The most common investor mortgage fraud schemes are different types of property flipping, occupancy fraud and the straw buyer scam.
FORBES: These tips will help you avoid becoming the victim of fraud.
The Ability-to-Repay Rule was enacted to inject common sense into mortgage lending and borrowing practices, because lenders and consumers had clearly demonstrated that they could not do so on their own.
Among those underwater, delinquency (measured as a borrower who is 90 days or more past due on a mortgage payment) is most common in the oldest and middle age brackets with 10.6% of underwater borrowers over the age of 85 delinquent on their mortgage payments and similar percentages of borrowers in both the 40 to 44 and 45 to 49 age brackets delinquent on their mortgages.
While mortgage REIT investors watched as shares of common stock fell on Tuesday, preferred stock investors of the same company were singing a very different tune.
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Among the most common: not having both spouses on the title and the mortgage.
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The list of metropolises where foreclosures are most common include familiar names like Miami, where one in six homes with a mortgage is on its way to foreclosure, and Detroit, where the ratio is one in 23.
The lack of criminal prosecutions against Wall Street fat cats who created toxic, mortgage-backed securities and sold them to investors such as pension funds simply defies common sense.
Lehman's exposure to mortgage- and asset-backed securities and collateralized debt obligations is 400% of its tangible common equity, according to research by Sanford Bernstein.
However, delinquency is substantially more common among those more deeply underwater than those in less negative equity: only 5.5% of mortgage holders between 0 and 20 percent underwater are delinquent on payments, as compared to 16% of mortgage holders who are greater than 100 percent underwater (see Figure 3).
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