Mortgage due diligence is critical during the COVID-19 pandemic. Lenders must be able to quickly check for suspicious flags and verify the legal details of a deal before it proceeds too far.
CBC News reported that Canadians have lost more than $1.2 million to COVID-19-related scams — which means identity theft could also be on the rise.
Plus, as consumers face increased financial pressures and reduced incomes, they may be leaving recent changes off their mortgage applications — knowingly or mistakenly.
With this in mind, fraud mitigation is even more important than ever. The tools you are already using can be a key part of that process.
On the Purview blog, we are looking at tools for mortgage due diligence and how to access them today. Read it here: https://www.purview.ca/covid-19-fallout-and-mortgage-fraud/