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Definition
| property is purchased and falsely appraised at a high value and then quickly sold. |
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| the buyer of a property borrows the down payment from the seller throught he issuance of a non-disclosed 2nd mortgage. |
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| Nominee Loans/ Straw Buyers |
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Definition
| the identity of the borrower is consealed through the use of a nominee who allows the borrower to use his name and credit history to apply |
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| Fictitious/ Stolen Identity |
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Definition
| applicant's name, personal info, and credit history can be used without true person's knowledge |
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| an appraiser acts in collusion with the borrower and provides a misleading apprasisal report to the lender. |
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| Perpetrator identifies homeowners who are at risk of losing their home and misleads them into believing that they can save their homes by transferring the deed and up-front fees. |
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Definition
| An investor may use a straw buyer, false income docs, and false credit reports to obtain a loan in the straw buyer's name. Subsequent to closing, the straw buyer signs the property over to the investor in a quitclaim deed which relinquishes all rights to the property and provides no guaranty on title. the investor does not make any mortgage payments and rents the property until foreclosure takes plave several months later. |
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Definition
the illegalpractce of stealing personal indentifying information such as SSN in order to create a fictional person;
not in true name making it harder to detect |
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| The surreptitious stealing of credit and debit info to be used to make illegal purchases on the victim's accounts. |
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| method of recording and capturing computer keystrokes in order to obtain passwords or encryption keys to bypass security measures |
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| The illegal practice of obtaining personal info through email companies. Sends out valid emails asking for personal info; this info is colected and sold or used directly to access the account info |
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Definition
| the practice of bypassing the security machanisms of a network or information system to gain unauthorized access to personal info |
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Definition
| A large scale process of collecting large numbers of a computer's info by poisoning a domain name system. |
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Definition
any technology that assists in gathering of personal info about a person without their knowledge
Unknowingly installed in a computer as a software virus or sometimes as a result of installing a new program to secretly gather info about the user. |
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| The illegal practice of stealing credit card info off the magnetic strip through the use of a handhelf device that scans, steals, and stores the data. |
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Definition
| The process if intercepting wireles transmissions of credit card transmissions at te point of sale at retail stores, gas stations, ect |
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