November 22, 2024 7:36 am
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Falsified mortgage applications on the rise

mortgage applications
Nemortgage applicationsw York Times
The report, scheduled for release on Monday, breaks down the composition of verified mortgage fraud activity in 2013 as reported by lenders, insurers and other subscribers to a LexisNexis database known as MIDEX. The database tracks only fraud involving industry professionals, such as loan officers, real estate agents and appraisers.
“Eighty percent of all mortgage fraud involves a professional,” said Tim Coyle, the company’s senior director of financial services and an author of the report. “It almost has to — it’s a very complex game.”
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