Document fraud is now one of the fastest-growing sources of bad debt in multifamily—and the tactics are getting more sophisticated. In this episode of Tech Talk with 20for20, Dom Beveridge is joined by Bonnie Smetzer (Asset Living), James Stilwell (Snappt) and Jamie Borodin (Docuverus) to examine how document fraud works, why it has accelerated, and what operators need from modern verification tools.
The panel explores:
How document fraud has evolved: AI-assisted forgeries now mimic both the visual layout and metadata of pay stubs and bank statements, replacing the crude edits of earlier years.
The dual lenses of detection: Effective systems combine deep metadata analysis with visual and contextual checks—plus secondary sources such as bank deposits—to identify tampering or fabricated income.
Market dynamics: Fraud clusters in hotspots like Atlanta, Texas, and Florida before spreading outward, with serial applicants testing defences across regions and property types.
A new challenge in affordable housing: Applicants are now lowering stated income to qualify for restricted-rent units, adding compliance and revenue risk alongside traditional inflated-income fraud.
The operational burden on site teams: Writable PDFs and online applications outpace what leasing staff can reliably evaluate, creating fairness risks and driving adoption of automated screening.
Sponsors for this episode:
Western Reporting, resident screening and income verification by Inhabit
EliseAI, AI-driven automation that helps streamline communications and improve operational efficiency.
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Connect with Dom Beveridge (Principal, 20for20) via LinkedIn, or email to dom@20for20.com.
Our theme, “Beautiful Geometry” by Phish Funk is licensed under a Attribution-NonCommercial 3.0 International License.
