All of the following participants are involved in the loan process and have the potential to be involved in committing loan fraud, except:

The involvement of participants in the loan process relates to their role and responsibilities, especially in terms of oversight and integrity. Mortgage investors primarily provide the capital for loans but do not typically engage in the process of loan origination or underwriting. Their focus is on the financial aspects of the loans rather than the details of loan origination, which makes them less likely to commit fraud directly tied to the transactions themselves.

In contrast, appraisers, underwriters, and mortgage loan originators (MLOs) are actively involved in the assessment, approval, and recommendation of loans. They have more direct interactions with borrowers and the underwriting process, which puts them in a position where fraudulent activities can occur, whether inadvertently or through malicious intent. Thus, while all participants have a role in the loan process, mortgage investors do not engage in actions that lend themselves to committing loan fraud in the same way other participants do.