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Protecting the consumer who is active in the mortgage marketplace is a key duty of the mortgage professional. Regulators and participants in the Canadian mortgage industry have undertaken several initiatives to protect members of the public and to improve the professional standards of its members. Combating mortgage fraud is one of these key initiatives, and is an issue that unites consumers and mortgage professionals. As is the case in all industries, fraud is an unfortunate, yet real part of the environment. Mortgage fraud can be defined as any material misstatement, misrepresentation or omission relied upon by a lender or insurer to underwrite, approve, fund, or insure a mortgage loan. It can range from an individual giving false information in the loan application through to groups of fraudsters acting together to artificially inflate or deflate property values. Mortgage fraud can either take place on its own (i.e., fraudsters obtaining a property that they could not otherwise afford), or as a part of a larger criminal enterprise such as the operation of an illegal indoor marijuana growing operation, or conducted as part of an attempt to launder money.