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GREENSBORO, NC — AIG United Guaranty has introduced a new course on CD to help mortgage originators learn how to detect and prevent mortgage fraud. "Fakes, Phonies, and Falsehoods" explains how mortgage fraud affects the industry, how typical fraud schemes work, and potential red flags to look for in loan documentation. The course, which takes approximately two hours to complete, is the fifth release in AIG United Guaranty’s CD "Classics" series. Others cover loan processing, appraisals, marketing, and customer service. All are available free to mortgage industry professionals as part of the company’s commitment to education and training. "While we don’t have an exact figure, we know that mortgage lenders lose millions to fraud each year, and unfortunately these costs are passed on to lenders as well as to borrowers," said Christine Hagan, Assistant Vice President for AIG United Guaranty’s Mortgage Industry Training Department. "One of our best defenses is more training for the people on the front lines who take applications and handle mortgage loans." Hagan said the course is ideal for underwriters, loan processors, and loan originators, but it can also be helpful for people new to the mortgage industry – regardless of their jobs or responsibilities. AIG United Guaranty’s Mortgage Industry Training Department offers one of the broadest selections of mortgage seminars, sales and personnel training, and industry-oriented courses available. A complete schedule of courses, including those available on CD, can be found at http://www.ugcorp.com/trainingopportunities.html. AIG United Guaranty also offers mortgage fraud recovery services through a subsidiary company, Investors Mortgage Asset Recovery Company, LLC (IMARC). IMARC works with lenders, mortgage insurers, and investors to recover losses that are especially difficult to handle or would not be financially feasible to pursue through typical collection methods. (Visit IMARC at http://www.mortgagefraud.com/.) And to protect a company from losses due to errors in rendering professional services during the mortgage origination process, AIG United Guaranty offers errors and omissions (E&O) insurance. Its E&O policies, available through United Guaranty Direct,® cover expenses from punitive as well as compensatory damage settlements. For more information, go to http://www.ugcorp.com/education/index.html.) About AIG United Guaranty United Guaranty Corporation (AIG United Guaranty) and its subsidiaries are member companies of American International Group, Inc. (AIG). The company has been headquartered in Greensboro, North Carolina, since it was established in 1963. Subsidiaries of AIG United Guaranty provide mortgage guaranty insurance for first and second mortgages that protects against mortgage credit losses. In addition, AIG United Guaranty’s comprehensive range of financial products and services to lenders and investors includes mortgage fraud recovery services, student loan default insurance, and access to insurance products from AIG member companies. AIG United Guaranty’s international locations include offices in Jerusalem, Hong Kong, Taiwan, Madrid, London, Tokyo, Mexico City, Milan, Beijing, Toronto, Sydney, and Budapest. American International Group, Inc. (AIG), world leaders in insurance and financial services, is the leading international insurance organization with operations in more than 130 countries and jurisdictions. AIG companies serve commercial, institutional and individual customers through the most extensive worldwide property-casualty and life insurance networks of any insurer. AIG United Guaranty media releases may be viewed on our Web site at www.ugcorp.com. AIG United Guaranty is a marketing term for United Guaranty Corporation and its subsidiaries. |