiree Roman NOTE: THIS ARTICLE WAS WRITTEN AND POSTED BY DESIREE ROMAN, NOT WEBMASTER. Since the deregulation of the mortgage industry in 1999, homeowners all across the nation are enjoying the benefits of competitive interest rates, lower closing costs and convenient signing options, such as closings conducted right in the borrower's own home. Unfortunately, deregulation has brought other concerns, such as identity theft and mortgage fraud. To protect yourself against fraud, consumers need to seek out services which help educate and protect. Mortgage fraud has become so rampant, a Web site was created by the MBA (Mortgage Bankers Association) where fraud could be reported by state. Each financial transaction requires the notarization of key loan documents at closing. It is essential to have a commissioned notary who should not only be able to properly verify identity, but should be educated in the processes and procedures that should take place during a critical real estate transaction. Both the escalation of mortgage fraud and identity theft significantly impacts the need for using certified notaries. According to the FBI Financial Crimes Report, the true level of mortgage fraud is largely unknown since the industry itself does not provide estimates on total fraud. Based on various industry reports and FBI analysis, mortgage fraud is pervasive and growing (www.fbi.gov). On the identity theft front, this same report indicates that in 2003, 4.6 percent of U.S. consumers experienced losses totaling $5 billion, and businesses experienced losses totaling $47.6 billion. Homeowners need to take precautions to either prevent or minimize their chances of becoming a victim of fraud. First and foremost, the name on the loan application should match the name on the borrower's primary form of identification. Homeowners should work only with a notary who can communicate directly with them in their own language. Ask for a bilingual notary if the language spoken is other than English, and insist on using a professional notary who has been certified by the National Notary Association. The risk of fraud increases when relying on an untrained notary. To help in the fight against mortgage fraud and identity theft, Roman Innovations, Inc. offers tips on ways to help protect yourself and help limit the damage in case this does happen to you. It can be a painstaking process to undue the damage caused when someone has mislead a homeowner or stolen someone's information. People need to be as proactive as possible. For tips that may help in identity theft/mortgage fraud prevention and damage control, visit www.notarychicago.com Article Source: http://www.articlealley.com/http://desireeroman.articlealley.com/protect-yourself-against-mortgage-fraud-and-identity-theft-4888.html About the Author: At Roman Innovations, Inc., Desire http://www.romaninnovations.com

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by Desiree Roman
At Roman Innovations, Inc., Desire
URL: http://www.romaninnovations.com

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PROTECT YOURSELF AGAINST MORTGAGE FRAUD AND IDENTITY THEFT

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