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CoreLogic Finds Mortgage Fraud Returning, Locus Shifting

Monday, December 14, 2015

Could mortgage fraud be coming back?  According to Bret Fortenberry, writing in CoreLogic's Insights blog, there are indications the incidence is rising.  Fortenberry says the housing industry professionals agree that origination fraud peaked between 2005 and 2008, a period that offered unprecedented opportunities to manipulate the system.  The increase regulation, improved controls, and tightened lending standards that followed strongly reversed the trend and fraud rates have been very low in the last several years. 

Looking toward 2016 however Fortenberry says that it is likely the loosening credit guidelines and a recovery of the purchase mortgage market will again return some of the opportunities and motivation for fraud.  One possibility is that inflated home prices will be used to cover misrepresentation of down payments.

 

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