Mortgage fraud rising most in low-downpayment loans

The most common industry professional mortgage fraud scams are air loan and appraisal fraud. The air loan is a loan obtained on a nonexistent property or for a nonexistent borrower.

Financial Institution/Mortgage Fraud The FBI is committed to aggressively pursuing those who endanger the stability of our banking system and the safety of assets and personal information the.

However, even with the small increase in fraud, the report added that an estimated 12,718 mortgage applications, which is less than 1% (0.7%) of all mortgage applications, contained indications of. Items Tagged with ‘High LTV loans’ RSS. ARTICLES. Mortgage fraud rising most in low-downpayment loans.

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Lenders are ramping up efforts to make low-down-payment loans. t be dropped even if rising home prices boost their home equity, now about 10%, to more than the traditional 20% threshold for.

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The Rise of Mortgage Fraud: How to Spot Common Schemes Mortgage fraud is rising, with criminals devising new schemes to separate people from their money. A difficult economy has placed many people in dire straits with their mortgages.

Mortgage Fraud Defined. Mortgage fraud is a material misstatement, misrepresentation, or omissions relied upon by an underwriter or lender to fund, purchase, or insure a loan.

Mortgage fraud is a tricky topic, especially because mortgage loans tend to be confusing. As the housing market gets tighter, and buyers and sellers become more desperate, you can expect mortgage fraud to rise. Armed with the right information, you’ll have the knowledge to keep them at bay.

While mortgage fraud isn’t as prevalent as it once was, there are still cases of it happening. As a mortgage pro, you’re on the front lines of catching mortgage fraud. Check out this post to learn about the 3 most common types of fraud and how to spot them.

The frequency of defects, fraudulence and misrepresentation in the information submitted in mortgage loan applications. for larger loans. Fraud can come in many forms, but income falsification.

Items Tagged with ‘High LTV loans’ RSS. ARTICLES. Mortgage fraud rising most in low-downpayment loans. CoreLogic: Today’s fraud takes "a lot of time" to uncover. September 22, 2016.

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