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CoreLogic: Mortgage Fraud Risk Up in Q2

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The risk of fraud in mortgage applications increased in the second quarter, rising to a score of 133 on CoreLogic’s National Mortgage Application fraud risk index. That’s up from a score of 132 in the first quarter and up sharply from a score of 113 in the second quarter of 2016.

The report shows a 12.4 percent year-over-year increase in fraud risk at the end of the second quarter, as measured by the CoreLogic Mortgage Application Fraud Risk Index.

FactGem Mortgage Fraud Demo mortgage fraud risk sees substantial increase in Q2 2018.. In its latest mortgage fraud report, CoreLogic determined that mortgage fraud risk was up 12.4 percent compared to the previous year.

Lower mortgage interest rates and rising refinance share led to an 11.4% annual decrease in the risk of fraud in mortgage applications in the second quarter, CoreLogic’s Mortgage Fraud Report shows. It was the first time since the third quarter of 2016 that the risk of fraudulence decreased on an annual basis.

Mortgage Bankers Association’s Risk Management’s QA & Fraud Prevention Forum starts on Sunday.If you’re attending, visit CoreLogic at booth 3 or in the Arkansas Room on Level 2. And be sure to attend the "Looking Beyond the Loan Level" panel with Amy Gromowski, senior leader, Science & Analytics at CoreLogic.

The CoreLogic annual mortgage fraud report analyzes the collective level of loan application fraud risk the mortgage industry experienced from Q2 2017 to Q2 2018. The annual report includes: The number of mortgage applications estimated to have indications of fraud; The Mortgage Application Fraud Risk Index – National and Most Populous CBSAs

That’s without considering the current risks related to the ongoing U.S.-China trade war, or flashing recession signals, or.

At the same time, shares of refinance transitions increased from 31% in Q1 to 35.5% in Q2. The risk levels from refinance segments decreased anywhere from 12% to 30%, according to CoreLogic.

That’s without considering the current risks related to the ongoing U.S.-China trade war, or flashing recession signals, or.

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The 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.