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Real Estate Briefing - Categorized | Americas, Market Moves, Mortgage more

Mortgage fraud is rising, with a twist

Posted on 23 August 2010

From WSJ: New data suggests that mortgage fraud—which got tougher to pull off after the collapse of the U.S. real estate market—is returning in a big way. Data prepared for The Wall Street Journal by research firm CoreLogic, examining about seven million home loans made by hundreds of lenders, show that losses from mortgage fraud—ranging from falsified credit reports to identity theft—rose 17% last year after declining 57% in the two years after its 2006 peak.

In 2009, $14 billion in loans, or about 0.7% of all mortgage loans made in the U.S., were originated with fraudulent application data…………………………………….Full Article: Source


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Laxman - who has written 28515 posts on Opalesque Real Estate Briefing.


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