Preventing, Detecting, & Resolving Mortgage Fraud (630L07-Veg)

Venue: The Venetian

Location: Las Vegas, Nevada, United States

Event Date/Time: Jun 26, 2006
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Why You Should Attend

Can you afford not to pay attention to a $1 billion problem?

If so, read no further.

Mortgage fraud is one of the fastest growing white collar crimes in the United States. For the fiscal year 2005, FBI statistics reported over $1 billion in reported losses – doubling from $429 million for 2004.1

With such alarming statistics, mortgage lenders need to stay ahead of the criminal curve by learning the most advanced and up-to-date strategies to prevent and detect mortgage fraud and how to get your money back once fraud does occur.

At American Conference Institute’s 3rd National Forum on Preventing, Detecting and Resolving Mortgage Fraud, you will learn how to:

*Recognize leading schemes and the top 10 mortgage fraud trends

*Expedite the handling of your fraud files with the Feds

*Reduce fraud on a macro level and in a high volume environment

*Train your underwriting teams to spot fraud pre-funding

*Promote information sharing between lenders without risking liability

*Implement red flags for identifying ID-theft

*Prevent appraisal fraud: learn from examples where the fraud should have been stopped

*Show the capacity and value of your fraud department to the higher-ups

*Combine efforts and split costs between lenders to pursue the same fraudster

Don’t just hear war stories about the latest schemes. Come to this event to get practical solutions and advanced strategies to mitigate fraud losses in your fraud department!
1 Statistics provided by the FBI dated December 2005

• Mortgage Industry Professionals in the Following Departments:
- Fraud Prevention
- Fraud Investigation
- Quality Assurance
- Quality Control
- Risk Assessment
- Underwriting
- Compliance
• In-House Counsel at Mortgage Lenders
• Private Practice Attorneys in the Following Areas:
- Mortgage Banking
- Financial Services
- Consumer Finance
• Appraisers
• Title Insurance Professionals
• Financial Crimes Investigators


Day 1: Thursday, October 5, 2006

8:00 Registration Opens/Continental Breakfast

9:00 Chair’s Opening Remarks

Dale Sugimoto
Senior Vice President & Chief Risk Officer
Option One Mortgage (Irvine, CA)

9:15 Top 10 Trends in Mortgage Fraud Schemes: What to Look For

Sanford Doi
Senior Fraud Investigator
Freddie Mac (Woodland Hills, CA)

Dale Sugimoto
Senior Vice President & Chief Risk Officer
Option One Mortgage (Irvine, CA)

Michael J. Brook
Lanahan & Reilley, LLP (Santa Rosa, CA)

Learn about the latest nationwide trends in fraud over the past year, where the fraud is migrating to, and how to recognize certain emerging schemes. Experts will identify real-world examples of different fraud schemes sweeping the nation and how to manage different fraud hot spots.

10:15 Getting Law Enforcement to Prioritize Your Fraud Case

Domenic F. Perriello
Squad Force Supervisor
Federal Bureau of Investigation (Las Vegas, NV)

Mark G. Kasak
AVP Portfolio Risk
Option One Mortgage (Irvine, CA)

Holly A. Pierson
Of Counsel
Nelson Mullins Riley & Scarborough, LLP
(Former Assistant U.S. Attorney, Western District
of North Carolina) (Charlotte, NC)

Paul Hancock
Hogan & Hartson (Miami, FL)

As a lender, you want enforcement authorities to expedite the handling of your fraud file but in the real-world the question remains… how do you get that accomplished?

The session will provide you with:

What will make the Feds react? Information to include in your fraud packages
What are the realities of what lenders can do, and once that’s done, what will happen?
When to contact law enforcement
How to help the enforcers: information, communication and preparation strategies
What turns off law enforcement from continuing an investigation
Selecting the internal team to:
report fraud cases to authorities
work on subpoenas
collect supporting docs
11:15 Coffee Break

11:30 Social Security Number Validation as a Means of Preventing Fraud

Ron Sribnik
Director for the Center for Programs Support
Social Security Administration (San Francisco Regional Office)

Paul Hancock
Hogan & Hartson (Miami, FL)

Gain insight on the Social Security Administration’s efforts to validate social security numbers both pre-funding and post-closing. Specifically, you will learn about the program the SSA intends to institute and how this will help you combat fraud.

12:15 Networking Lunch for Attendees and Speakers

With address by Arthur Prieston

1:15 Upcoming Regulatory and Enforcement Efforts to Mitigate Mortgage Fraud

Michael S. Blume
Assistant United States Attorney
United States Attorney’s Office for the
Eastern District of Pennsylvania (Philadelphia, PA)

Rod Carnes
Deputy Commissioner
Georgia Department of Banking and Finance (Atlanta, GA)

Susan W. Brooks (invited)
U.S. Attorney
United States Attorney’s Office for the
Southern District of Indiana (Indianapolis, IN)

Jonathan D. Jaffe
Kirkpatrick & Lockhart, Nicholson Graham
(San Francisco, CA)

Leading regulatory and enforcement authorities will provide real-world examples of their latest enforcement efforts and examine new anti-fraud regulations across the country.

