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egamarro
79 Posts |
 Posted - 02/07/2008 : 6:11:22 PM
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I need some feed back quickly I'm about to go into a Meeting with my Broker the president of the company and upper management.
I have been at this company for 4 months as Processing Manager, there is a sales floor and in this sales floor is an LO that structures all the loans going out, I've been noticing taht all their agency loans have VOE's FULL VOE's but I've noticed discrepencies I used to UW a few years ago and maybe it's that UW spirit in me that is questioning things, let's just say the VOES ARE FUNNY!! not right. What are the consequenses of VOE Fraud with agency loans? |
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hectorm
254 Posts |
Posted - 02/07/2008 : 6:30:08 PM
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Consequences? That is easy - 3 hots and a cot for all those with guilty knowledge. This includes you now and I have bcc:d the FBI Mortgage Fraud division to alert them about you and the shop you work at. Mortgage Fraud is a felony and you are going down. Most loan officers are so broke now 3 hots and a cot actually might sound inviting.
"I am an FBI Agent!" - Keanu Reeves, Point Break
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dkendall1979
9527 Posts |
Posted - 02/07/2008 : 6:33:31 PM
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That's a little rough, but ok.
Yeah, it's bad. You gotta work the ladder though. Bring it up to your manager, if that doesn't alieviate the problem, go to the boss. If that doesn't work, then go to the police.
Chain of command. Use it.
quote:
Originally posted by hectorm
Consequences? That is easy - 3 hots and a cot for all those with guilty knowledge. This includes you now and I have bcc:d the FBI Mortgage Fraud division to alert them about you and the shop you work at. Mortgage Fraud is a felony and you are going down. Most loan officers are so broke now 3 hots and a cot actually might sound inviting.
"I am an FBI Agent!" - Keanu Reeves, Point Break
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kjdv
678 Posts |
Posted - 02/07/2008 : 7:17:19 PM
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| I had to turn in a best friend because of fraud. You probably could find archived posts re it from 2005. I was cleared because as soon as I found out, I called the WCD of the FBI, State atty, Banking & Finance, and police. It was over 20 mil in BLATANT fraud! I'd do something to clear yourself like I did, or I would have been implicated! |
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Pilgram
203 Posts |
Posted - 02/07/2008 : 7:52:05 PM
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| Karen - did you get your condo deal done? |
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kjdv
678 Posts |
Posted - 02/07/2008 : 8:14:37 PM
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| Nope! Has to fund next Thursday! Time's a ticking! |
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Brianquigley
1773 Posts |
Posted - 02/07/2008 : 9:45:03 PM
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| BLOW THE WHISTLE and get the hell out of there. Seriously |
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Mandyvilla
3078 Posts |
Posted - 02/07/2008 : 9:55:14 PM
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Tell who you need to tell, in person and in email. Advise management you will resign if they do not pull a 4506 on each loan and report it if fraudulent. If management is turning a blind eye, you have to not only report it to an enforcement agency (AND DOCUMENT IT!!), but leave. It is possible management knows nothing - trust your gut. Keep all documentation of reporting it for years. It's the only proof you have that you were not involved in the fraud. I cannot stress that enough. Emails, copies/notes of reporting incidents, file it away...in a shoe box put in the back corner of your closet. Because if the law comes looking for you for the story, that is your life line. Make LOTS of notes now, capturing a name or two on the files wouldn't hurt either. You will be suffering from CRS when they come a calling.....details....in writing, in the shoebox, in the closet.
Good luck. |
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dellloans
237 Posts |
Posted - 02/07/2008 : 10:02:27 PM
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hector m-
were you serious? |
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