Thread: ACTION ALERT: Mortgage E-Verify Act Goes After Housing Fraud

From Californians for Population Stabilization (CAPS)
(Use their website to sent a FREE FAX or email directly to your Congressional representative.)

TAKE ACTION!

Alert! The Mortgage E-Verify Act would go after housing fraud!

The Mortgage E-Verify Act, by Representative Kenny Marchant (R-TX), would require that mortgagors be certified under the E-Verify program as a condition for modification of a home loan held by Fannie Mae or Freddie Mac, or insured by the Federal Housing Administration (FHA).

HR 4586 would help eliminate waste, fraud, and abuse in mortgage programs.

CLICK HERE to learn more and to take action.
http://capwiz.com/caps/issues/alert/?alertid=14702096

Received by Email
Date: 2/18/2010 11:09:10 A.M. Pacific Standard Time

Background:
Marchant Unveils "Mortgage E-Verify Act"
http://www.alipac.us/ftopict-187796-marchant.html

done! Thanks for the link

Thanks, Texas2step. I was just at Bank of America trying to track an electronic payment. Young lady I talked with did not really understand what I was saying, and as she looked at my account, she twice asked if I had a check number. What is frightening is that this young woman with a rough accent is also advising on mortgages. Even the person who hounds you with help before you can stand in line has a rough accent (Eastern European according to my ear.)
Yup, loan officers, mortgage brokers and those applying for loans need to be E-Verified. Who knows if I just bought a property from someone that did not even own the property, which has happened many times in FL.
Banks got taken for construction loans where their proof of releasing funds was photos taken by borrower of construction across the street in the 1970s and 1980s.
There have been too many instances for us not to take this seriously, as we end up bailing out the banks in the end.