GREFPAC
 

              
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    WHAT IS GREFPAC?
Georgia Real Estate Fraud Prevention & Awareness Coalition 
January 2006
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YOU CAN PREVENT MORTGAGE FRAUD DO's & DON'Ts

The prevention brochure is broken down into two index cards.  Click on the adjacent links to view the cards individually.  

 

       

 

HISTORY OF THE COALITION                               Mission Statement

Mission:
The Georgia Real Estate Fraud Prevention and Awareness Coalition (GREFPAC) is
comprised of concerned individuals and professionals from all aspects of the
real estate industry, working together with federal, state and local regulators
and law enforcement agencies, to create environments that promote honesty,
openness & fairness in real estate transactions.
 
Core Values
* Promote public awareness through information and education
* Prevent real estate and mortgage fraud;
* Facilitate cooperation among and between concerned individuals, industry
partners, regulators and law enforcement agencies;
* Pursue compliance with, and enforcement of, existing regulations and statutes;
and
* Develop and promote industry practices and regulatory and statutory reforms
that will benefit consumers and industry partners

           The entity that is now called GREFPAC (Georgia Real Estate Fraud Prevention and Awareness Coalition) traces its origin to communities in two neighboring Georgia counties, which were ravaged by mortgage fraud beginning in 1996.  Galvanized by outrage at the impacts upon their families’ and neighbors’ quality of life and safety, members of those communities joined together, bound by resolve to fight for their home values and communities rather than flee.  They became voices for many, many other communities articulating community damage.  Their message: Mortgage fraud is not just a white-collar crime issue showing up only as losses to huge lenders. Also true 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 victimized communities: deteriorated and damaged homes affecting home values, foreclosures cycling again into fraud, skewed tax assessments, squatters, drug traffickers, 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.  This truth inspired leaders of great character in the Georgia real estate industry to step forward, determined to make an ethical difference.  The story of the growing problem was taken to 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, brokers, insurers, and closing attorneys.

The first official meeting of the Georgia Real Estate Fraud Coalition was held 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 not only to great need - as Georgia’s status ranks at the top for states impacted by mortgage fraud- but most especially to the teamwork of individuals volunteering their expertise and time for the greater good and integrity of Georgia industry and community.  Under such strong leadership, 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.  In October 2004, GREFPAC held its first annual conference, which was a “booked to capacity”, all day educational effort, presented and attended by the full spectrum of those addressing and affected by mortgage fraud.

 

ACHIEVEMENTS:                                             2003-2004 Goals

 President, Debra S. Brown                                     

During 2003-2004, GREFPAC members diligently fought fraud by continuing to raise public awareness through education and participation in community events.  We also reached out to other communities around the country to share our common experiences and learn from each other.  We continued our commitment to education by providing excellent speakers at our quarterly meetings, and we began plans for the first annual Fraud Convention held in October 2004. 

Here are just a few of the many things accomplished by GREFPAC and it’s dedicated members this year:   

  •       After hosting many workshops with industry focus groups, our Education Team developed a “Best Practices” booklet for the mortgage and real estate industry; (a big thank you goes to AppIntel for sponsoring the publication);

  •       We partnered with the Latin American Association to translate the “Dos and Don’ts Card” for consumers into a Spanish-language version which is now available on our website;

  •       Several GREFPAC members participated in Atlanta’s Multi-Cultural Housing Fair, hosted by the Latin American Association;

  •       For the third consecutive year, we provided an educational information booth at the Gwinnett County COPS Festival;

  •       GREFPAC members participated in the KAHBAC Conference;

  •       GREFPAC’s President and two Board members attended a two-day anti-fraud conference in Baltimore;

  •       And as always, we provided speakers for education and awareness to all aspects of the real estate industry including: Realtors, Appraisers, Mortgage Brokers, Mortgage Lenders, Mortgage Servicers, Closing Agents and Title Companies.

 

ACHIEVEMENTS:                                             2002-2003 Goals

During 2001 – 2002, the coalition achieved the following:

 

  • Incorporated as a non-profit organization with a change in the name to Georgia Real Estate Fraud Prevention and Awareness Coalition.

  • Created and published the “Stopping Fraud Before It Starts” brochure for the real estate industry.

  • Created and Published the “Dos and Don’ts Index Card” for consumers.

  • Compiled and distributed a comprehensive list of websites for fraud research.

  • Produced a video on mortgage fraud as reported by a local news station.

  • Developed a database for membership and email method of communication between the members.

  • Provided speakers for education and awareness to all aspects of the real estate industry including: Realtors, Appraisers, Mortgage Brokers, Mortgage Lenders, Mortgage Servicers, Closing Agents and Title Companies.

  • Partnered with the Attorney General’s office to hold a public forum in Gwinnett County with over 200 people in attendance.

  • Provided an education booth at the Gwinnett County COPS Festival.

  • Raised over $5,000 in donations.

  
 
   
 

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