Mortgage Fraud Stable; Jumbo Loans at most Risk

Posted To: MND NewsWire

Incidents of fraudulent mortgage applications remained stable in the second quarter of 2015. CoreLogic, in its Fraud Report for the quarter, estimates the number of applications with indications of fraud at 12,814. This is an increase from the 11,100 applications that appeared fraudulent to some extent in the same quarter of 2014. While the numbers are large, as a percentage of all applications the share shrunk from an already miniscule 0.69 percent to 0.67 percent. CoreLogic's Mortgage Application Fraud Risk Index, decreased by 8.9 percent nationally from its Q2 2014 level. Despite the size of that annual change the company says the risk has stabilized. It increased only 0.7 percent from the first to the second quarter of this year. Florida remains the state with the highest overall fraud...(read more)

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