During this discussion, you will hear from those on the front lines on how certain schemes came to light and the investigative process behind uncovering these schemes.

2:30 Refreshment Break

2:45 Pre-Funding Fraud Detection Techniques: What Works & What Doesn’t

Sonya L. Faivre
National Risk Manager, Mortgage Banker Finance
Washington Mutual Bank (Houston, TX)

Sally Smith
Vice President & Manager, Quality Assurance
Bank of America (Dallas, TX)

Diane Alfeld
Vice President, Pre-Funding Analysis
GreenPoint Mortgage Funding (Novoto, CA)

Michael R. Pfeifer
Pfeifer & Reynolds, LLP (Orange, CA)

Reducing fraud on a macro level and in a high volume environment
Factors to include in high-risk area checklists
New red flags
which numbers to crunch; statistics to analyze
anomalies currently in the marketplace
Data mining strategies for information that software may not pick up
Training your underwriting teams
Types of data to collect
Integrating regional differences into your analysis
How to handle credit alerts and what to look for
Closing requests that have caught fraudsters
What to look for when reading bank statements
4:00 Sharing Information Between Lenders Without Risking Liability

Judy Yodonise
National Operations Manager – Wholesale Lending Division
MortgageIT (Pasadena, CA)

Merle D. Sharick
Manager, CPS Mortgage/Real Estate Business Development
MARI (Reston, VA)

Jeffrey Taylor
Digital Risk (Dallas, Texas)

Techniques on sharing information between lenders more efficiently and quickly
How to notify another lender when a:
common scheme has been detected
borrower applies for a loan stating they had a good faith estimate with another lender but you know it’s fraud
Getting the industry to talk more open and frequently about fraud within their institutions
Internal information sharing
using fraud alerts internally and among affiliates
how to communicate fraud to your retail, wholesale, sub-prime and second lien divisions
Stopping bad internal actors
sharing information on bad internal actors to prevent them from working in the industry
making an example of a bad employee
red flags to look for at the employee level
keeping abreast of changed circumstances that may trigger risky behavior:
what types of employee information can you legally and ethically track?
whether, and how to, look for life changing events without risking liability
5:15 Conference Adjourns for the Day

Day 2: Friday, October 6, 2006

8:30 Continental Breakfast

9:00 Chair’s Opening Remarks

9:15 Identity Theft: Red Flags & Servicing Issues

Penny A. Paplanus
Vice President, Compliance
New Century Financial (Irvine, CA)

Kathleen Egan
Senior Vice President & Assistant General Counsel
Wachovia Mortgage (Charlotte, NC)

Charles W. Sewright
Quest Advisors, Inc. (Northbrook, IL)

*Red flags for identifying ID-theft prior to closing
*Protecting your institution from novelty W2s
*Appraisers and id theft: how you can avoid being fooled
*Working with credit agencies on ID-theft cases
*Training customers what to do when their identity has been stolen
*Investigative techniques to help you catch ID-theft on the back end
*Servicing loans with ID-theft post-closing
how are other lenders handling these cases?

What are other lenders doing to protect the id theft victim?
confirming that the purported ID-theft victim is not the borrower who took out the loan
should you notify the investor, and if so, how?
how should you handle the foreclosure?
10:15 Coffee Break

10:30 Preventing Appraisal Fraud

Devon Crowel, RAA, MRA
Certified Res. Appraiser
D.S. Murphy & Associates (Sarasota, FL)

Rachel M. Dollar
The Dollar Law Firm (Santa Rosa, CA)

During this session, you will gain a full understanding of factors that lead to appraisal fraud and how it was – or could have been – prevented in specific cases. Learn from these case studies the latest information on:

Tools available that you can utilize when good public records aren’t available
How to confirm property valuation without ordering a second evaluation
How the new standard appraisal form (104UAR) will impact lenders
The weak spots in the new 104UAR form: where potential lies for fraud
11:30 Structuring Your Fraud Department and Making Fraud an Organizational Priority

Jill Simons
VP, Risk Mitigation, Fraud Strategy & Development
Washington Mutual Bank (Jacksonville, FL)

Erik Stein
EVP, Fraud Prevention
Fraud Risk Management
Countrywide Home Loans (Simi Valley, CA)

Dale Sugimoto
Senior Vice President & Chief Risk Officer
Option One Mortgage (Irvine, CA)

