How to Report Loan Fraud
Loan fraud occurs at all levels of lending big and small. According to the FBI, the amount of mortgage fraud is unknown since only 7 percent of the complaints filed with the bureau listed a dollar amount. In 2008, that seven percent reported $1.5 billion in losses. Fraud causes are rising nationwide. When economic times slow down, cases of fraud usually rise. Banks are not the only victims of fraud. The victim also can be the borrower. The FBI, state and local law enforcement all investigate fraud cases.
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Instructions
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File a Report
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Gather all of the information you have about the issue. The more detailed, the better. Include names, addresses, phone numbers and all information about the loan or loans, and why you suspect fraud.
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Determine with whom you will file the report. All levels of government have agencies to deal with loan fraud. The type of fraud also can determine who you file a complaint with as well. The FBI classifies mortgage fraud as a white-collar priority crime.
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Contact the agency you have determined will best handle your complaint. The FBI asks you contact your local FBI office to file a complaint. When contacting your local or state law enforcement, do not call 911 unless it is an emergency. All state and local agencies have separate phone numbers. Some of the states provide specific loan fraud units; however, this will vary depending on your state.
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File the report. Calling might not be enough--you might have to sit down and talk with an officer to file a formal complaint. The agency might ask you to come to it, or the agency might send someone to your house to receive the complaint. Provide the agency's representative with all of the details of the incident and cooperate with the investigation.
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References
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