collateral fraud


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Related to collateral fraud: fraudulently, defrauded
ThesaurusAntonymsRelated WordsSynonymsLegend:
Noun1.collateral fraud - fraud that prevents a party from knowing their rights or from having a fair opportunity of presenting them at trial
fraud - intentional deception resulting in injury to another person
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Lender profits can be enhanced with Veros' capability to spot possible collateral fraud in applications--or in pools of existing loans--without needing to spend too much time investigating false positives.
The bank, in turn, has blamed two lawyers from the Mitchell Williams Selig Gates & Woodyard firm for facilitating the collateral fraud by allowing Standridge to "double-pledge" $4 million worth of First Service certificates of deposit.
Future versions of the program will integrate more services into the Total Quality Loan program, including a credit and collateral fraud prevention service powered by CoreLogic.