How leading lenders are building out their fraud departments
Getting higher-ups to create a culture to make fighting fraud a priority
Most effective organization of fraud units
Prosecution techniques and how they handle the investigative process
How and when to alert authorities on fraud
How the fraud department should work with other affiliates
Showing the capacity and value of the fraud department to your management
12:30 Networking Lunch for Attendees and Speakers

1:30 Technology Solutions That Will Help Prevent & Detect Mortgage Fraud

Jacqueline A. Dreyer
Managing Director
The Prieston Group (Glen Allen, VA)

Lisa Binkley
Executive Vice President
Rapid Reporting Verification Company (Ft. Worth, TX)

Bill Matthews
Senior Vice President
Conference of State Bank Supervisors (Washington, DC)

So many vendors and so little time to assess each one! During this session, you will gain perspective from industry leaders on what works, which services and tools are appropriate for your situation, and the “real-world” feedback from actual users.

2:30 Recovery Strategies: Getting the Most Bang for Your Buck

Frank Hirsch
Nelson Mullins Riley & Scarborough, LLP (Raleigh, NC)

John Siamas
Reed Smith (San Francisco, CA)

Michelle Canter
Franzen & Salzano (Norcross, GA)

Types of civil actions to pursue
How to combine efforts and split costs between lenders to pursue the same fraudster
Properly evaluating monetary recovery from culpable perpetrators
Measuring the amount of recovery vs. costs to recover
Assessing the ability of culpable parties to satisfy judgments
Ways to investigate solvency or available coverage
Evaluating the value of pursuing perpetrators for criminal acts
Avoiding the intentional acts exclusions
Thwarting fraudulent conveyances by individual defendants
Attaching the property of culpable parties
Admitting into evidence criminal prosecutions and guilty pleas in civil litigation
What impact do criminal prosecutions and guilty pleas have in civil litigation?
Preparing discovery to obtain key data and compilation of documentary proof
Using offensive strategies as the defendant in borrower/plaintiff cases
Establishing the absolute defense of borrower fraud to obtain summary judgment against borrower claims
3:30 Conference Concludes

Pre-Conference Workshop - Wednesday, October 4, 2006

2:00 to 5:00 PM (Registration begins at 1:30 PM)
Mastering the Basics: Identifying and Detecting Common Mortgage Fraud Schemes

If you are a newcomer to the world of mortgage fraud, look no further. This interactive workshop will provide you with a better understanding of how fraud is committed and how to prevent and detect mortgage fraud on the front end. Speakers will use real-world case studies to teach the basics behind certain fraud schemes and give you information about baseline strategies to minimize your fraud losses.

During this session, you will learn everything you need to take full advantage of the advanced sessions of the main event. Attend and gain information on:

How to recognize common fraud schemes
Case studies on each of the following types of mortgage fraud:
*income asset fraud
*property flipping
*title gap fraud
*straw buying schemes
*loan churning
*mortgage elimination schemes
*Practical solutions available to lenders to *minimize the risk of originating fraudulent loans
*Red flags to look for when looking at a file
*Using public databases and the internet as investigative tools

What should you do when you suspect fraud in the papers?
What to look for on credit reports
Checking title and when to pull files for additional investigation
Dealing with individual federal tax id numbers instead of social security numbers
Employment validation: how to quickly validate a borrower’s employment
What to look for when validating an appraiser’s opinion
Reporting systems in place to help lenders work together to fight fraud
How to handle investigations once suspicious activity is detected


Additional Information

Conference Pricing: Early Bird Special - Conference $1695 Early Bird Special - Conference & Workshop $2195 Conference $1895 Conference & Workshop $2395 SAVE $200 Early Bird Special pricing if you register and pay before August 31, 2006 The fee includes the conference, all program materials, luncheon and refreshments. SPECIAL DISCOUNT: We offer special pricing for groups and government employees. Please email or call for details. PROGRAM MATERIALS: Conference participants will receive a comprehensive set of conference materials prepared by the speakers. These materials are intended to provide the participants with an excellent reference source after the conference. Materials will be distributed commencing 1 hour prior to the conference. HOTEL INFORMATION A limited number of rooms are available at a discounted rate. To make your hotel reservation please visit If you need assistance please call Global Executive on 800-516-4265 or email The hotel will not be able to make or change your reservation directly. CANCELLATION AND REFUND POLICY: If you are unable to attend, please notify American Conference Institute in writing up to 10 days prior to the conference date and a credit voucher will be issued to you for the full amount, redeemable against any other American Conference Institute conference. If you prefer, you may request a refund of fees paid less a 15% service charge. No credits or refunds will be given for cancellations received after 10 days prior to the conference date. Substitution of participants is permissible without prior notification. American Conference Institute reserves the right to cancel any conference it deems necessary and will, in such event, make a full refund of any registration fee. No liability is assumed by American Conference Institute for changes in program date, content, speakers or venue. Any volume discounts are available only to individuals employed by the same organization. Early Bird and volume discounts not to be combined with any other offer