More alarming is that nationally, the risk of occupancy fraud-whereby a borrower lies that a house will be occupied in order to secure a mortgage-rose 24 percent to an index rating of 135.
Property valuation fraud risk rose by nearly 8% during the fourth quarter of 2011, according to the latest mortgage fraud Risk Report issued by Agoura Hills, Calif.-based Interthinx. The Interthinx.
According to the company’s Mortgage Fraud Risk Report, the mortgage fraud risk index climbed to 159, representing a 16 percent increase from Q3 2012 and 9 percent increase from Q4 2011. Interthinx pinpointed the source of the increase to a surge in property valuation fraud risk, which rose 25 percent from Q3.
Miami is now the second-riskiest msa nationwide and is experiencing a wide range of fraud risk types, Interthinx says. It is currently in the top five in three of the four type-specific fraud risks examined: occupancy (first), identity (fourth), and property valuation (fifth).
California Tops Mortgage Fraud Risk Index for Q4/09 AGOURA HILLS, Calif., Feb. 18, 2010 (GLOBE NEWSWIRE) — Interthinx has released its quarterly mortgage fraud Risk Report, covering data.
· In its first-quarter report, Interthinx said its Mortgage Fraud Risk Index rose 4 percent to 151, the first time it had passed 150 since 2004. A figure of.
Interthinx is a leading national provider of comprehensive risk mitigation solutions. "The Employment/Income index in our 2010 Annual Mortgage Fraud Risk Report rose by nearly 30 percent, which could indicate that ‘fraud for property’ is on the increase," said Mike Zwerner, senior vice president of Interthinx.
Among these 91, the riskiest metro is Chattanooga, where mortgage fraud risk rose by more than 30 percent over the quarter. California and Florida metros round out the next nine riskiest metros.
· A fourth quarter report on mortgage fraud across U.S. zip codes indicates that localized risk could pose danger of spreading throughout its metropolitan area. The quarterly Mortgage Fraud Risk Report, released by Agoura Hills, Calif-based Interthinx, tracks overall and type-specific mortgage fraud risk, and found in its most recent data that fraud risk in Chicago’s [.]
Interthinx pinpointed the source of the increase to a surge in property valuation fraud risk, which rose 25 percent from Q3. Read More Mortgage Fraud Decreases in Q3, but Looms Large in Certain.