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Fannie Mae has warned lenders to watch out for suspected fraud by Southern California mortgage brokers. So reports the Orange County (Calif.) Register.
“We have observed misrepresented incomes in a compilation of loans that were originated by (mortgage brokers) based in Southern California over the past several months,” an alert from Fannie Mae states.
Local law enforcement was reportedly unaware of the allegations.
Read the full article from the Orange County (Calif.) Register.
