Loan fraud is a serious concern for DCANS Investments Ltd (DIL). Loan fraud can encompass any suspicious, fraudulent and/or illegal activity committed against DIL and related to DIL's business. The most common types of suspicious activity and loan fraud schemes are: application fraud; supporting document fraud/forgery (including letters of credit, government-issued ids); and employee fraud.
DIL investigates fraud as appropriate, and makes reports of suspected fraud to the authorities, as required, for further investigation and potential prosecution. These anti-fraud efforts are designed to safeguard DIL's corporate assets, preserve the Company’s reputation, improve deterrence of fraud in the industry, and generally benefits our customers and the public.
Underwriting Fraud Occurs where a loan application or supporting documentation contains a material misrepresentation or omission of facts bearing on the nature or extent of the risk for which loan is being provided. It induces an underwriter to rely upon the misrepresentations and approve a loan or certain terms that otherwise would not have been issued had the true facts been known.
Internal Employee Fraud Occurs where any alleged misconduct or suspicious, fraudulent and / or illegal activity suspected of being committed against DIL by an employee who either acts alone, or in concert with other third parties.
Any person who suspects that Fraud against DIL is occurring, has occurred or will occur, should report the matter to DIL via e-mail. DIL takes every possible measure to keep all e-mails and calls confidential. DIL appreciates your critical assistance in this fight against fraud.
Please Note: If you are just “shopping around” for mortgage rates, or if you are currently working with another mortgage broker or financial institution, having multiple credit bureau checks done in a short period of time can actually harm your credit rating, as this is often an early indication of fraudulent activity. Credit Bureau checks will show when and who has been checking. Some lenders may refuse to deal with a borrower who has multiple recent credit checks on their credit report, or may require a valid reason why multiple credit checks were done.
• DCANS Investments have not and will never cold call anyone. Our customers come to us, we don’t go to them.