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Mortgage
fraud summit will draw key speakers
By JEFF TUCKER
THE PUEBLO CHIEFTAIN
Pueblo will host the state's first ever seminar on mortgage fraud next
month. Hundreds of professionals in the real estate industry are
expected to attend.
The seminar is being organized by Ivor Hill, a general appraiser in
Pueblo. Hill has spent the last few years talking to professional
groups about the industry's growing concerns over mortgage fraud and
the damage fraud can do to the local economies and people who lose
their homes to foreclosures.
State Attorney General John Suther's office will take part.
"I think a great aspect of the event will be that it brings everybody
together to talk about it in a single forum," said Jan Zavislan, deputy
attorney general in charge of the state's mortgage and foreclosure task
force. Zavislan is among the guest speakers who will attend.
Hill said mortgage fraud in Pueblo and the rest of the state has become
a big enough concern that appraisers, county recorders, Realtors, law
enforcement and others have joined with him to try to put a stop to the
problem.
The general public also can attend, Hill said.
"What we're wanting is we would like to hear from people who have been
harmed," Hill said. "We're trying to offer this a public service and
I'm not making a penny from it. But we will be able to put the public
in front of people who can help them."
Zavislan said Pueblo ranks in the top three cities in the state for
suspected mortgage fraud based on the number of foreclosures in the
area.
The frauds take multiple forms, from appraisers manipulating data to
inflate the value of a property to outside lender, to loan officers
pressuring appraisers to meet predetermined values, Hill said.
Almost all of the frauds end up inflating the value of property. That
can lead to inflated property taxes and foreclosures that cost
homeowners their homes and local banks money which boosts their
insurance rates, Hill said.
The seminar will take place from 8 a.m. to 3 p.m., Nov. 2 at the Union
Depot.
People can register for the seminar by calling Hill at (719) 545-0893.
Folks who believe they have been victims of mortgage fraud can also
call that number and Hill will try to arrange a time during the seminar
they can meet with people who might be able to help them.
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