My name is Brandon P. Reed, a former loan processor and Branch Manager of a Mortgage Company in the Dallas area. Mortgage Fraud is a serious subject that must be addressed in our nation. I was trained in the mortgage business around several characters who are now in FCI for different real estate schemes.Mortgage Fraud and other real estate fraud undermine the security of the United States of America and have the possibility to collapse our economic system as the rate of foreclosures from these properties continue to rise. At the bottom of the foreclosure ladder is a perfectly livable house that will now become vandalized for the copper and any other metal worth something, high grass, and sometimes used for illegal drug related activities and other crimes against persons.
So in a sense, these properties then become public nuisances creating an unstable environment in the communities in which these properties are located. Now the taxpayers are on the line to keep the grass and weeds cut and to make sure that these properties are always properly secured. Open and vacant and sub-standard structures are very much prevalent in Dallas.
Every month bank owned foreclosures are tagged by code compliance because of some banks inability to properly manage all of its assets. I want to help combat mortgage fraud and other frauds from the onset. Together, we can keep our neighborhoods strong. In the future we will publish articles to help regular citizens spot Mortgage Fraud and help prevent crime.
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