Salt Lake City, UT / August 20, 2007 / Perfect Home Living Press Release / --  If you mention the word trouble you're sure to hear the words real estate market not too far behind.  The severity of the housing debacle is reaching epidemic proportions and at the heart of it all is the mortgage lending industry itself. 

Losses are mounting and in an effort to combat those losses mortgage lenders are turning to its employee base for relief.  Capital One according to reports in the Wall Street Journal and USA Today is closing GreenPoint Mortgage with an employee base of 1,900.  The Atlanta-based SunTrust Bank is cutting its workforce by 7% and Countrywide Financial the nation's largest mortgage lender has announced that an unspecified amount of employees will lose their jobs. 

The hardship of not being able to pay the mortgage has now spread to include those employed within the mortgage lending industry.  "This has and continues to be a difficult time in the mortgage lending industry and the real concern now is will fraud within the housing sector morph as 'insider intelligence' filters out into the private sector," says Sheri Fitzpatrick, CEO of Perfect Home Living. 

But while damage control by some mortgage lenders like Countrywide who recently have used full-page advertisements in newspapers to restore faith to the general public, have done little if anything to curtail insiders and those recently laid off from profiting in ways never before imagined. 

Remember Robert Mayer, a former employee of the VA Regional Loan Office in Manchester, New Hampshire who was sentenced to 63 months in prison.  Mayer's duties included hiring contractors to repair, maintain and sell residential properties the VA was required to purchase when veterans defaulted on mortgage loans that were partially guaranteed by the VA.

Mayer plead guilty to conspiracy and bribery charges after dishonestly manipulating VA contract awards and payment procedures for four contractors whom he awarded  more than $4 million in contracts over a five-year period. 

From financial lending institutions to government sponsored entities the possibilities for insider fraud is skyrocketing with little to no end in sight.  "Lenders have to become more proactive in their protection of housing assets and consumer information, otherwise markets should prepare for catastrophic losses," Fitzpatrick added.    

About Perfect Home Living 

Perfect Home Living is a nationally recognized leader that assists in implementing programs and providing training and education to financial lenders , government entities, consumers and licensed professionals to red flags within today's  real estate market.   For more information or to request assistance please visit us online at:  http://www.PerfectHomeLiving.com