Advantage Credit Forms Mortgage Fraud Awareness Partnership
Pensacola, FL (ContentDesk) February 16, 2006 -- Advantage Credit International partners with Mortgage Fraud Awareness, LLC, a mortgage fraud consulting firm headed by nationally known expert and lecturer on mortgage fraud, Kevin Barnes. Advantage Credit is one of the first companies that pioneered the fight against mortgage fraud through its flagship fraud prevention product, TruApp.For more than three years Advantage Credit has been in the forefront of fraud prevention automation. Some of the largest mortgage brokerage firms throughout the nation use Advantage Credits products and services to protect against losses due to fraud. Now we are upping the ante, as we recognize that automation is only one part of a total fraud solution , said Ron Litt, president of Advantage Credit. Through our partnership with Mortgage Fraud Awareness, we will be able to reach a wide audience of loan originators and brokers, the troops on the front line of fraud. Educating them to spot the red flags of mortgage fraud early on is another part of our mortgage fraud prevention solution. This partnership is part of a long term strategic initiative at Advantage Credit, and the company plans to release several new products this year as part of a comprehensive suite of fraud prevention tools, raise more awareness and increase the suite of fraud detection products and services.Mortgage Fraud Awareness, LLC offers courses, lectures and training on the red flags that can go undetected in the origination process.A trainer focusing on fraud has to be as clever as the person committing the acts he or she is talking about.
Barnes knows from first hand experience how fraudulent loan data gets into the system, in spite of todays heightened awareness levels. As a former insider who has personally participated in mortgage fraud schemes and served time for it, he has the real world experience to develop highly effective training programs.Barnes will be traveling to speak at over 125 mortgage related events throughout the year, educating companies on what front line fraud detection tools should be used and why. Barnes has appeared on the CBS Evening News and has educated the FBI on this rising issue. His classes, "Making the Right Choice" and The Red Flags of Mortgage Fraud, have been approved in several states for continuing education credits. In many cases, the danger signals are apparent and still go undetected, said Kevin Barnes, president of Mortgage Fraud Awareness. An even more serious problem is that a significant share of mortgage fraud today is committed by industry insiders.
In this [mortgage] industry, we choose to educate our team members on the sales training and the relationship side but seem to forget or choose to forget that there is another side to training, Brokers and lenders alike need to know what tools there are to prevent mortgage fraud and how to use them. It's a little late to detect fraud once the loan is closed and funded, and most criminals wont give you back your money. For more information, contact Amber Jackson, public relations manager, at 850.439.2471 or via e-mail at ajackson-at-advantagecredit.com.About Advantage Credit:Founded in 1991, Advantage Credit International is a wholly owned subsidiary of The Adaugeo Group. The company provides credit reports and related services to more than 9,000 mortgage brokers and other customers through Advantage Online, and is a 5-time Inc. 500 Hall of Fame winner. For more information, contact Amber Jackson at 800.600.2510 x2471, or via e-mail ajackson-at-advantagecredit.com or visit advantagecredit.com.About Mortgage Fraud Awareness:Mortgage Fraud Awareness, LLC is a mortgage fraud consulting firm created by former convicted mortgage fraud felon, Kevin Barnes.
Mortgage Fraud Awareness has developed a training program that is designed for the mortgage and real estate industry called "Making the Right Choice" and the Red Flags of Mortgage Fraud . This class has been approved in several states and is pending in others. For more information, visit mortgagefraudawareness.com..
Vantage Score; Friend or Foe?
The Big 3 Credit Bureaus have recently announced they will be releasing their newly formed Vantage Score this year to take on the current FICO credit rating system. Many are concerned about how effective this new rating system will be. Will consumers benefit from this new source of credit score or will they be left with more information to monitor and more credit reporting information to keep track of?
Traditionally, FICO credit scoring system has been the most highly except credit report and credit score by lenders. This score ranges from 500-850 and will give lenders a overall analysis of what your credit handling is. The new Vantage Score, and what we know about it so far, will be a range from 501- 990 and will attach a letter grade to it ranging from an "A" to an "F".
This letter grade could end up hurting consumers more then helping it. Take for example a person applies for a mortgage and the lender sees only a "C" rating which would be a credit score, based on their...
Vantage Score; Friend or Foe?
Mortgage calculator > Vantage Score; Friend or Foe?
Finding the Right Online Loan for You
If you're looking for an online loan, you might be having problems deciding which type of loan and lender is best for you. While you can get an online loan from several different types of lenders, the interest rates, loan terms, and collateral requirements tend to differ from one to the next.Below you'll find information on the different types of online lending services, from online branches of traditional banks to solely online lending companies, as well as information about the differences from one type of online loan to the next. Exploring loan options Several different types of loans can be found via online services, and it can sometimes be difficult to decide which online loan is the right loan for your needs.Low value secured and unsecured loans can be found, usually on the websites of real-world finance companies. These loans provide small amounts of cash at the interest rates offered by the particular finance company, and can vary in size depending upon whether collateral is...
Finding the Right Online Loan for You
Mortgage calculator > Finding the Right Online Loan for You
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Advantage Credit Forms Mortgage Fraud Awareness Partnership
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3n?s Emergency Alert Notification ?One Call ? Reaches All? Business Continuity Planning System - Helping Organizations Contact Every Employee, Customer & Vendor?In Minutes
http://www.3nonline.com/biz_continuity.htm - National Notification Network's (3n) proprietary automated emergency notification technology is providing organizations with a fast and reliable means of notifying large numbers of people (employees, customers, vendors, etc.) in emergency situations. Business Continuity Planning and Disaster Recovery Planning tools, such as 3n's Emergency Notification system, are becoming increasingly...
Advantage Credit Forms Mortgage Fraud Awareness Partnership
Mortgage calculator > 3n?s Emergency Alert Notification ?One Call ? Reaches All? Business Continuity Planning System - Helping Organizations Contact Every Employee, Customer & Vendor?In Minutes
What is second mortgage?
What is a second mortgage?A second mortgage is a loan that is secured by the home itself, and subordinate to the first mortgage. Any mortgage taken out against a home in addition to an already established mortgage automatically becomes a second mortgage.As the name implies, second mortgages are secondary to first mortgages. This means if the homeowner is forced into foreclosure, the second mortgage holder will receive no proceeds from the sale of the home until the first mortgage has been completely...
Advantage Credit Forms Mortgage Fraud Awareness Partnership What is second mortgage? loans
Mortgage calculator > What is second mortgage?
Low Cost Cash Advance - Behind The Scenes
A low cost cash advance is just what it sounds like ? a customer of a cash advance service receives a sum of money instantly, as opposed to later, often through an affordable loan. Usually a cash advance refers to a ?payday loan,' in which a borrower acquires a short-term loan that they pay off or refinance by their next paycheck. However, a low cost cash advance, specifically, does not always act like a traditional loan and is often associated with lawsuits.
Generally, a low cost...
Mortgage calculator > Low Cost Cash Advance - Behind The Scenes