Mortgage Application Fraud Highest in Florida

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.

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817.545 Mortgage fraud.. – This section may be cited as the "Florida Communications Fraud Act.. All claims and application forms must contain a statement that is approved by the Office of Insurance Regulation of the Financial Services Commission which clearly states in substance the.

Mortgage Fraud Risk Highest in Florida, New York, New Jersey Based on the latest data from CoreLogic’s mortgage fraud risk index, mortgage lenders in the Miami metropolitan area face the highest.

At top subprime mortgage lender, policies Were invitation to fraud. risky borrowers and catching fraud in the form of falsified loan applications. Florida, Illinois and New York to make Washington Mutual – once a regional.

 · Occupancy fraud – involving borrowers who lie about how they plan to use a property – climbed by 3.5%. The U.S. states where the risk of mortgage application fraud is highest are New York, New Jersey and Florida, according to the report. The metropolitan areas with the highest risks are Miami, Springfield, Mass., and New York.

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So, as refinance share increases, the overall risk of fraud decreases. New York, New Jersey and Florida remained the top three states for mortgage application fraud risk. For the first time since 2017, New Jersey outpaced Florida and moved into the second highest position.

Mortgage loan applications in South Florida had the second-highest rate of defects – including fraud and misrepresentation – among the nation’s 100 largest metro areas in November, according.

817.545 Mortgage fraud. (1) For the purposes of the section, the term "mortgage lending process" means the process through which a person seeks or obtains a residential mortgage loan, including, but not limited to, the solicitation, application or origination, negotiation of terms, third-party provider services, underwriting, signing and.

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How to Spot Equity Stripping, Mortgage Scams, and Loan Modification Scams CoreLogic said its Mortgage Application Fraud Risk Index now puts. the share of mortgage applications having a high risk. The National Index grew from 133 to 149 year-over-year. New York, New.