I’m using a throwaway account for this. Recently, I was hired as a Property Manager at a 200+ unit complex owned by a huge corporate company with properties all over the country. Today, my regional manager mentioned a ‘new corporate account’ added to boost our numbers for an upcoming refinance. The catch? This account isn’t real and will never actually occupy the 20+ units. I suspect it’s an LLC owned by the same company. They’re signing leases and collecting rent, but no one will live there. When I raised concerns, I was told they’ve done this before to help with refinancing. I feel like this is mortgage fraud, and I’m uncomfortable being a part of it. If I report this, what protections do I and my staff have? Can I report it anonymously? Is it even worth it?
It really depends on your state’s whistleblower laws. I’d recommend looking that up and maybe talking to a local attorney about it. Participating in mortgage fraud is definitely a bad move.
This sounds really sketchy. You should document everything that’s happening. If you choose to report it, having a record will help protect you.
Honestly, this is a big deal. Mortgage fraud is serious and can have major legal consequences. Reporting it could not only protect you but also other staff members who might not even know what’s going on.
You can usually report these things anonymously through a hotline or a regulatory agency. It might be worth looking into that option.
If you’re feeling really uncomfortable, trust your instincts. Even if it’s tough, doing the right thing is always worth it in the long run.