2.7%
QoQ Mortgage Fraud Increase
The CoreLogic Quarterly Mortgage Fraud Brief analyzes the metro areas with the highest mortgage fraud risk on a quarterly basis and offers insights based on the analysis of trends found in residential mortgage loan applications processed by LoanSafe Fraud Manager.
- Factors causing increases in fraud risk
Fraud risk was up slightly quarter-over-quarter, but relatively flat year-over-year. This continues a trend we have witnessed over the past several quarters, despite the high level of purchase loans relative to refinances. Purchase loans are traditionally higher risk compared to refinances. - Metros where fraud risk is the highest
Quarter-over-quarter, the same 15 riskiest metros we observed in Q3 are still in our top 15, with minor changes in overall risk noted in each metro. - Areas of concern
Many of our clients have noted that instances of income falsification have increased. The current trend centers around borrower income being inflated by a new, high-wage job after previously being self-employed.
Read the report to get more in-depth insights in the Quarterly Mortgage Fraud Brief and see how you can better protect your business from the growing risk of mortgage fraud.
