Salt Lake City, UT / January 10, 2007 / Press Release / --  2006 was certainly a year for fraud within the real estate industry.  So much so that those operating within the dangerous world of real estate either sought refuge of consolidation or simply closed their doors forever. 

As Perfect Home Living first reported back on November 20, 2006; Wall Street witnessed some of the greatest consolidation of the subprime lending market ever recorded, as lenders and Wall Street attempted to minimize losses stemming from real estate and mortgage fraud.   

Still as 2007 begins its route towards the history books we can only imagine if more closures and consolidations will be enough to maintain sustainable growth for the housing market.  Already ABN Amro Holding NV, the biggest Dutch Bank and parent of Chicago's LaSalle Bank Corp has announced plans to cut about 900 North American jobs by the middle of 2007.

ABN Chief Financial Officer Hugh Scott-Barrett said the bank might divest some businesses within six to 12 months.

But still more attention is now shifting from the shakeup of lending institutions to the rash of middlemen brokering today's real estate transactions.

Just as with other vertical markets, real estate industry insiders are calling for more transparency within the world of real estate. 

"It is without question that mortgage brokers are looked upon as the eye- sore of the real estate industry when questionable reasoning of rates, terms and conditions remain hidden from public scrutiny," says Sheri Fitzpatrick, CEO of Perfect Home Living. 

Undoubtedly places such as Lending Tree have made mortgage brokering a household name.  Within minutes consumers are given instant contact and loan pre-approval from some of the biggest mortgage brokering housing in the country.  Their aim of course is to service the millions of consumers to the home funding process while being compensated in the process. 

But as the middlemen of the housing market continue to make hefty profits the rest of the housing market continues to suffer major losses stemming from fraud.  

In an on-going series Perfect Home Living will identify trends that allow mortgage and real estate fraud to continue and work to identify unknown middlemen currently operating within the real estate and financial sector. 

About Perfect Home Living 

Perfect Home Living assists in implementing programs and providing training to financial lenders as well as educating Utah's consumers and licensed professionals to red flags within Utah's real estate market.   For more information or to request assistance please visit us online at:  http://www.PerfectHomeLiving.com