I need some guidance on paramenters set for reviewing loan accounts for suspicious activity.

I would look for:
Cash collateral.
Unexpected paydowns.

To expand on MagicCity's advice, I look at all large cash payments to loans, and look for any patterns.

Prior thread.

What about issues dealing with falsified documents, providing false information pertaining to employment and/ or income that can't be confirmed, unable to verify CIP information to a credit reporting agency, the major one being social security numbers that cannot be confirmed, loan flipping, straw purchases,identity theft, altered or inflated appraisal reports. I had them all with loans

OK, I know that I am going to feel stupid for asking this, but what is "straw purchases"?

(Hey DQ, note that I did not go anon for this. )

I think a straw purchase is one made to someone who is acting on behalf of a person/entity wanting to hide this ownership.