Fraud FINALLY on the Decline!
15. Mar, 2010 
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First American CoreLogic’s index of home loan fraud shows that the rate tied to non-subprime loans has declined to 84 from a 2007 peak of about 112. Still, the firm says a quarter of foreclosures reflect "some evidence of fraud" in the mortgage application.
First American estimates that 0.55 percent of mortgages made in 2009 were fraudulent and that the fraud rate for loans insured by the FHA is 1.22 percent. Fraudulent mortgages totaled $14 billion last year; and fraud rates in hot spots like Orlando andMiami , Fla., Atlanta, and Detroit are three to four times the national average.
Source: TheWall Street Journal , James Hagerty (03/15/10)
First American estimates that 0.55 percent of mortgages made in 2009 were fraudulent and that the fraud rate for loans insured by the FHA is 1.22 percent. Fraudulent mortgages totaled $14 billion last year; and fraud rates in hot spots like Orlando and
Source: The
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