Mortgage Fraud Trend Down – even $ 14 billion loss in 2009
In the worst mortgage fraud Road America in Orlando (actually have 5 of the top 10 streets)
After the 2010 mortgage fraud report published by CoreLogic, a decreased risk of fraud in the mortgage industry by 25 percent, because in the third quarter of 2007, its peak. Although the downward trend it is still estimated that fraud losses in 2009 alone $ 14000000000.
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core "index logical fraud mayDrill-down to states, cities and even the roads that have the highest mortgage fraud to display. The highlights of the report:
Total mortgage fraud has declined steadily since 2006 and seems to have stabilized in 2009
Short sales volume over the first quarter of 2008 to fourth quarter 2009 by over 300 percent
Nearly one of every 200 Short sales have been sold as "highly suspicious" by banks means that the property was less than 60 days afterthe short sale and the sale price was more than 20 percent higher than the price of short sale.
The most common type of mortgage fraud (31 percent) is related to borrower income.
States with the highest mortgage fraud are endangered in Florida, South Carolina, North Carolina, California and Georgia.
The highest risk are zip codes in Jamaica, New York, Orlando, Florida, Miami, FL, Atlanta, GA and Detroit, Michigan
The line for the highest score mortgage fraud is in Orlando. InIn fact, were the 5 top-10 ten streets with the highest risk of mortgage fraud in the ratio of Orlando. Other cities with roads were among the first 10 Prior Lake, Minnesota, Chicago, IL, Oakland, CA, Atlanta, GA, and Urbana, IL.
How about this? You can also see the "risky path." In the case of the road in Orlando the report did not give a name, but said there were 28 loans on the road from 2007 to 2008, was the same company as the seller in most cases and the properties are nowSales by about 10 percent of what originally "sold" to.
Mortgage Fraud Trend Down – even $ 14 billion loss in 2009
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