Chattanooga, Tenn., has earned the unwelcome status of the riskiest metropolitan statistical area (MSA) for mortgage fraud, according to the latest Mortgage Fraud Risk Report issued by Agoura Hills, Calif.-based Interthinx.
Interthinx reports that the Chattanooga MSA rose 39% on Interthinx's mortgage fraud index. Not to be outdone, the New York City MSA has made a precipitous rise in the mortgage fraud rankings, climbing to sixth place during the second quarter of this year from 17th place in the first quarter. In addition, five New York City area ZIP codes – including three in Brooklyn – are now among the top ten riskiest ZIPs in the nation.
Nevada, Arizona and Florida were the riskiest states for mortgage fraud. However, Interthinx President Kevin Coop points to Georgia as a rising trouble spot.
‘An 8 percent increase in Atlanta, along with a 20 percent increase in Augusta, a 10 percent increase in Columbus, a 16 percent increase in Gainesville, and a huge gain of 39 percent in the Chattanooga MSA- which spans both Tennessee and Georgia – combined to push Georgia into the top five states for the first time since we began this report,’ says Coop.
The full report is available online.