Latest CoreLogic Report Shows Increase in Mortgage Fraud Risk
Tuesday, October 18, 2016
CoreLogic released its latest Mortgage Fraud Report. As of the end of the second quarter of 2016, the report shows a 3.9 percent year-over-year increase in fraud risk, as measured by the CoreLogic Mortgage Application Fraud Risk Index.
The analysis found that during the second quarter of 2016, an estimated 12,718 mortgage applications, or 0.70 percent of all mortgage applications, contained indications of fraud, as compared with the reported 12,814, or 0.67 percent in the second quarter of 2015.
The report includes detailed data for six fraud type indicators that complement the national index: identity, income, occupancy, property, transaction, and undisclosed real estate debt.
Among the highlights of the report is that California is not one of the top five highest risk states. However, out of the top 25 metro areas with the highest application fraud risk, four are in California.