CMFC study plan

Map the mortgage fraud landscape by categorizing fraud-for-profit versus fraud-for-housing schemes and listing at least six scheme types under each category

Diagram the full origination lifecycle from application through post-closing review, labeling each stage with the participant roles involved and the documents generated

Identify at least ten fraud vulnerabilities embedded in origination workflows and match each to the stage where it occurs

Define core terminology (straw borrower, occupancy fraud, air loan, flip, churning, short sale fraud) with a working definition and one example for each

Trace how income, asset, and credit documentation flows from borrower to underwriter and pinpoint where misrepresentation can enter undetected

Compare occupancy fraud, income fraud, asset fraud, and credit/identity fraud by their red flags, typical perpetrators, and detection methods

Analyze how identity theft and synthetic identity construction differ, including which data elements are fabricated in each

Practice reconciling a stated income figure against supporting documentation and documenting discrepancies in writing

Evaluate appraisal and property valuation fraud schemes, including inflated valuations, comparable selection manipulation, and appraiser coercion

Identify the warning signs of an overvalued property and explain how flip schemes and property flips are structured to defeat valuation controls

Explain the role of the appraisal review process and automated valuation models in detecting valuation fraud

Distinguish occupancy misrepresentation from valuation fraud when both appear in the same loan file

Profile fraud schemes initiated by loan officers, brokers, builders, and settlement agents, noting the incentive structure that drives each

Build a red-flag checklist organized by origination stage so a reviewer can screen a file systematically

Apply detection techniques to a sample file narrative and rank findings by severity and likelihood

Draft opening, probing, and clarifying questions for an investigative interview with a loan officer suspected of document alteration

Demonstrate investigative interviewing technique by scripting a full interview sequence that moves from rapport building to confrontation without leading questions

Explain chain of custody, evidence preservation, and documentation standards for electronic and paper records

Outline the structure of a fraud investigation report from referral through findings and recommendations

Differentiate an internal investigation from a referral to law enforcement and describe what triggers each

Summarize the key federal statutes and regulations bearing on mortgage fraud, including reporting obligations and prohibited acts

Explain the roles of the CFPB, HUD-OIG, FBI, and state regulators in mortgage fraud enforcement

Describe Suspicious Activity Report filing triggers, timing, and confidentiality requirements

Identify compliance program elements that support fraud prevention and describe how a lender's quality control plan fits in

Revisit industry-participant schemes and connect each to the specific regulatory or legal exposure it creates

Work through practice scenarios that combine regulatory and investigation content to test cross-domain reasoning

Audit personal weak spots from prior weeks and build a targeted review list of at least fifteen concepts

Practice articulating the distinction between fraud, misrepresentation, and negligence in exam-style explanations

Complete two timed full-length practice sets under exam conditions and score each by domain

Review every missed item and write the underlying rule or red flag it tested

Rehearse the highest-yield detection and interviewing frameworks from memory without notes

Confirm readiness by identifying any domain still scoring below target and scheduling final review