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The conservative celebrity invested in a company that paid $1.7 million for an Arizona home with a title tainted by the so-called "robo-signer" scandal, during which mortgage companies failed to properly document foreclosures, according to an analysis done by a mortgage fraud examiner in Massachusetts.
Palin confirmed last week that she was part of a company that bought a five-bedroom house in Scottsdale, Ariz., in May. But records on the property compiled by the fraud examiner shows that at least two fraudulent signatures were involved in refinancing and foreclosure transactions on the property in the years before Palin's company purchased it, possibly raising questions about the legality of the sale.
According to the OTS, equity stripping and property flipping are among the more common fraudulent activities. Additionally, 80% of all mortgage fraud involves collaboration or collusion by industry insiders, according to the report.
Mortgage fraud schemes continue to adapt to a changing economy, including today's housing market where 14% of all mortgages are delinquent or in foreclosure proceedings. Mortgage fraud up 400& since 2009.
According to the OTS, equity stripping and property flipping are among the more common fraudulent activities. Additionally, 80% of all mortgage fraud involves collaboration or collusion by industry insiders, according to the report.
Mortgage fraud schemes continue to adapt to a changing economy, including today's housing market where 14% of all mortgages are delinquent or in foreclosure proceedings. Mortgage fraud up 400& since 2009.
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