It’s practically an iron law that as industries convert to online commerce, fraud rises, and now this effect is turning up ..
Mortgage App Fraud On the Rise in Daily Dose, Data, News, Origination September 13, 2018 813 Views Fraud risk is up, according to the latest corelogic mortgage fraud report. According to the report.
Mortgage application fraud is on the rise By Joanne Atkin in Features , Fraud 8th april 2013 0 CIFAS has published its latest Fraudscape report showing where the shifts in different types of fraudulent activity are occurring.
The Growth of Mortgage Fraud. Mortgage fraud is on the rise for multiple reasons: Rising Demand for Homeownership: U.S. homeownership rates hit 64.2%, according the the U.S. Census data released in January, 2018. Homeownership has been on the rise since 2016, when it hit a 50-year low of 62.9%.
Borrowers will go through the application and claim the subject property is a primary residence, rather than an investment property. Pricing for primary residences is generally more favorable than that of investment properties, and occupancy fraud is on the rise due to the surge of interest in rental properties and house flipping.
(Heraldkeeper via COMTEX) — Mortgage fraud is on the rise, according to a new report from CoreLogic, a real estate data firm. Approximately one in every 109 mortgage applications.
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United Trust Bank (UTB) has introduced an app-based facial recognition service. with hard copy documents and mitigates.
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Bridget Berg, the Senior Director of Fraud Solutions Strategy, says that as credit requirements loosen and LTVs on loans continue to rise, mortgage application fraud is going to continue to increase. Loan funding is getting more and more competitive.
United Trust Bank has launched an electronic facial recognition’ ID verification service through a bespoke smartphone App.
Defects, fraud and misrepresentation in mortgage loan applications increased by 2.5% in April – marking the fifth consecutive month of loan defect increases – according to First American.
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Mortgage fraud risk is up across the country, according to the corelogic national mortgage application fraud Risk Index (FRI) for Q1 2017. The FRI is a measure of loan-application level fraud risk.