Mortgage Application Fraud Skyrocketing By Double Digits

Core Logic Says Mortgage Application Fraud Has Skyrocketed By 12.4% In the Past Year 

mortgage application fraudCore Logic has issued their new Mortgage Fraud Report and it’s not looking good. The report states there has been a 12.4% increase in mortgage application fraud since the second quarter of 2017. This is the highest increase in seven years according to the National Mortgage News.
The report is based on residential mortgage applications processed by CoreLogic LoanSafe Fraud Manager. The data analyzes six indicators on a loan application. These include:
  1. Identity
  2. Income
  3. Occupancy
  4. Property
  5. Transaction
  6. Undisclosed real estate debt
CoreLogic’s Principal of Fraud Solutions Strategy Bridget Berg said:

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