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Mortgage Fraud Risks Rise, Especially Income Fraud
Thursday, September 13, 2018
The risk of mortgage fraud jumped by 12.4
percent on an annual basis in the second quarter, the seventh consecutive
quarter in which it has increased.
CoreLogic said its Mortgage Application Fraud Risk Index now puts the
rate of fraud at 0.92 percent or one of every 109 mortgage applications received. In the second quarter of last year the index
was 0.82 percent or 1 in 122 applications. The increase was present in all market
segments, but the segment for conforming mortgages with loan-to-value (LTV)
ratios of 80 percent or less experienced the largest.
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