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CoreLogic: Mortgage Fraud Risk Up in Q2

PRESS RELEASE Discounted Fraud Prevention FIRST AMERICAN CORELOGIC INTRODUCES "2X" MORTGAGE FRAUD PREVENTION GUARANTEE– guarantee leverages newly patented Pattern-Recognition Technology That Identifies Twice the Level of fraud verses alternative solutions: santa ana, Calif. — (Oct. 1, 2009) First American CoreLogic, a member of The First American Corporation.

In fact, we have seen increases in our fraud risk index for seven consecutive quarters. In the last year, from Q2 2017 to Q2 2018, the fraud risk index grew by 12 percent. We base our Fraud Risk Index on the predictive score delivered with LoanSafe Fraud Manager, which compares current loan application patterns to our database of known frauds.

New CoreLogic® Data Reveals Q2 Negative Equity Declines in Hardest Hit Markets and 8 Million Negative Equity Borrowers Have Above market rates. mortgage application, fraud, and loan.

The risk of mortgage application fraud fell in the second quarter of 2019 thanks to a decrease in interest rates. According to CoreLogic’s National Mortgage Application Fraud Risk Index, fraud risks on mortgage applications decreased by 11.4% year over year last quarter. At the same time, shares of refinance transitions increased from 31% in Q1 to 35.5% in Q2.

 · The number of high-risk markets for Q3 2017 Housing Market Indicators has increased by six from Q2 to Q3 in 2017. Besides the high price appreciation across many metro areas, flipping activities and fraud activities continue to pick up, signaling more short-term speculation and mortgage fraud, which should be closely monitored.

According CoreLogic, the continued shift from a refinance-heavy market to a predominantly purchase market is a key factor in the application fraud risk increase. From Q2 2017 to Q2 2018, the proportion of purchase transactions within the consortium increased from 66 percent to 72 percent of applications, the report showed.

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 · According to a new report from CoreLogic, the risk of mortgage fraud had a year-over-year increase of over 12 percent. More specifically, income fraud saw the biggest increase: from Q2 2017 to Q2 2018, CoreLogic estimates that income falsification rose by more than 22 percent.

the loosening of credit in 2000 to 2007, although it did pick up recent tightening ( figure 1.A). Default Risk Taken by the Mortgage Market, Q1 1998-Q2 2016. Percent. Sources: eMBS, CoreLogic, HMDA, IMF, and Urban Institute.. have been unapprovable by a large margin; and (4) loans with fraud,

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