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Mortgage Fraud Task Force gets CU perspective

ST. LOUIS (12/1/08)--Missouri's credit union leaders are involved in a newly formed U.S. Attorney's Task Force on Mortgage Fraud, according to the Missouri Credit Union Association (MCUA).

MCUA President/CEO Rosie Holub and Missouri Division of Credit Unions Director Sandy Branson are providing a credit union perspective to help the task force prevent mortgage fraud.

U.S. Attorney Catherine Hanaway announced the task force was being formed to share information and trends, so tools could be developed to help identify and prosecute in mortgage fraud incidents.

The task force has three goals:

• Stopping mortgage fraud before it starts via educating industry officials, borrowers and local law enforcement;

• Ensuring all fraud cases are brought to the attention of law enforcement and prosecutors; and

• Making sure the voices of the community victimized by mortgage fraud are heard by the courts.

Holub will participate in the next task force meeting on Dec. 17 in St. Louis. The task force is made up of law enforcement officials, government regulators and real estate professionals.

Resource Links

Member seminar kits: Home Buyer Education: Preparing Your Finances

What to Do When Your ARM Is Due statement stuffer

What to Do When Your ARM Is Due drive-up envelope