Real Estate Fraud Brochure released

Canada’s four mortgage industry associations have announced the release of a joint Real Estate Fraud brochure. The brochure is designed to increase consumer awareness of real estate fraud issues and will be available on the associations’ websites and from individual members.

The brochure describes common types of real estate fraud including fraud-for-shelter and fraud-for-profit through identity theft and document forgery. Consumers are provided with detailed information on the many steps they can take to prevent becoming a victim of mortgage fraud. The brochure also explains what consumers should do if they think they are victims of identity theft or real estate fraud.

In a joint statement, the Chairmen of the Alberta Mortgage Brokers Association, the Canadian Association of Accredited Mortgage Professionals, the Independent Mortgage Brokers Association of Ontario and the Mortgage Brokers Association of B.C. said:

“While real estate fraud is still quite rare, it can have a significant impact on those who are affected by it. This brochure gives consumers the comprehensive information they need to avoid becoming a victim. It also provides helpful tips on who to contact for assistance if consumers think they are victims of real estate fraud.”

The document can be found on the following websites:

Alberta Mortgage Brokers Association - www.amba.ca

Canadian Association of Accredited Mortgage Professionals - www.caamp.org

Independent Mortgage Brokers Association of Ontario - www.imba.ca

Mortgage Brokers Association of British Columbia - www.mba.bc.ca