TORONTO, ONTARIO–(Marketwired – Jan 11, 2017) – Equifax Canada (EFX) data suggests high-risk and suspected fraudulent mortgage activity is on the rise noting a 52 per cent increase in suspected.
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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, acco
Mortgage fraud is on the rise, and here’s what that means to you. Application fraud was found in one of every 122 mortgage applications during the first two quarters of 2017, according to Bridget Berg, CoreLogic’s senior director of fraud solutions strategy. During the same period in 2016, one of every 143 loan applications had signs of fraud.
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A potential Brexit deal as well as progress in the trade talks with China caused a sharp rise. and mortgage rates – just.
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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.
The rate of defects found on mortgage loan applications is on the rise, according to a new report from First American Financial ().. First American’s Loan Application Defect Index for July found.
The second is the lending level, where the fraud is committed by persons directly involved in the mortgage lending or origination (broking) process. The consequences of the discovery of mortgage fraud in a portfolio can have a devastating affect on a licensee, registrant or broker organisation, even if the company is a victim of fraud.
There was a significant increase in mortgage fraud risk at the end of the. of 2018, according to Corelogic's latest mortgage application fraud.
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(CNBC) On today’s economic calendar, weekly mortgage applications are set to be released at 7 a.m. ET and August’s. in.
Here’s what the corelogic 2016 mortgage fraud Report reveals as fraud on the rise across the country and. CoreLogic: Mortgage fraud risk falls 8.9% in 2Q – As of the end of the second quarter of 2015, CoreLogic reports an 8.9% year-over-year decrease in fraud risk, as measured by the Mortgage Application fraud risk index. For the twelve months ending the.
Florida must stop shadow lenders arranged for two loans totaling $28,000 in the names of Baker and her husband that were facilitated by a company called GreenSky, according to an affidavit Baker would later file in court. Baker’s.
Because of the growth in mortgage fraud, some states have moved to. Employment information/history on the loan application is not.