As Mortgage Rates Rise, So Does Mortgage Fraud

 

  • Mortgage fraud rose by 12.4 percent year over year in the second quarter of 2018.
  • Income falsification is the fastest-rising form of mortgage fraud, up by 22.1 percent on an annual basis.
  • California ranks as the country’s ninth-riskiest state for mortgage lenders.



CoreLogic’s 2018 Mortgage Application Fraud Risk Index rose by 12.4 percent in the second quarter from the same period in 2017. The company estimates that one in 109 mortgage applications — or 0.92 percent — contain false information.


Income falsification is the fastest-rising source of mortgage fraud, up by 22.1 percent from the second quarter of 2017. Read more @bethanywpatten
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