Coalition Launches New Campaign To Fight Loan Mod Scams

Posted by Orb Staff on April 26, 2010 No Comments
Categories : Mortgage Servicing

The Loan Modification Scam Prevention Network – led by Fannie Mae, Freddie Mac, the Lawyers' Committee for Civil Rights Under Law and NeighborWorks America – has announced a national campaign to prevent loan modification scams through public education, complaint reporting and coordination with local, state and federal enforcement agencies.

As part of the campaign, the network has launched a consumer-facing Web site, www.PreventLoanScams.org, which is designed to support national, state and local law enforcement efforts. The site serves as a nationwide clearinghouse and destination for loan modification scam information on complaints filed, laws and regulations, and enforcement actions.

The Web site includes an electronic complaint form that can be filled out easily by a scam victim, the names of individuals and organizations that have been identified by enforcement agencies to have allegedly committed a loan modification scam, and news and information on enforcement efforts.

‘This effort links homeowners to free, legitimate counseling and helps to put scammers out of business," says Jeff Hayward, senior vice president at Fannie Mae. "The goal of this campaign is to educate homeowners and empower those who have fallen victim to scammers to report and prevent future fraud.’

SOURCE: Fannie Mae

Register here to receive our Latest Headlines email newsletter




Leave a Comment