Fraud Risk Highest Since 2004

l mortgage fraud risk is the highest it has been since 2004, according to Interthinx's first-quarter Mortgage Fraud Risk Report. Based on the most current data obtained by the company, overall fraud risk increased by 4% from the previous quarter and 11% from the same quarter a year ago to 151 (n = 100). This is the first time since 2004 that the index has exceeded 150. Arizona surpassed California as the state with the highest fraud risk in the first quarter, which Interthinx says is possible due to a migration from neighboring Nevada – similar to that which occurred in 2004 to 2006. Nevada remains in second place, with California, Florida and Michigan rounding out the top five states. After a brief dip in the last quarter, property valuation fraud risk resumed the upward trend that began in fourth-quarter 2007, and it remains the primary driver of the index. Identity fraud risk and employment/income fraud risk are both up around 10% from the last quarter, Interthinx adds, saying employment/income fraud risk is starting an upward trend after a long period of decline. Occupancy fraud risk, meanwhile, is down by 11% – a sharp reversal from last quarter's rise of 16%. The full report is available on Interthinx's [link=]website[/link]. SOURCE: [link=]Interthinx


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