Mortgage Fraud: California, New York Rank Highest, Report Says


By Kerri Panchuk

Mortgage fraud activity slowed overall in the third quarter, but California ranks first in home loan fraud, with the state seeing as much as $204.2 million in losses on deceptive mortgage activity.

That's according to a new report from MortgageDaily, which found that lenders victimized by fraud faced inflated appraisals and fraudulent documentation.

California was followed by New York, which experienced $199.6 million in losses from nefarious activities in mortgage finance.

Read the full story at HousingWire

Also see:
Feds Widen Widen Inquiry Of Online Mortgage Scams
Mortgage Fraud Hits New High
Mortgage Fraud Scheme Targets Treasury