The entity that is now called GREFPAC (Georgia Real Estate Fraud Prevention & Awareness Coalition) traces its origin to two Georgia communities – one in DeKalb County and one in Gwinnett County – which were ravaged by mortgage fraud beginning in 1996.

Galvanized by outrage at the impact upon their families’ and neighbors’ quality of life and safety, two women joined together, bound by resolve to fight for their homes and communities rather than flee. They became voices for many, many other communities telling the story of community damage. Their message: Mortgage fraud is not just a white-collar crime issue showing up only as losses to huge lenders. The real victims are the damaged neighborhoods whose families must live and raise children in the midst of irresponsible, dangerous career criminals.

Lists of collateral damages began flooding in from the victimized communities: deteriorated and damaged homes affecting home values, foreclosures cycling again into fraud, skewed tax assessments, squatters, drug traffickers, and prostitution and car theft rings, code violations, dangerous dogs, violence, and shootings.

While mortgage fraud was not a new concept to the lending industry and regulators, the emerging story of community impact did give a startling new perspective: Mortgage fraud is indeed a public safety issue. A leader in the Georgia mortgage banking industry stepped forward and became the third of what became known as the “All Broad Fraud Squad.” She represented “industry that stepped up to the ethics plate”, determined to make a difference. She brought with her valuable connections and expertise.

The trio took their message to all who would listen: local police precincts, county DA’s, state regulatory agencies, the State Attorney General, the U.S. Senate, the FBI, the U.S. Attorney’s Office, and each facet of the real estate industry including real estate agents, appraisers, lenders, insurers, and closing attorneys.

Overcoming much cynicism (“You’ll never get all parts of industry to work together.”  “It’s the cost of doing business.”  “There are too many conflicts of interest and so much competition.”), the trio brought together the first official meeting of the Georgia Real Estate Fraud Coalition in March 2001.  With every meeting thereafter, the coalition has grown with new members and broad representation among law enforcement, regulatory agencies, communities, and industry representatives.

GREFPAC attributes its continuing growth and momentum to great need – as Georgia status ranks among the top for states impacted by mortgage fraud – and most especially to the active response by individuals whose firm commitment to ethics drives them to act as part of a team dedicated to the greater good for Georgia industry and community.

Under the strong volunteer leadership of industry professionals, GREFPAC has made great strides in education and awareness.  Accomplishments include creating and publishing:
The “Stopping Fraud Before It Starts” brochure for the real estate industry,
The “Do’s and Don’ts Index Card” for consumers – in both English and Spanish,
The “Best Practices for the Mortgage Industry” booklet.

GREFPAC has also produced educational videos, and has provided speakers to educate and motivate all aspects of the industry and community groups. GREFPAC has developed a web site posting contact information, educational tools, articles, legal action updates and valuable links.

GREFPAC has partnered with county level law enforcement, the FBI, the U.S. Attorney’s Office, and the State Attorney General’s Office in educational forums. GREFPAC’s Annual Conference will be presented and attended by the full spectrum of those addressing and affected by mortgage fraud.