The most recent CoreLogic mortgage fraud report once again indicated that fraud risk is on the rise.The report cited a 12.4 percent year-over-year rise in their mortgage application fraud risk index, with income fraud risk reported up 22.1 percent as the highest increase in risk found.
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Fraud in connection with home mortgages is on the rise, ranging from. application fraud was found in 1 of every 122 mortgage applications.
According to mortgage-fraud researchers. Falsifying income is the fastest- growing form of application fraud, but other types of misrepresentations also are on the rise, including occupancy fraud,
According to Fleming, the rise is attributed to a plunge in rates and spike in mortgage applications. As a result, misrepresentation and fraud are more likely on a loan application.” Defect Index.
Mortgage fraud using authentic digital applications are on the rise, according to fraud experts who track about $1 billion in fraudulent credit applications a year.
The Rise of Mortgage Fraud: How to Spot Common Schemes. Mortgage fraud is rising, with criminals devising new schemes to separate people from their money. A difficult economy has placed many people in dire straits with their mortgages.
Rates of financial application fraud have continued to. Read more: This is how many Londoners have been a victim of card fraud in the past year ID theft within mortgage applications is also on the.
New York is the state with the highest risk of application fraud.. Another factor credited with upping mortgage fraud is a rise in the use of.
The District of Columbia was the only region to move up into the top 10 during the second quarter Fraud associated with income, property and undisclosed mortgage debt are most common in D.C. On a.
Mortgage Fraud on the Rise More mortgage loan applicants are committing mortgage fraud by lying on their applications. Experts say a tight lending environment is to blame.
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Mortgage fraud is on the rise as more buyers are inflating their incomes in order to qualify for new purchases. Roughly one in every 109 mortgage applications has some indication of fraud.
Fraud in connection with home mortgages is on the rise. fraud risk in the home mortgage field is up by 16.9 percent in the most recent 12-month period tracked by data analytics firm CoreLogic. And.