By CHUCK GREEN Alleged bad behavior and fraudulent activity in the mortgage industry have made news headlines in recent years and despite attempts to get lending leaders to shape up their ships, at least one person who reports on these issues says problems are common, even “rampant.” One of the most recent examples of these…
Mortgage lending is a hot target for fraudsters in the U.S., and the situation has grown worse since the pandemic began, according to a new report from LexisNexis. The LexisNexis True Cost of Fraud Study: Financial Services and Lending examines fraud trends in North American financial services and lending sectors. The 2021 edition is based…
Mortgage fraud rose 37.2% year-over-year (YOY) through Q2, reaching pre-pandemic levels, according to CoreLogic’s latest Mortgage Fraud Report. The increases are artificially high given the significant drop in fraud during 2020, which was driven by jumps in traditionally low-risk refinances. The current level mimics mid-2019. “Refinance opportunities that surged lending volumes during the pandemic may…
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