Greetings neighbors,

Some big names in the industry have decided to join forces to fight mortgage modification scams.

Fannie Mae and Freddie Mac have decided to launch a national campaign called the Loan Modification Scam Prevention Network to stop loan modification scams within the real estate industry.

This network will consist of community development and affordable housing organizations such as Lawyer's Committee for Civil Rights Under Law and NeighborWorks America. The chief purpose of the network will be to educate borrowers, receive complaint reports, and to communicate with local, state, and federal enforcement agencies.

The Loan Modification Scam Prevention Network will have a website available which will name both individuals and companies that have been recognized by law enforcement agencies to have allegedly committed scams within the loan modification process.

Note: Other partners of the Loan Modification Scam Prevention Network include:

Treasury Department, the Department of Housing and Urban Development, the Department of Justice, Federal Bureau of Investigations, the Federal Deposit Insurance Corp. and the Federal Trade Commission.