Mortgage Fraud on Rise

Source: LexisNexis

Mortgage Fraud Continues to Climb According To LexisNexis® Mortgage Asset Research Institute4/26/2010

Incidents of Mortgage Fraud Increase 7 Percent from 2008 to 2009
Florida, New York and California Top List of States with Highest Mortgage Fraud and Misrepresentation Rates

New York, NY – Reported incidents of mortgage fraud and misrepresentation by professionals in the mortgage industry in the U.S. are continuing to climb and increased by 7 percent from 2008 to 2009, according to a new report released today by the Mortgage Asset Research Institute, a LexisNexis® service. While the pace has slowed since the 2007-2008 increase of 26 percent, the continued increase is believed to be attributed to better industry reporting and policing.

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