From Daily Real Estate News, June 9, 2010
A report analyzing national mortgage fraud risk in the first quarter of 2010 says it has increased by 4 percent compared to the fourth quarter of 2009 and is up 11 percent from the first quarter a year ago.
Other findings from risk analytics company Interthinx included:
* Arizona surpassed California as the state with the highest fraud risk. Nevada, California, Florida and Michigan rounded out the top five.
* Property valuation fraud risk was the primary driver of the index.
* Identity fraud risk and employment/income fraud risk both increased 10 percent from the fourth quarter of 2009.
* Occupancy fraud risk is down by 11 percent compared to the fourth quarter of 2009, but analysts believe it may trend upward if shadow foreclosure inventory is released for sale.
Source: Interthinx (06/08/2010)
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