Mortgage app fraud risk levels off, except in Texas and Florida

Mortgage app fraud risk levels off, except in Texas and Florida

Yes, mortgage brokers are regulated on both the federal and state level, and must comply with a large number of rules to conduct business. Additionally, consumers are able to look up broker records via the NMLS to ensure they are authorized to conduct business in their state, and to see if any actions have been taken against them in the past.

The report shows a 12.4 percent year-over-year increase in fraud risk at the end of the second quarter, as measured by the CoreLogic mortgage application fraud risk index.

 · We mortgage 7 years ago when it was tough to get a mortgage on a second home. Wells Fargo was tough but ok to deal with. We got a rate of 4.35% for a 15 year mortgage.

The company's National Mortgage Application Fraud Risk Index. income, claiming new employment (often a first job out of college) or a recent.

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Florida was identified as the highest fraud-risk state along with New York and Hawaii because of high levels of income misrepresentation and undisclosed mortgage debt, according to CoreLogic, a.

Website/mobile app: The website has a handy coverage calculator that suggests an appropriate amount of liability coverage and a deductible based on basic data like the type of home you own, your age, net worth and level of risk tolerance. The company’s home gallery app allows you to record a virtual home inventory of your personal property.

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CoreLogic's National Mortgage application fraud risk index (index) reported. Eight of the top 15 highest-risk CBSAs are in Florida, which continues. one of three with the highest levels of mortgage-application fraud risk.. The Defect Index, however, is down 6.8% from its peak of 6.8% in October 2013.

CoreLogic (NYSE: CLGX), a leading global property information, analytics and data-enabled solutions provider, today released its latest mortgage fraud report. The report shows a 12.4 percent year-over-year increase in fraud risk at the end of the second quarter, as measured by the CoreLogic Mortgage Application Fraud Risk Index.

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