Creating Fake Paycheck Stubs? Bad, Bad Idea.

I got an email this morning from someone who works in the mortgage industry and they were talking about how they couldn’t believe that someone could get away with something like this:

Apparently there are software packages that can help a borrower (or anyone else I suppose) create fake paycheck stubs.

Is it any wonder that “liar loans” are performing “worse than expected”?

On a related note — it looks like the FBI is cracking down on parts of mortgage fraud with 36 people arrested recently for mortgage fraud in Arizona.

Not to give the FBI any pointers, but I can’t-for-the-life-of-me-think-of-one-good-reason-for-anyone-to-create-a-fake-paycheck-stub.

Not one.

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