The risk of fraud in applications for mortgages increased in the second quarter – and the trend will likely continue as credit loosens and purchases increase, CoreLogic says in its latest Mortgage Fraud Risk report. The report measures six common types of fraud: identity, income, occupancy, property, transaction and undisclosed real estate debt.
As of the end of the second quarter of 2017, the report shows a 16.9 percent year-over-year increase in fraud risk, as measured by the CoreLogic Mortgage Application Fraud Risk Index.
The california core mortgage risk Monitor (CMRM) is a quarterly publication providing an economic forecast, analysis and commentary on the relative risk of residential mortgage loan delinquencies due to fraud propensity and collateral risk, house price dynamics, and the health of local market economies.
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. fraud in these categories might crop up. CoreLogic’s researchers credit new regulations and greater scrutiny on creditworthiness as factors in rooting out fraud. The CoreLogic Mortgage Application.
CoreLogic data includes more than 50 million properties with a mortgage, which accounts for more than 95 percent of all mortgages in the U.S. CoreLogic uses public record data as the source of the MDO, which includes both first-mortgage liens and second liens, and is adjusted for amortization and home equity utilization in order to capture the true level of MDO for each property. The calculations are not.
about the Core Mortgage Risk Monitor contact contact Dr. Mark Fleming, First American CoreLogic at m firstname.lastname@example.org. Executive Summary Relative to the base period of Q1 2002, the Q2 2007 Core Mortgage Risk Index (exhibit 2) is holding relatively steady, posting a small, 6% increase, bringing the index back to the base period level. The.
25, 2013 /PRNewswire via COMTEX/ — CoreLogic. Q2 2013: — The total dollars of fraudulent mortgage loan applications increased in 27 states compared to a quarter ago. — Ohio had the highest.
A rising HCI indicates increased credit risk while a falling index score means reduced credit risk. frank nothaft, chief economist at CoreLogic. and no-documentation loans ticked up 0.2 points to 1.
ALSO READ: 25 Best College Towns in America The hci measures credit risk on six metrics. Low- and no-documentation loans ticked up 0.2 points to 1.7% of the mortgage market. The full report is.