New Brunswick Government Teams with Crime Stoppers to Stop Mortgage Fraud
New Brunswick's Financial and Consumer Services Commission is joining with NB Crime Stoppers seeking the public's help to identify potential mortgage fraud in New Brunswick. The licensing and regulation of mortgage brokers is a new area for FCNB.
The commission says mortgage fraud occurs when someone deliberately misrepresent information in a mortgage application. This can include:
- Encouraging someone to give false employment details, such as inflating income or length of service at a job.
- Counselling someone to misrepresent the amount of a down payment or where the payment came from.
- Falsifying property details or omitting information in order to inflate the property value.
- Conning homeowners in financial difficulty that are at risk of foreclosure into signing over title of their property.
- Identity theft that results in second mortgages, property sales, or land transfers.
- Counselling a person to apply for a mortgage on someone else's behalf.
The FCNB has resources at their website to investigate and stop potential mortgage fraud.
If you know of someone who you believe has been a victim, or may be committing, mortgage fraud, and you would like to report your concerns but wish to remain anonymous please contact NB Crime Stoppers by calling 1-800-222-TIPS (8477), texting TIP212 + your message to 'CRIMES' (274637), or by Secure Web Tips. Crime Stoppers will pay up to $2,000 for information leading to an arrest.
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