Mortgage Application Fraud Highest in Florida

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Posted To: MND NewsWire

CoreLogic says that, while the incidence of mortgage fraud has remained relatively stable in recent quarters, income fraud remains a growing problem. The company's National Mortgage Application Fraud Risk Index increased only slightly in the first quarter of 2019 from the end of 2018 and is at 152. This is a 6 percent increase year over year from 144 in the first quarter of last year. Florida remains the fraud capital; eight of the top 15 metro areas on the fraud index are in the state. Number 1 is the Miami, West Palm Beach, Fort Lauderdale area with an index of 404 although this was a 9 percent decline from Quarter 4. Trailing in second place was Daytona at 261 followed by the New York City/New Jersey area at 257. CoreLogic says the category of income fraud is becoming increasingly sophisticated...(read more)

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Source: http://www.mortgagen...

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