Mortgage Fraud Jobs

Mortgage fraud in United States has reached an alarming rate. As per a report prepared by Mortgage Asset Research Institute (MARI), fraudulent loans approved during the first 3 months of 2008 escalated by 42% as compared to what it was during the same period in 2007.

Owing to the financial crisis and slowing down of the economies the world over, mortgage fraud jobs like litigation, underwriting and forensic accounting jobs etc have got a boost. Membership in Association of Certified Fraud Examiners (A.C.F.E) has increased manifold. For instance, since its inception in 1988, total number of members has increased by 50%. The number of business valuation jobs is also on the rise.

Mortgage fraud jobs are very much in demand. Despite the prevailing volatility, the mortgage fraud job market seems to be enjoying an upswing. Given below are few jobs that are in demand in the mortgage market. A brief description of the job responsibilities is also given below.

1. Mortgage Fraud Investigator (Operations)

Job Responsibilities

• The candidate investigates fraudulent activities that have taken place.
• He is also responsible for preventing any violation of federal as well as state criminal statutes.
• He evaluates trends and patterns of fraudulent activities.
• He also decides whether a particular case qualifies for filing a SAR or Suspicious Activity Report etc.

2. Mortgage Insurance Fraud Investigator

Job Responsibilities

• The candidate audits as well as validates findings of vendors (3rd Party Investigators) to facilitate compliance of ethical practices, policies and procedures
• He also conducts interview of the prospective borrowers during the verification process.
• He also identifies instances of non compliance
• Prepares report of his findings

3. Mortgage Fraud Manager

Job Responsibilities

• The candidate is responsible for managing the centralized corporate fraud management group.
• The incumbent monitors anti money laundering activities
• The fraud manager takes care of quality assurance
• Ensures there is no non-compliance with federal norms
• The incumbent handles fraud investigations and works towards betterment of process improvements.

4. Fraud Prevention (Business Analyst)

Job Responsibilities

• The candidate is responsible for designing external as well as internal fraud reports.
• He is responsible for identifying and reporting fraud metrics and emerging trends
• The fraud prevention business analyst is responsible for analyzing fraud databases and prepares an operational performance report.

5. Fraud Analyst Risk Management

Job Responsibilities

• The fraud analyst is responsible for analyzing mortgage transactions and mortgage loan files before disbursement.
• The candidate is responsible for preparing the SAR or Suspicious Activity Report. He is expected to file the same with Financial Crimes Enforcement Network or FinCEN.
• Analyzing case reviews pertaining to broker pipeline.

Despite the fact that more and more companies are on a layoff spree, the mortgage fraud jobs are in demand owing to the prevailing market conditions, the mortgage market to be specific.