Saskatoon Mortgage Broker shares article on Mortgage fraud on the decline

Mortgage Fraud on the decline in Canada, Genworth CEO says

Tamsin Mcmahon, The Globe and Mail, August 06 2015

Mortgage fraud has been on the decline in Canada in recent years thanks to tougher regulations, better training and new technology, the head of Canada’s largest private mortgage insurance company says.

“The industry takes misrepresentation very seriously and as a group we’ve all taken some very strong actions over the last few years to reduce instances of misrepresentation and fraud in the industry,” Stuart Levings, chief executive officer of Genworth MI Canada Inc., said in a conference call with analysts on Wednesday.

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