The Los Angeles Times and their recent article Lenders are using a variety of tools to prevent mortgage fraud are informing that new tools are being used by mortgage lenders where strict rules apply to get approved. Not too long ago, home buyer could easily get away with white lies regarding improved job descriptions, higher income and stating that they would use the home as a primary resident even though it was not true. Todaythe game has changed to being very strict and a challenge to get approved for a home loan.
Strict New Tools Are Being Used By Mortgage Lenders