Our 2024 Annual Mortgage Fraud Report shows relative stability in fraud risk levels year-over-year, with an 8.3% increase in fraud risk at the end of the second quarter of 2024. High interest rates keeping loan volumes below norms is a primary driver for the minimal changes in the risk index.
Segments with increasing risk since Q2 2023 include investment purchases and refis (up 11%), FHA purchases (up 7.5%), and 2- to 4-unit purchases (up 5%).
We estimate that in the second quarter of 2024, 0.81% of all mortgage applications were estimated to contain fraud, about 1 in 123 applications. The highest risk segment remains 2- to 4- unit properties, with 1 in 27 transactions estimated to have indications of fraud.
Additional insights into these topics and more can be found by reading our 2024 Annual Mortgage Fraud Report.
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