TPO Annual Fraud Training Requirement

Overview

In order to comply with Freddie Mac guidelines that require annual fraud training for their employees by Third-Party Originators, Carrington Mortgage Services, LLC (CMS) has made an addition to the Broker Agreement Loan Fraud Statement as follows:

The Broker represents that he/she has implemented a Fraud Training program for any employee in a position to notice or report fraud and suspected fraud. The training program, held at least annually, must include training about:

• Common and emerging fraud schemes
• Red flags that may signal fraud and the need for more review.

Any broker applying to become an approved Wholesale broker with CMS or recertifying their approved broker status with CMS will be required to sign the new Broker Agreement.

Contacts

Please contact Client Administration or your Account Executive or Account Manager with any questions.

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