Short Sale Fraud – Avoid Floppers!

Guest Editorial

Are you prepared for the Upcoming Onslaught of Short Sale Fraud?

 Have you ever heard of flopping?  If not, you will soon. Flopping can lead to tens of thousands of dollars disappearing from your Credit Union’s capital reserves, all because you were not prepared.   The NCUA auditors aren’t going to tell you about it because they are buried under mounds of bureaucracy.  So much that they probably won’t notice for at least a year, after flopping has become overtly apparent. When they do discover this looming epidemic, the red marks will fall squarely on the CEO, VP of Servicing, VP of Real Estate, VP of collections and so forth.

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