Canada's Mortgage Industry Associations release Real Estate Fraud Brochure for Consumers

VANCOUVER, B.C., July 9 / - Canada's four mortgage industry associations have
announced the release of a joint Real Estate Fraud brochure. The brochure is
designed to increase consumer awareness of real estate fraud issues and will
be available on the associations' websites and from individual members.
The brochure describes common types of real estate fraud including
fraud-for-shelter and fraud-for-profit through identity theft and document
forgery. Consumers are provided with detailed information on the many steps
they can take to prevent becoming a victim of mortgage fraud. The brochure
also explains what consumers should do if they think they are victims of
identity theft or real estate fraud.
In a joint statement, the Chairmen of the Alberta Mortgage Brokers
Association, the Canadian Association of Accredited Mortgage Professionals,
the Independent Mortgage Brokers Association of Ontario and the Mortgage
Brokers Association of B.C. said:

<< "While real estate fraud is still quite rare, it can have a significant impact on those who are affected by it. This brochure gives consumers the comprehensive information they need to avoid becoming a victim. It also provides helpful tips on who to contact for assistance if consumers think they are victims of real estate fraud." >>

The document can be found on the following websites:

Alberta Mortgage Brokers Association - www.amba.ca
Canadian Association of Accredited Mortgage Professionals - www.caamp.org
Independent Mortgage Brokers Association of Ontario - www.imba.ca
Mortgage Brokers Association of British Columbia - www.mba.bc.c

Brent Irving notes: More and more lenders are requiring borrowers to obtain title insurance to help protect against mortgage fraud. If you are a victim of mortgage fraud the cost to recover could be upwards of $100,000 if not more. Another great reason to deal with a mortgage broker who understands the mortgage process. If you are interested in the services of a mortgage broker in White Rock BC please don't hesitate to contact me.