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updated: 1/2/2013 11:07 AM

FBI Agent Sheds Light on Mortgage Fraud with Realtors' Group

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Carolyn Gallagher

Mortgage fraud was the topic at a recent meeting of the North Shore Chapter of the Women's Council of Realtors.

The speaker, an FBI supervisory agent, explained that mortgage fraud is a type of bank robbery in which the bank is not even aware it has been robbed until months or years later. It can surface as inflated appraisals, fictitious or stolen identities, nominee or straw buyers, false information on loan applications, kickbacks, and other misrepresentations.

The meeting took place at Crowne Plaza Northbrook.

WCR is a national organization providing educational programs, business tools, and networking and leadership development opportunities for real estate professionals and others working in the real estate field such as attorneys, lenders, title companies, interior designers and stagers. The North Shore Chapter meets at various north suburban venues on the second Thursday of each month.

For membership information, contact the Chapter's Vice President of Membership, Brett Taylor, senior sales manager and managing broker of Toll Brothers, at (847) 381-4700.