Detecting and Reporting Mortgage Fraud

August 13, 2012 was the effective date for nonbank residential mortgage loan originating companies to report mortgage loan fraud and to establish an effective anti-money laundering program. This expansion was expected to help the ability of regulators and the mortgage industry to have greater transparency in and awareness of mortgage fraud trends. Traditional financial institutions had been covered by BSA (Bank Secrecy Act) requirements for decades. Beginning in 2002, mortgage loan fraud has been called out as a specific area of interest for the Bank Secrecy Act Suspicious Activity Reporting. What do you need to know about detecting and reporting mortgage fraud?


Learn important tips to help your organization to avoid the FIVE issues that may cause violations with Suspicious Activity Reporting requirements. Review important deadlines and timeframes for the FinCEN updates that became available in June 2018. Here are some highlights of the webinar that are designed to help you detect and report mortgage fraud.

Covered Topics:

  • Five best practices for brokers and loan officers to detect and avoid mortgage fraud
  • What are the current trends in mortgage fraud?
  • Where is mortgage fraud taking place?
  • Tips to prevent mortgage fraud
  • Overview of the five essential SAR requirements:
    1. Identification or alert of unusual activity (which may include: employee identification, law enforcement inquiries, other referrals, and transaction and surveillance monitoring system output)
    2. Managing alerts
    3. SAR decision making
    4. SAR completion and filing
    5. Monitoring and SAR filing on continuing activity
  • SAR checklist to Identify, Monitor, and Report Suspicious Activity based on BSA Exam Procedures and the Risk Assessment Process
  • Sample BSA Responsibility Matrix, including tasks for SAR monitoring
  • Highlights of Appendix L (SAR Quality Guidance) and tips for documenting SAR decision making

Who Should Attend?

The employees who will benefit from the program include lenders and loan support staff, loan processors, audit, Quality Control staff, BSA Officers and staff.

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