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 has made an addition to the Loan Fraud Zero Tolerance Form as follows:

The Correspondent Seller represents that the Company 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:

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

Any company applying to become an approved Correspondent seller with CMS or recertifying their approved Correspondent seller status with CMS will be required to sign the new Loan Fraud Zero Tolerance Form.

Contacts

Please contact Client Administration or CorrespondentRM@carringtonms.com with any questions.

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