Loan Modification Fraud Targeted

November 18, 2009

A "Loan Modification Scam Alert" campaign has been launched by a coalition of federal agencies, non-profit organizations, Freddie Mac and others. Here’s what Hollis McLoughlin, senior vice president of Freddie Mac, said about the campaign:

"We applaud this new coalition for standing together against con artists who specialize in bilking the public with empty promises of quick fixes to mortgage problems. Attacking loan modification fraud has been a top priority at Freddie Mac long before the current housing crisis began. We look forward to working with the Treasury Department, Federal Trade Commission, HUD, NeighborWorks America and others to close the door on mortgage fraud."

Posted in Lending, Real Estate, Things of Interest