Conventional Mortgage Applications Have High Rate of Errors
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Figure you're protected from mortgage fraud because you have a conventional conforming loan? The analysts at CoreLogic say don't be so sure. According to their data, 1 in 200 mortgage applications for conforming loans include mistakes that could ultimately lead to default
. The most common kinds of misrepresentations were related to income and identity. What's your best protection from unscrupulous lenders? Read all the fine print on all paperwork before you sign.