According to CoreLogic’s latest Mortgage Fraud Report, there was a 12.4 percent year-over-year increase in fraud risk at the end of the second quarter of 2018, as measured by the CoreLogic Mortgage.
Top 10 states for mortgage fraud.. In addition, fraud targeting distressed property owners is on the rise. The financial crimes enforcement Network reports a 58 percent rise in foreclosure.
Occupancy fraud is a scheme used by investors to qualify for higher loan-to-value ratios and lower out-of-pocket costs on purchases, in addition to lower mortgage rates. Occupancy fraud occurs.
Mortgage Fraud is on the rise. Fannie Mae has released a warning for California, but this could be happening anywhere. The National Real Estate Post (Frank Garay and Brian Stevens) have a short 6 minute video titled "Red Flag Fraud Warning from Fannie Mae" about the warning.
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WASHINGTON – It may not have made a big splash on network news or in print, but for real estate it was the equivalent of a congressional declaration of war – a war against mortgage fraud.
And now suspicious activity reports (sars) are on the rise again. In the first quarter of 2011, suspicions of mortgage fraud are up 31 percent from the same quarter last year, according to FinCEN. The.
In conclusion, the FBI is committed to increasing liaison and education efforts and partnering with federal, state, and local law enforcement, and private industry to combat mortgage fraud. The FBI supports new approaches to address mortgage fraud and its effects on the U.S. financial system, to include:
The lawsuit was brought under the False Claims Act by two mortgage brokers in Georgia who allege that the. and civil penalties from 13 lending institutions on behalf of the U.S government. The.
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registered U.S. investment advisers, Investment News reported. In Canada, only a small percent-age of total fraud is reported to law enforcement: one in three Canadians has been targeted by a scammer, yet only 14 percent of fraud attempts THE RISE OF FINANCIAL FRAUD: SCAMS NEVER CHANGE but DISGUISES DO BY KIMBERLY BLANTON February 2012
Many in the mortgage industry are calling attention to a growing, yet under-reported, problem of mortgage fraud, perpetrated not by criminals looking to scam a bank, but by mortgage industry.