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Overview
The U.S. Department of Housing and Urban Development (HUD), in partnership with the Loan Modification Scam Prevention Network, today announced the launch of:
PreventLoanScams.org.
This is meant to create national complaint database, which is a major step in the fight against loan modification scams.
The Loan Modification Scam Prevention Network, a national coalition of public and private enterprises, is led by the Lawyers' Committee for Civil Rights Under Law.
Fannie Mae, Freddie Mac, the Homeownership Preservation Foundation, and NeighborWorks America assist the Lawyers' Committee in leading the coalition's fight against loan modification scams.
The Network developed PreventLoanScams.org to provide homeowners with a single destination to report alleged scammers.
- Complaints filed online are added to a national complaint database and forwarded to the appropriate law enforcement agencies for review. The Network estimates that the website will assist approximately 50,000 homeowners affected by scams.
- Additionally, HUD has directed its local fair housing and housing counseling grantees to begin reporting alleged loan modification scams via the website.
Prior to the launch of PreventLoanScams.org, federal, state, and local government agencies could not share complaint data with non-profit organizations.
The new system allows for better analysis of trends across jurisdictional lines and will likely lead to an increase in private enforcement action filings.
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Highlights
Response to Crisis
The Loan Modification Scam Prevention Network (LMSPN or Network) was created to strengthen the fight against scammers and support existing efforts at the national, state and local levels.
The lead organizations of the effort include Fannie Mae, Freddie Mac, the Lawyers' Committee for Civil Rights Under Law (Lawyers' Committee) and NeighborWorks America, among others, with representatives from key governmental agencies, such as the Federal Trade Commission, the U.S. Department of Housing and Urban Development (HUD), U.S. Department of Justice, the U.S. Treasury Department, the Federal Bureau of Investigation, and state Attorneys General offices, as well as leading non-profit organizations from across the country.
This new, broad coalition includes a two-part response:
First, NeighborWorks is leading a national media and outreach campaign to educate homeowners and the public on potential scams.
Second, the Lawyers' Committee is leading an effort to increase reporting and prosecution of alleged scammers to support ongoing enforcement efforts at the federal, state and local levels. |
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