Mortgage Fraud and Predatory Lending

Overview

Outline

Ethics and Mortgage Fraud
1. Fraud and Conspiracies
2. Fraud for Profit
3. Housing Fraud
4. Red Flags of Mortgage Fraud
5. Transaction Fraud
6. Fraud Participants
7. Appraisal Independence
8. Flipping
9. Other Types of Mortgage Fraud
Penalties for Mortgage Fraud
1. Excessive Fees
2. Common Predatory Lending Ploys
Predatory Lending
1. Excessive Fees
2. Common Predatory Lending Ploys
3. Indicators of Predatory Lending
4. Anti-Predatory Lending Laws
Consumer Protection for High Cost Loans

Learning Objectives

Understand the meaning of fraud
Understand the different types of fraud
Understand the penalties for participating in mortgage fraud.

Teaching Methods:

PowerPoints, Video PowerPoint Presentation and Optional Quiz

Curriculum

Instructor

Debra Killian

Debra Killian, a seasoned Mortgage Loan Originator, Course Developer, and Instructor combines her extensive 35-year background in residential mortgages, real estate, banking, and accounting to excel in the mortgage industry. An alumnus of Western Connecticut State University with a B.B.A. in Accounting,

Debra has been a transformative figure in residential mortgages since 1994, overseeing and managing over $1 billion in real estate loans. Her unique educational and professional journey has positioned her as a dynamic and effective trainer in the mortgage and real estate sectors, offering tailored courses that use mortgage competencies in building long-term relationships with customers and real estate professionals.

A trailblazer in mortgage education, Debra co-authored pivotal NMLS-approved courses, including the 20-hour Pre-licensing SAFE Act course in 2010 and The Mortgage Professional for the same curriculum in 2011. Her contributions continued with co-authoring the MBA's School of Loan Origination and mortgage and real estate continuing education classes.
Debra relentlessly pursues the latest industry trends and regulatory changes, ensuring her courses, both new and existing, are continuously updated and aligned with current standards and practices.

Debra's leadership extends beyond her immediate professional sphere, evidenced by her past roles in the CT Mortgage Bankers Association, the National Association of Mortgage Professionals (NAMB) and various real estate associations.

A sought-after speaker, Debra lends her expertise to various professional groups and is dedicated to developing and delivering custom courses, reflecting her passion for education and industry advancement.

She and her husband Donald DeRespinis, own Charter Oak Systems, LLC which operates Cloes.online, and online education provider for pre-licensing courses required by the Secure and Fair Enforcement ACT (SAFE) Her passion is providing mortgage loan originators competency based training and professional development courses to all elevate mortgage loan originators. In addition to NMLS required courses, Debra and Don provide an array of compliance training to help companies comply with federal and state laws.