Description

An "Air Loan" is the result of a mortgage being advanced on a property purporting to have a single-family home, but in reality may be a vacant lot or only partially built. With Air Loans, the “homebuyer” can often not be found—the fraudster has disappeared with the mortgage funds. Most, if not all, of the paperwork has been forged or fabricated.

Using presentation content and video from the 2013 Mortgage Fraud Summit, this 30-minute online course will provide brokers with information on:

• The dangers for the various mortgage transaction parties.
• How Air Loan frauds occur.
• The best practices brokers can implement to avoid these frauds.

Content and video segments from a lender, a title insurer, and a property risk consultant are included.

This course is offered free to members and offers 0.5 hours of professional development.