Tuesday, April 27, 2010

FYI: GSEs/Regulators Announce Anti Loan Mod Scam Campaign

Fannie Mae, Freddie Mac and various federal agencies recently announced a national campaign to prevent loan modification scams through the formation of a Loan Modification Scam Prevention Network, as well as a consolidation website.
As part of the campaign, the network has launched a website, www.PreventLoanScams.org, which is designed to support national, state and local law enforcement efforts. The website serves as a nationwide clearinghouse and destination for loan modification scam information on complaints filed, laws and regulations, and enforcement actions. The website includes: (1) an electronic complaint form for scam victims; (2) names of individuals and organizations identified by enforcement agencies to have allegedly committed a loan modification scam; (3) information on how to avoid a loan modification scam; (4) state-by-state information about rules, regulations and resources available to homeowners; and (5) news and information on enforcement efforts.
Prominent contributors to the campaign include: the Treasury Department, FDIC, the Department of Housing and Urban Development, the Federal Trade Commission, the Conference of State Bank Supervisors, the National Association of Attorneys General, the Justice Department and FBI.
Let me know if you have any questions.  Thanks.


Ralph T. Wutscher

Kahrl Wutscher LLP

The Loop Center Building

105 W. Madison Street, Suite 2100
Chicago, Illinois  60602
Direct:  (312) 551-9320 

Fax:  (866) 581-9302
Mobile:  (312) 493-0874




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