Marcus Vander Wall is the program officer of the National Credit Union Administration. Vander Wall oversees NCUA’s examination process. He says credit unions have advantages over banks where controlling mortgage fraud is concerned. Credit unions are in a better position to identify when lenders see unrealistically low home-value figures come across their desk. Vander Wall: “Flopping” is a variation of short sale fraud, where lenders are convinced that the property is worth less than it actually is. It’s estimated that there were approximately 600,000 short sales last year, and that number could double this year.”]
Source: https://www.cuinfosecurity.com/ncua-fighting-mortgage-fraud-a-2715